Stephen Squeri to replace Kenneth Chenault as new AmEX CEO

(Reuters) - Credit card issuer American Express Co said on Wednesday long-time Chief Executive Kenneth Chenault will step down and will be replaced by Stephen Squeri.

Net income attributable to common shareholders rose to $1.36 billion, or $1.50 per share, in the third quarter ended Sept. 30, from $1.14 billion, or $1.20 per share, a year earlier.

Total revenue, net of interest expense, rose 9 percent to $8.44 billion.

This is the first quarter without impact from the loss of AmEx's loss of its partnership with Costco Wholesale Corp.

See Chenault through his career:

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American Express CEO Kenneth Chenault
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American Express CEO Kenneth Chenault
American Express Chairman and CEO Kenneth Chenault gestures during the White House summit on cybersecurity and consumer protection in Palo Alto, California February 13, 2015. REUTERS/Robert Galbraith (UNITED STATES - Tags: SCIENCE TECHNOLOGY BUSINESS POLITICS)
UNDATED FILE PHOTO - Kenneth Chenault has been appointed president and chief operation officer of American Express the company announced February 27. Chenault has been a vice chairman and member of the office of the Chief Executive since 1995. AMERICAN EXPRESS
Chairman and CEO of American Express Kenneth Chenault speaks to the Brookings Institution in Washington, September 16, 2008. REUTERS/Larry Downing (UNITED STATES)
Chairman & Chief Executive of the Goldman Sachs Group Lloyd C. Blankfein, American Express Chief Executive Kenneth Chenault, Bank of America Corp. Chief Executive Kenneth Lewis and American Banker's Association President and Chief Executive Ed Yingling arrive at the White House for a meeting about the economy with U.S. President Barack Obama in the State Dining Room in Washington, March 27, 2009. Obama meets with top U.S. bankers on Friday to hash out plans to reform Wall Street, rid financial institutions of bad debts and jumpstart lending in an effort to pull the United States out of recession. REUTERS/Larry Downing (UNITED STATES POLITICS BUSINESS)
U.S. President Barack Obama (R) speaks to a speaker phone while meeting with financial services industry leaders in the Roosevelt Room of the White House in Washington December 14, 2009. Obama opened a meeting with top bankers at the White House on Monday that was aimed at persuading them to help lift the country out of the U.S. economic crisis. From L-R: American Express Chief Executive Kenneth Chenault, State Street Chief Executive Ronald Logue, Bank of NY Chief Executive Robert Kelly, White House Council of Economic Advisers Christina Romer, JP Morgan Chief Executive Jamie Dimon, PNC Financial Services Group Chief Executive Jim Rohr, U.S. Treasury Secretary Timothy Geithner and Obama. REUTERS/Larry Downing (UNITED STATES - Tags: POLITICS BUSINESS)
Chairman and CEO of American Express Kenneth Chenault and his wife Kathryn arrive for the state dinner hosted by U.S. President Barack Obama and first lady Michelle Obama for the President of Mexico Felipe Calderon and his wife Margarita Zavala at the White House in Washington May 19, 2010. REUTERS/Joshua Roberts (UNITED STATES - Tags: POLITICS BUSINESS)
Chairman and CEO of American Express Company Kenneth Chenault speaks to the Council on Foreign Relations in New York December 6, 2011. REUTERS/Mike Segar (UNITED STATES - Tags: BUSINESS POLITICS)
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(Reporting by Pallavi Dewan and Nikhil Subba in Bengaluru; Editing by Sriraj Kalluvila and Shounak Dasgupta)

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