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- American Express CEO Steve Squeri ran his pandemic plan by his biggest shareholder, Warren Buffett.
- Squeri wanted to avoid layoffs, acquire businesses, and invest $1 billion in new cardholder rewards.
- Buffett voiced his approval and underscored the vital importance of Amex's brand and customer base.
American Express CEO Steve Squeri called up Warren Buffett, his company's biggest shareholder, to win his support for a bold plan at the height of the COVID-19 pandemic. The famed investor and Berkshire Hathaway CEO wasted no time saying he was on board.