Wednesday, October 19, 2016
Posted by: Katie Beatty
Visa, Inc. announced on October 17, 2016 that Charlie Scharf is resigning as the chief executive officer effective December 1, 2016. The board of directors appointed Alfred F. Kelly, Jr. as CEO. Kelly is the former president of American Express Co. and is a current Visa board member.
Scharf's leadership has strengthened it's position in the global ePayables. In addition, the company successfully completed the acquisition of Visa Europe in June 2016.
Kelly will join the company on October 31, 2016 as CEO designate. Scharf will serve as an adviser to Kelly after his departure beginning on December 1, 2016 for several months.