American Express Global Business Travel names Drew Crawley as new CEO

American Express Global Business Travel (Amex GBT) has announced a leadership transition following its acquisition by Long Lake for approximately $6.3 billion. Drew Crawley, who has served as the company’s president since 2020, will succeed Paul Abbott as CEO.

Abbott, who led the company for seven years, will transition into a new role as an operating partner with Long Lake. The acquisition, which was approved by shareholders in August, involved a cash payment of $9.50 per share, representing a 65.1% premium over the 30-day volume-weighted average price prior to the announcement. Following the completion of the transaction, Amex GBT's ordinary shares have been delisted from the New York Stock Exchange.

Under the new ownership, the company intends to leverage Long Lake’s expertise in applied artificial intelligence to enhance its managed travel solutions and high-tech service offerings.