American Express 2002 Annual Report Download - page 25

Download and view the complete annual report

Please find page 25 of the 2002 American Express annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 92

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92

the company for the future. We made the tough calls
that were required, but we did it in a thoughtful way
that built upon and remained true to our traditional
values as a company. As a result, rather than becoming
demoralized or distracted, our employees remained
motivated and focused — more resilient and confident
in our ability to be successful.
Results from our annual employee satisfaction survey
support this view. About 86 percent of employees
worldwide participated in the 2002 survey. The results
were strong, showing improvement for the company
overall and within most major businesses and markets.
Company-wide, there were gains in 11 of 12 categories
measured in the survey. (One category remained
unchanged.) The results also compared very favorably
with external benchmarks.
Due to our focus on maintaining and improving the
quality of our workplace, we are receiving increased
external recognition as a top employer. During 2002,
we appeared on a record 16 media lists, including
Working Mother’s 100 Best Companies for Working
Mothers (where we made the top 10 for the first time)
and Fortune’s 100 Best Companies to Work For in
America (on which we moved up significantly to 36
from 91). We were also cited on numerous occasions for
the successful return to our headquarters and our com-
mitment to rebuilding the lower Manhattan community.
Our return to our corporate headquarters building in
lower Manhattan, which had been damaged in the
attacks of September 11, 2001, was an important
aspect of our company’s renewal in 2002. In May, we
celebrated our return to the American Express Tower.
Our headquarters staff had been scattered across seven
locations in New York, New Jersey and Connecticut
while we waited for repairs to be completed and the
World Financial Center area to be restored. During
this time, our employees showed great resolve, refus-
ing to become distracted when physical circumstances
forced us to work apart from each other. Our actions
in reaffirming our commitment to New York City and
supporting the revitalization of lower Manhattan are
a source of pride for our people worldwide.
I would like to once again thank all the employees of
American Express for their dedication and incredible
efforts over the past year. Through all the distractions
and challenges we faced, they stayed focused on
providing exceptional service to our customers and
moving the business forward. The results that we
achieved and the progress we made in 2002 are a
testament to their character and talent. Our people
are the source of our strength and success, and I am
proud to work with them.
Board of Directors
The importance of strong, independent boards of
directors was highlighted by the corporate scandals of
2002. American Express continued to benefit from the
governance, counsel and guidance of our directors. On
behalf of our employees and shareholders, I would like
to thank the Board for the diligence and insight they
bring to exercising their duty to the company. In the
past year, we welcomed a new addition to our Board:
Robert D. Walter, Chairman and Chief Executive Offi-
cer of Cardinal Health, Inc.
I also would like to express our gratitude to Beverly
Sills Greenough, who retired from the Board in April,
for the many contributions she made to our company
during her 12 years of service.
I23 AXPI