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Updated Thursday, March 18, 2010 11:14 am TWN, AP

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American Express CEO's compensation falls 61 percent

NEW YORK -- The chief executive of American Express saw his pay package drop 61 percent last year as the credit card company's profits narrowed amid the downturn, according to an Associated Press analysis of a regulatory filing. Kenneth Chenault, 58, got cash and other compensation worth US$16.8 million in 2009, compared with US$42.9 million in 2008. Lower stock and option awards account for much of the drop.

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