Visa's Financial Chief Pollitt to Retire -- Update

By Dow Jones Business News, 
A A A


By Anna Prior

Visa Inc. said Chief Financial Officer Byron H. Pollitt Jr. will retire from his post at the company within the next 12 months, according to a regulatory filing.

The decision allows sufficient time for Visa to conduct a search for a new finance chief and for Mr. Pollitt to assist with the transition of his duties to his successor, the company said on Tuesday.

Mr. Pollitt, 62 years old, has been Visa's financial chief for the past seven years. He joined the company in 2007 as part of the management team that led the company's initial public offering.

During his tenure, the company increased its stock price to $213 from $44 a share and was added to the Dow 30, Visa said.

Prior to his time with Visa, Mr. Pollitt worked at Gap Inc. as the retailer's financial chief. He also worked at Walt Disney Co. for more than 13 years, including a stint as chief financial officer for Walt Disney Parks and Resorts.

Visa, for its part, in April said quarterly earnings rose 26% on higher operating revenue and payments volume, noting that spending trends have shown further improvement in the first three weeks of April.

Write to Anna Prior at anna.prior@wsj.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires


  (END) Dow Jones Newswires
  06-03-141003ET
  Copyright (c) 2014 Dow Jones & Company, Inc.


This article appears in: News Headlines

Referenced Stocks: DIS , GPS , V

Dow Jones Business News


More from Dow Jones Business News:

Related Videos

3 Defensive Fund Picks
3 Defensive Fund Picks              

Stocks

Referenced

90%
75%
67%

Most Active by Volume

72,728,189
  • $76.13 ▲ 6.79%
35,277,257
  • $8.2823 ▲ 7.84%
25,347,273
  • $35.85 ▲ 3.28%
24,977,090
  • $17.975 ▲ 1.10%
21,214,224
  • $35.64 ▼ 0.67%
21,153,129
  • $76.49 ▼ 6.26%
20,503,891
  • $97.07 ▼ 0.12%
18,403,362
  • $10.232 ▲ 4.09%
As of 7/24/2014, 12:01 PM