American Express Co. awarded its chairman and chief executive, Kenneth I. Chenault, compensation totaling $17.4 million last year.
The pay package included a $5.13 million cash bonus and $1.2 million salary, Amex said Wednesday in a filing.
Chenault, 58, declined a bonus in 2008, when his compensation totaled $28.8 million, including the value of stock and options awarded in previous years. Chenault's 2010 salary was raised to $2 million, Amex said Jan. 29.
Vice Chairman Edward P. Gilligan, who took over consumer, small-business and network operations in an October restructuring, received 2009 compensation totaling $12.7 million, including a $4 million bonus, Amex said.
Compensation was $9.5 million for Group President Stephen J. Squeri, who heads global services, and $5 million for Chief Financial Officer Daniel T. Henry.
Amex posted net income of $2.13 billion for last year and remained profitable during the recession as its largest competitors, JPMorgan Chase & Co. and Bank of America Corp., logged 2009 credit card losses totaling $7.78 billion.
Chenault's 2009 pay package rivals the compensation of about $18 million that JPMorgan Chase awarded its CEO Jamie Dimon.
