ken chenault will be stepping down from his role after 17 years.o run a "fortune" 500 company and he took the helm back in 2001 he successfully worked to turn around amex after the company lost its partnership with costco while he was at the helm, the firm expanded beyond its corps market of corporate and wealthy customers to broader clientele and chenault will be succeeded by vice chairman steven squeri that will be february 1. the credit card company posted better-than-expected third quarter results last night shares of american express are trading down close to 2% >>> it's space week on "squawk box. our next guest holds the record for taking the most pictures from space 319,275 pictures let's bring in terry virts, former astronaut and the new author of the book called "view from above, an astronaut photographs the world. it features over 300 images that he actually snapped while he was in space and terry, thanks so much for being here today. >> thanks, good to be with you. >> you spent over 200 days in space. so many things we want to know about

american express volatile after hours after announcing the departure of long time ceo ken chenault let's get to leslie picker at headquarters with the details. >> reporter: chenault plans to retire after 37 years at the company. he had been replaced as chairman and ceo by stephen squeri. his promotion is effective february 1st american express is midway through their conference call now. chenault praised squeri's digital acumen, another reason why the board chose him. >> and i'm delighted that i will be handing over the reins to someone who has played an important role in shaping the company that we are today. steve knows the business and the brand. he knows the marketplace he is an excellent strategist, a strong leader, and a great partner. >> reporter: chenault added that the succession process has been under way for five years they looked outside and inside the company. american express's stock moved higher after the company reported earnings and revenue that beat analysts' expectations when news of chenault's departure hit, shares dipped into the red they've gone a little back up dur

ken chenault is a change agent. focused on innovation, he has developed people, and he has left the company stronger and positioned the company for sustained success. do you ever leave home without your american express card? i absolutely never leave home without it, and when i'm at home, it's always with me. [♪] ♪ you're watching pbs. een rv i'm just kind of excited to meet women who are in different sectors engineering and tech i've never been to new york city kind of overwhelmed at the moment when i took physics in high school, i started noticing there are less girls here still, when i meet new people they're like whoa, you're an engineer! you don't look like what you are! are you sure? i feel was probably the biggest education i got make sure that you take those moments to soak it in >> roadtrip nation is made possible by at&t through its at&t aspire initiative. through aspire at&t helps provide the education and skills training people need to succeed at school, at work, and in life. aspire brings together at&t

ken chenault has served as chairman and ceo since 2001 and is one of the country's most prominent african-american e leaders. he will be succeeded by stephen squeri, an american express veteran who was in charge of corporate cards. the move follows a difficult period for the company, which saw the lost of its costco partnership and increased competition from jpmorgan's sapphire reserve card. late today the company reported a rise in quarterly profit offsetting a rise in costs. you can see the immediate rise in the stock when the earnings were released and then the initial decline in the stock when the ceo announcement was made. >>> investors attention today also turned overseas where china's president spoke about the world's second largest economy, at the country's key meeting of the communist party congress. eunice yoon reports from beijing. >> reporter: president xi is ushering in a new era for china, mentioning the phrase "new era" 36 times today in his 3 1/2 hour long speech. president xi praised the party's achievement for the past five years and outlined his vision for the next five years in

>> tamala, this week ken chenault, the ceo of american express, says he's gonna step down. ess what? philly has one of the top ceos of fortune 500s right here, ken frazier, who's the ceo of merck, and i'm excited to say that we're gonna be honoring him on november 17th -- really good guy. >> all right. you get the last word. >> philadelphians will be surprised to learn how impactful we were in the evolution of motion pictures, and on friday night, a certain documentary-film company that i'm familiar with... [ laughter ] ...will be premiering at the philadelphia film festival at the ritz east, "before hollywood: philadelphia and the birth of the movies." and it'll be on 6abc oscar weekend. >> oh, very proud of you. a round of applause for sam. that's "inside story." we'll see you back here next sunday. ♪ . >>> at rare join appearance all five living former u.s. presidents took politics aside. and important cause. you have been known to look at these little girls here, the sisters were conjoined. we have the promising prognosis, the twins are being cared for in philadelphia. w

. >> we have a lot to talk about we will talk about ken chenault and this big news out of american expresseff son fenenfeld will join us talk about that. we have senator jeff flake from arizona, and phil lebeau will be hanging out with oscar munoz from united. >> good lineup all the big stories. andrew ross sorkin and "squawk box" at the top of the hour. >>> when we come back a historic day on wall street, not for a good reason. today marks 30 years since the black monday market crash what an learn from that drop when "worldwide exchange" returns she thought it was a fire. it was worse. a sinkhole opened up under our museum. eight priceless corvettes had plunged into it. chubb was there within hours. they helped make sure it was safe. we had everyone we needed to get our museum back up and running, and we opened the next day. looking from a fresh perspective can make all the difference. it can provide what we call an unlock: a realization that often reveals a better path forward. at wells fargo, it's our expertise in finding this kind of insight that has lead us to become one of the larges

only met with certain members of the board >> with mcnerney and david taylor then i met once with ken chenault0 minutes. he just said hello and good-bye. there was no interaction there whatsoever >> you feel they didn't give you a fair shot? >> not at all. i didn't show them my white paper. we didn't go through the white paper with them. they didn't do their job they absolutely didn't -- they should have sat with us as a board in whole or in part, and we should have taken them through our white paper. they complain that we didn't give them the white paper, you know, early. we said we wanted to give it to you in may, june, july, august the board was not available for us >> they took it personal i mean, they went after you, your track record. >> they did. >> it got a little nasty >> it got nasty on their part. i think we were -- i think we were gentlemen the whole way i'm very proud of the way we behaved. i sent a note to david the other day, and i said david, it's very lonely on the high road. because we both agreed that we were going to stay on the high road they couldn't quite stay there but

worst performers and amex, although they beat and revenue was ahead and loan growth was good, ken chenaults going to leave people wonder whether it's enough of a high note of that whole costco thing >> it's opinion subeen such a h. and to say that this last run could have been continued would have been hard no matter what happened and chenault had really listened he's really done a lot of things that were terrific to get things together it's been a remarkable stock i salute him he is absolutely going out on a high the stock has had a real rebound. we spent a lot of time talking about the misstep on costco, they wanted to justify it on cost terms the value proposition to your amex holder is still somewhat unclear to me in terms of actual card -- >> and rewards >> what you're paying for that and the competition on reward, particularly from the likes of a jpmorgan, with some of their new entrants >> by the way -- >> and market cap is essentially equal to >> paypal is, you know -- the first thing that i remember when i got out of college, my father said, you've got make enough money to get an