Investing.com -- American Express (NYSE:AXP) president Ed Gilligan reportedly collapsed and passed away on Friday while returning to the U.S. from a business trip, the company said in a statement.
Gilligan, 55, was aboard a corporate plane while heading back to the country from a trip to Japan. Several other American Express executives were also aboard the flight. Gilligan, who joined American Express as an intern 35 years ago, ascended to company vice chairman in 2007 and president in 2013. American Express CEO Ken Chenault expressed his condolences to Gilligan's family in a letter to company employees and shareholders on Friday.
"This is deeply painful and frankly unimaginable for all of us who had the great fortune to work with Ed, and benefit from his insights, leadership and enthusiasm," Chenault wrote. "His contributions have left an indelible imprint on practically every area of our business, from Commercial Card and Travel to International, Consumer, Small Business, Merchant Services, Network Services and, most recently, the group forging our digital partnerships and driving payment innovations."
Gilligan was widely expected to succeed Chenault upon the longtime CEO's retirement. Chenault, 63, has served in his current position since 2001.
Gilligan is survived by his wife Lisa and their four children.
"The mark of a true leader is followership, and Ed won the hearts and minds of many thousands," Chenault wrote. "He was a champion of diversity and employee development, and his mentorship has helped create a legacy of strong leaders wherever he went."