American Express President Ed Gilligan, who was flying to New York in a corporate Plane has suddenly died due to falling ill on the plane. The plane made an emergency landing in the US.
An American Express Spokesperson said in a statement that Mr Ed Gilligan has died, on his journey back to the New York from a business trip. However, the Spokesperson did not tell the Media where the president has been.
In his letter to the Employees on Friday, CEO of the American Express Mr Chenault said that it was painful losing Ed and fortunate to work with him.
Gilligan, has come all the way to become the president of the company from working as a credit card issuer in the New York city, 35 years ago. He was accompanied by his wife and four children.
Due to his sincerity and dedication towards work, Gilligan was admired and respected by his staff. It is due to these qualities he was considered the next potential candidate to succeed chenault. Gilligan’s death came at an instance when the company is suffering with a financial issue, The Times of India reports.
The company had lost its US antitrust suit and has also faced serious loss in the first quarter of the year. The company has been considering the increase of the annual fee rates on its various card services to improve its financial status.