American Express 2005 Annual Report Download - page 24

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so powerfully expressed as it was in 2005, when the world endured multiple natural disasters that claimed
lives and destroyed property on a massive scale. During these crises, American Express people across the com-
pany reached out to aid cardmembers, merchants and travelers in ways that have come to typify our service
— in other words, above and beyond all reasonable expectations. They helped move people out of stricken
regions. They reunited families. They extended emergency loans, credit and sometimes even cash to card-
members and merchants in need. They helped promote the restoration of tourism in regions trying to recover
in the aftermath of the disasters. And they gave generously, volunteering thousands of hours and donating
nearly $2 million to relief efforts. In addition the American Express Foundation and the company contributed
another $3.5 million to help aid the recovery.
While we have a longstanding tradition of going above and beyond in times of crisis, the everyday actions of
employees are what enable us to carry out our strategies and deliver for our cardmembers, partners and share-
holders. I believe we have one of the most talented and committed workforces of any company.
Our 2005 Employee Survey, which set a record for participation, showed that we are maintaining consistently
high satisfaction levels. Workplace quality is important to us, and we work hard to foster an environment in
which people of all backgrounds feel they can succeed and grow. We are proud that American Express was
included on 28 best places to work lists in major media worldwide in 2005, and that we retained the number
one ranking in the consumer credit category in Fortune’s annual America’s Most Admired Companies list. In
2006, we will roll out new programs to further strengthen our leadership and talent management capabili-
ties. We are committed to creating a work environment that not only ensures employee satisfaction, but
inspires and enables our people to reach higher.
I have often said that the people of American Express are our greatest asset. Strategies and business models
only lay the groundwork. For more than 155 years, our people have made our success possible through every
phase of this company’s reinvention. Above all else, they give me the confidence that our next chapter promises
to be the best yet.
Sincerely,
Kenneth I. Chenault, Chairman and Chief Executive Officer
FEBRUARY 27, 2006
AXP / AR.2005
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