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Visa Inc. Announces General Counsel Succession Plan; Creates New Vice Chairman Role For Risk And Public Policy

Stocks in this article: V

Visa Inc. (NYSE: V) today announced that Kelly Mahon Tullier will join the company as Executive Vice President and Deputy General Counsel, effective June 16. She will also serve as a member of the company’s Executive Committee. Ms. Tullier will transition to the role of Executive Vice President and General Counsel on October 1, 2014. She joins Visa from PepsiCo, Inc., where she was the Senior Vice President and Deputy General Counsel.

Ellen Richey, Chief Legal Officer, Chief Risk Officer, and member of the Executive Committee will continue in those roles through September 30, when she will become Vice Chairman – Risk and Public Policy. The Chief Risk Officer and the Chief Audit Executive will report directly to Ms. Richey. Ms. Richey will also lead a newly created function responsible for Public Policy at Visa, which will include ensuring that Visa continues to drive the future of payment security, being our voice with legislators, regulators and clients globally regarding payment system security, and other similar initiatives combining business and policy issues of strategic importance to Visa. She will also be responsible for coordinating global crisis management at the executive level.

“We are thrilled to have Kelly join the Visa team and to create the opportunity for Ellen to guide us through this critical time in the evolution of the payment system,” said Charlie Scharf, Visa’s CEO. “Kelly’s extensive global and broad leadership experience will be a great complement to our outstanding legal team.”

“I have extraordinary respect for Ellen,” Charlie added. “She has helped Visa navigate through many complex issues in her Legal and Risk roles. Her deep expertise and judgment, both at Visa and elsewhere, are invaluable and make her the ideal person to lead global risk management and help us further develop our public policy strategies.”

Ms. Tullier has been the PepsiCo, Inc. Senior Vice President and Deputy General Counsel, managing the global legal teams supporting the businesses around the world, and centralized teams responsible for mergers and acquisitions, intellectual property, regulatory, litigation, environmental, and procurement legal work. Prior to that role, she was Senior Vice President and General Counsel for PepsiCo’s Asia, Middle East & Africa Sector, based in Dubai, where she managed legal issues in over 70 countries, including the important growth markets of China and India. Prior to that, she was Vice President and General Counsel at Frito-Lay, Inc., with responsibility for a wide range of legal, policy and compliance issues. Earlier in her career, she was an associate at Baker Botts LLP. Ms. Tullier received a B.A. from Louisiana State University and her J.D., magna cum laude, from Cornell Law School. She also served as law clerk to the Honorable Sidney A. Fitzwater, U.S. District Court, Northern District of Texas.

Prior to joining Visa Inc., Ms. Richey worked at Washington Mutual Inc. as Senior Vice President of Enterprise Risk Management and Executive Vice President of Cards Services, from October 2005 to June 2006. Before that, she served as Vice Chairman of Providian Financial Corporation, where she had responsibility for enterprise risk management, legal and regulatory affairs, corporate governance and corporate relations, as well as the compliance and audit functions of the company. Earlier in her career, Ms. Richey was a Partner in the San Francisco law firm Farella, Brown & Martel, where she specialized in corporate, real estate and financial institution matters. Ms. Richey received a B.A. in Linguistics and Far Eastern languages from Harvard University and a J.D. from Stanford Law School. She also served as a law clerk for Judge Charles B. Renfrew of the U.S. District Court for the Northern District of California and for Associate Justice Lewis F. Powell, Jr., of the United States Supreme Court.

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