American Express CEO's pay up 38 pct in 2011 Chairman and CEO Kenneth Chenault received a compensation package valued at $22.5 million for 2011, a 38 percent increase from a year earlier. That's according to an Associated Press analysis of data disclosed to regulators on Friday. Chenault received $16.3 million in compensation in 2010. The bulk of his 2011 pay increase came in the form of stock awards, which were worth about $15.3 million at the time they were granted - a sevenfold increase from the year before. American Express' profit climbed 22 percent to $4.94 billion in 2011. Shareholders saw the company's stock price rise about 10 percent last year. The stock closed Friday at $52.99. The Associated Press formula considers salary, bonuses, perks, stock and options awarded to the executive during the year.