Paul Kahn, the 48-year-old executive who directed...

Paul Kahn, the 48-year-old executive who directed the debut of American Telephone & Telegraph Co.’s credit card business, said he is resigning effective May 15.

The company said it will consider outsiders to replace Kahn, who steps down as president and chief executive of AT&T; Universal Card Services Corp. and chairman of AT&T; Universal Financial Corp.