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Visa CEO departs and moves back to East Coast

Tuesday, October 18, 2016 8:14
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(Before It's News)

Credit card giant Visa Inc (NYSE:V) is to get a new chief executive after Charles Scharf decided he was spending too much time in San Francisco.

Scharf lived in New York before he took the Visa job in 2012 and said he could no longer spend enough time on the West Coast to do the job effectively.

Credit card giant Visa Inc (NYSE:V) is to get a new chief executive after Charles Scharf decided he was spending too much time in San Francisco.

Scharf lived in New York before he took the Visa job in 2012 and said he could no longer spend enough time on the West Coast to do the job effectively.

Alfred Kelly, 58 and a former president at  American Express, is to take up the chief executive reins.

In an interview, Scharf said he needs be closer to his family in New York.

Shares in Visa were little changed at US$81.64.

Story by ProactiveInvestors

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