Summary
Visa Inc. has announced a significant leadership transition with the upcoming retirement of Executive Chairman Alfred F. Kelly, Jr. Mr. Kelly, who has been a pivotal figure in the company's growth and strategic direction, will retire from his role as Executive Chairman and Board member on January 23, 2024. He will continue to serve in a non-executive capacity as a Senior Advisor until February 15, 2024, ensuring a smooth handover. Following Mr. Kelly's departure, the Board of Directors has elected John F. Lundgren, currently the Lead Independent Director, to assume the role of Chair of the Board. This transition is effective January 23, 2024, contingent upon Mr. Lundgren's re-election to the Board at the upcoming annual meeting of stockholders in January 2024. Investors should monitor the company's communications for further details on leadership succession and strategic continuity.
Key Highlights
- 1Executive Chairman Alfred F. Kelly, Jr. will retire on January 23, 2024, after serving on the Board.
- 2Mr. Kelly will transition to a Senior Advisor role until February 15, 2024, to facilitate continuity.
- 3John F. Lundgren, the current Lead Independent Director, has been elected as the new Chair of the Board, effective January 23, 2024.
- 4Mr. Lundgren's appointment as Chair is subject to his re-election to the Board at the January 2024 annual meeting.
- 5The company filed a press release on October 18, 2023, as Exhibit 99.1, detailing these leadership changes.