American Express Adds Two to Board

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American Express (AXP) is enlarging its board.

The New York credit card company said Thursday that it has added Anne Lauvergeon, a partner at Efficiency Capital, and Samuel Palmisano, the retired former chief executive of IBM (IBM), as directors.

The appointments expand Amex's board to 15 members from 13.

Lauvergeon served as chief executive of French nuclear power company Areva for ten years starting in 2001 after holding a series of senior posts at Alcatel and Lazard Freres. She previously served as a deputy chief of staff to the president of France.

Palmisano led IBM over eight years starting in 2003 and continued to serve as the company's chairman until September. He retired from the company in December after holding a series of senior posts over the course of 39 years there.

Lauvergeon "has a tremendous knowledge of international markets and a track record of building and leading an innovative company that helps to meet the energy needs of communities around the world," Kenneth Chenault, Amex's chairman and CEO, said in a press release.

Palmisano "led one of the world's best known and most respected companies during an unprecedented period of change and helped IBM to shape many of the trends that are transforming the world of technology and commerce," Chenault said in a separate release.

Both Lauvergeon, who also serves as a director of Total and Vodafone (VOD), and Palmisano, who serves on the board of Exxon Mobil (XOM), will join the Amex board on March 1.

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