Visa Inc. (NYSE: V) today announced that the company’s Board of Directors has elected Robert W. Matschullat as Visa’s non-executive, independent chair. The appointment is effective April 1, following the retirement of executive chair Joseph W. Saunders, as planned. At the same time, John Swainson’s term as Lead Director will end, and he will return to his position as a member of the company’s Board.
Mr. Matschullat has been a Visa director since October 2007. He has served as both Chairman and interim Chief Executive Officer of The Clorox Company and is currently its Lead Director. He also served on the boards of The Seagram Company Limited, Morgan Stanley & Co. Incorporated and of the McKesson Corporation. Mr. Matschullat currently serves on the board of directors of The Clorox Company and The Walt Disney Company.
“I want to thank John Swainson for his service as Lead Director and his exceptional stewardship in the 5 years since the board was created. As for Bob Matschullat, he knows Visa well from his years of Board service,” said Mr. Saunders. “He possesses a wealth of experience in global consumer products and corporate finance that has been of great benefit to the Board and the company. I have enjoyed working with Bob and the rest of the Visa Board, and as a shareholder I am confident he will be an effective partner with Charlie Scharf, our new CEO, as the company pursues its global growth strategy.”
Visa is a global payments technology company that connects consumers, businesses, financial institutions and governments in more than 200 countries and territories to fast, secure and reliable electronic payments. We operate one of the world’s most advanced processing networks—VisaNet—that is capable of handling more than 24,000 transaction messages a second, with fraud protection for consumers and assured payment for merchants. Visa is not a bank and does not issue cards, extend credit or set rates and fees for consumers. Visa’s innovations, however, enable its financial institution customers to offer consumers more choices: pay now with debit, ahead of time with prepaid or later with credit products. For more information, visit
Forward Looking Statements
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