Visa CEO Alfred F. Kelly Jr, Incidental To Its Digital Shift Retires, Names New Chief

Author: Anusuya Lahiri | November 18, 2022 09:44am

• Visa Inc (NYSE:V) named Ryan McInerney as CEO, effective February 1, 2023. 
• McInerney currently serves as President of Visa, a role he has held since 2013. 
• McInerney will take over as CEO from Alfred F. Kelly, Jr., who has served as the company's CEO since 2016 and Chairman since 2019.
• Following McInerney's appointment, Kelly will assume the role of Executive Chair of the Board.
• Kelly's tenure overlapped with a continuing shift to digital payments as more consumers pay with cards, a process that further accelerated during the pandemic, the Wall Street Journal reported.
• During his tenure, Visa, the largest card network in the U.S., further expanded its focus on other payment flows. These include helping money move over its network without using cards, including for transactions involving governments and businesses. 
• During Kelly's tenure, Visa's market value more than doubled, and the company is now worth more than $400 billion.
• In his role as President, McInerney has been responsible for Visa's global businesses, delivering value to Visa's financial institutions, acquirers, merchants, and partners in more than 200 countries and territories around the world. 
• He has overseen the company's market teams, business units, product teams, merchant teams, and client services. 
• Ryan is a seasoned payment and consumer banking leader with 20 years of experience delivering solutions to clients.
• Price Action: V shares closed higher by 0.59% at $212.24 premarket on the last check Friday.

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