LOS ANGELES (AP) — The chairman and chief executive of American Express Co. received a compensation package valued at $22.5 million for 2011, a 38 percent increase from a year earlier, according to an Associated Press analysis of a regulatory filing.

The company credited Kenneth Chenault and his management team for delivering revenue and profit growth, and gaining market share over the past two years.

The executive, who has been chairman and CEO since 2001, received $16.3 million in compensation in 2010.

Chenault, 60, received a base salary of $2 million, up 3 percent from the previous year, according to documents filed Friday with the Securities and Exchange Commission.

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