Visa: Check Out Our New CEO!

Visa Inc. (NYSE:V) announced Wednesday that its Board of Directors has elected the company’s next chief executive officer.

Charles W. Scharf, who is currently the Managing Director of One Equity Partners, which manages $10 billion of investments for JP Morgan Chase (NYSE:JPM), will assume the role of Visa’s new CEO on November 1, 2012.

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Outgoing CEO Joseph Saunders will be named executive chairman and will serve in that role through March 31, 2013, when he is scheduled to retire. Saunders has been at the helm since 2007, and his tenure included successfully guiding Visa through its transition to a publicly traded company.

Both Saunders and the Board of Directors are excited to welcome Scharf, who is no stranger to Visa, having worked previously in his career as a Director with the company.

“I have known Charlie Scharf for almost a decade and I believe he is uniquely qualified to lead Visa in the future,” Saunders said.

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