23 August 2017
Find out more

Visa president John Morris steps down

28 July 2009  |  1768 views  |  0 Source: Visa

Joseph W (Joe) Saunders, Chairman and Chief Executive Officer (CEO) of Visa (NYSE: V), today announced that he is reorganizing the company's executive management team's responsibilities to heighten organizational effectiveness and increase the pace of Visa's global alignment.

"We've come a long way since October of 2007 when we merged five independent Visa operating regions, Visa International and its global payment processing subsidiary, Inovant, into one company called Visa Inc. and very successfully took the company public," said Saunders. "Since the IPO, we've expanded our core debit and credit business, reduced operating costs by hundreds of millions of dollars, and heightened our focus on product innovation. We have met or exceeded most of the financial goals we established at the IPO, and continue to meet or exceed all our current financial guidance. As a growing and constantly evolving company, we will continually assess our management team structure and refine it as necessary to ensure that we continue to deliver value to clients and shareholders."

In the new structure, the company's global sales, client service, marketing, product development and innovation functions will be consolidated, effective immediately, under the leadership of John M. Partridge, Chief Operating Officer. With these critical business units more closely aligned, Visa will achieve greater integration, operating efficiencies and increased speed to market in delivering new products to clients.

John C. (Hans) Morris, will step down as President, Visa Inc. He will remain with the company until the end of the year in a different capacity working with Mr. Saunders and helping to ensure a seamless transition to the new structure. Morris joined the newly formed Visa Inc. in 2007 and played a central role in the company's successful IPO in 2008. Since then he has enhanced Visa's client-facing operations, assisting the company in adopting more rigorous customer-centric models required by public companies, led its coordination with Visa Europe and played a significant role with many of Visa's key client relationships.

"Hans played an important role as we created Visa Inc., executed the IPO and transitioned Visa to a high performing public company," said Mr. Saunders. "We've benefitted from his energy, insight and counsel."

Comments: (0)

Comment on this story (membership required)

Related company news


Related blogs

Create a blog about this story (membership required)
download the paper nowvisit www.vasco.comvisit www.abe-eba.eu

Top topics

Most viewed Most shared
Rabobank constructs physical model to understand IT architectureRabobank constructs physical model to unde...
18086 views comments | 42 tweets | 79 linkedin
Mobile contactless spending accelerating in UKMobile contactless spending accelerating i...
13222 views comments | 28 tweets | 23 linkedin
Barclays pairs banking data with third party apps for SmartBusiness DashboardBarclays pairs banking data with third par...
11859 views comments | 22 tweets | 34 linkedin
Australia regulates digital currenciesAustralia regulates digital currencies
11069 views comments | 21 tweets | 35 linkedin
RBS to bring Silicon Valley to EdinburghRBS to bring Silicon Valley to Edinburgh
10937 views comments | 10 tweets | 8 linkedin

Featured job

Find your next job