Andrew P. Cvitanov, the man at the helm of American Express Tax & Business Services (TBS), has resigned, effective immediately. The AmEx TBS division is the organization behind the consolidation of the non-audit assets of CPA firms into the American Express umbrella.
Mr. Cvitanov, who has held the position for three years, will be replaced by Tom Meador, a twenty-year veteran of American Express, and most recently a senior Vice President for Global Real Estate and Procurement.
Mr. Cvitanov announced his resignation to employees of AmEx TBS through an internal e-mail. "I believe that TBS is at the cusp of successes only imagined in the past," he said.
TBS began the CPA firm consolidation frenzy in the late 1980s/early 1990s, but that strategy has slowed significantly in recent years. AmEx spokesmen indicate that active solicitation of CPA firm targets has subsided while the organization focuses on integrating the various CPA firm assets that are part of the AmEx family.