Visa announced today the individuals who will serve as members of Visa Inc.'s Board of Directors after the completion of the proposed restructuring and the appointment of Byron Pollitt, Jr. as Chief Financial Officer designate of Visa Inc.
The proposed restructuring, which remains subject to member approval, contemplates a series of transactions by which Visa Canada, Visa USA and Visa International will become subsidiaries of Visa Inc. Visa Europe will retain its member-owned association structure and will become a licensee of Visa Inc.
In addition to Joseph Saunders, Chairman and Chief Executive Officer of Visa Inc., the Board of Directors of Visa Inc. will include 10 independent directors and seven directors drawn from each of Visa's geographic operating regions.
The following individuals were named to serve as the independent directors after the completion of the proposed restructuring:
Thomas Campbell, Bank of America Dean and Professor of Business, the Haas School of Business, University of California, Berkeley
Gary Coughlan, Former Chief Financial Officer and Senior Vice President of Finance, Abbott Laboratories
Mary B. Cranston, Firm Senior Partner, Pillsbury Winthrop Shaw Pittman LLC
Francisco Javier Fernandez-Carbajal, Former Chief Executive Officer, Corporate Development Division, Grupo Financiero BBVA Bancomer
Suzanne Nora Johnson, Former Vice Chairman, The Goldman Sachs Group, Inc.
Robert W. Matschullat, Former Vice Chairman and Chief Financial Officer, Seagram Company Limited
Cathy Elizabeth Minehan, Former President and Chief Executive Officer, Federal Reserve Bank of Boston