Berkshire Taps Former AmEx CEO Kenneth Chenault for Board As Bill Gates Steps Aside

Berkshire Hathaway Inc said that former American Express Executive Kenneth Chenault has been nominated to the conglomerate’s board of directors.

American Express chairman and CEO Kenneth Chenault looks on during the White House Summit on Cybersecurity and Consumer Protection in Stanford, California, on Feb. 13, 2015. Justin Sullivan/Getty Images

Warren Buffett’s Berkshire Hathaway said on Friday that former American Express Chief Executive Officer Kenneth Chenault has been nominated to the conglomerate’s board of directors, replacing Microsoft co-founder Bill Gates.

The change was disclosed in Berkshire’s annual proxy filing, ahead of its scheduled May 2 annual meeting.