Visa CEO Stepping Down, Successor Named

In an unexpected move, Visa (NYSE: V) has announced CEO Charlie Scharf is stepping down from his post, effective Dec. 1. He will be replaced by Alfred Kelly, a member of the card payment giant’s board. In the press release detailing the transition, Visa wrote that Scharf is departing “because he could no longer spend the time in San Francisco necessary to do the job effectively.” Scharf’s family is based in New York; he cited the need to be closer to them as a key reason for his decision. …read more

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