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Posted in 2016, Finance & Insurance | 0 comments

Visa: Charlie Scharf (CEO)

Visa: Charlie Scharf (CEO)

After steering the ship for 4 years, Scharf steps down as CEO of the leading global payments company based in San Francisco to be closer to his family on the East Coast. During his tenure, Visa’s stock generated a total return including dividends of 144% versus 64% for the S&P 500. Scharf is also credited with transforming the company into a technology-driven digital commerce company, renovating Visa’s corporate culture to make the former bank-owned cooperative more efficient, and halting a long-running dispute with PayPal that will stop PayPal from driving customers away from Visa cards. In June 2016, Scharf added one more line item to the balance sheet, by completing Visa’s acquisition of Visa Europe. While Scharf will be spending more time with his family, Aflred Kelly, former president of American Express and current Visa board member, will take over the balance sheets.