CyberSource adds former Visa chief Carl Pascarella to the board

Source: CyberSource

CyberSource Corporation (Nasdaq: CYBS), a leading provider of electronic payment and risk management solutions, today announced the appointment of Carl F. Pascarella to the CyberSource Board of Directors, effective March 5, 2009.

Mr. Pascarella brings more than 22 years of industry experience to the Board, including serving as President and Chief Executive officer of Visa U.S.A., Inc. from 1993 to 2005.

"Carl will be an extraordinary asset to our Board and to our company," said Bill McKiernan, CyberSource Chairman and CEO. "In addition to his extensive leadership experience in the payment industry, he has a unique background in the international side of the business, a key growth factor for CyberSource. Carl's appointment to the Board also increases the number of independent directors, furthering our commitment to best practices in corporate governance. We look forward to benefitting from Carl's wisdom and counsel."

Mr. Pascarella is currently an Executive Advisor at TPG, a leading global private equity firm. He retired from Visa U.S.A., Inc. in 2005, after having served as that company's President and Chief Executive Officer for 12 years. Prior to that time, Mr. Pascarella served as President and CEO of Visa International's Asia-Pacific Region and Director of the Asia-Pacific Regional Board for 11 years. Before joining Visa International, he was Vice President of the International Division of Crocker National Bank and Vice President, Metropolitan Banking, at Bankers Trust Company. Mr. Pascarella has also served on the Boards of Cobalt Networks, Inc., Business Objects S.A., and BroadVision Inc. He received a master's of science in management from the Stanford Sloan Program at the Graduate School of Business at Stanford University. He received his undergraduate degree from the University of Buffalo.

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