Summary
This 8-K filing from Visa Inc. announces a change to its Board of Directors. Effective August 2, 2018, the Board's size was increased from nine to ten members with the appointment of Denise M. Morrison. Ms. Morrison has been deemed an independent director by the New York Stock Exchange listing standards and will serve a term expiring at the 2019 Annual Meeting of Stockholders. Her appointment is a standard governance update for investors, indicating the company is maintaining its board structure with qualified, independent leadership. Ms. Morrison will be compensated according to the company's established director compensation policies. This filing does not involve any financial performance or operational updates, but rather focuses on corporate governance.
Key Highlights
- 1Visa Inc. appointed Denise M. Morrison to its Board of Directors.
- 2The size of the Board of Directors was increased from nine to ten members.
- 3Ms. Morrison's appointment is effective immediately, with her term expiring at the 2019 Annual Meeting of Stockholders.
- 4The Board has determined Ms. Morrison to be an independent director under NYSE listing standards.
- 5Ms. Morrison will receive compensation in line with the company's standard arrangements for non-employee directors.
- 6There are no disclosed related-party transactions or special arrangements with Ms. Morrison.