Bank of New York Mellon Corp. (BK) announced that former Visa Inc. (V) CEO Charles W. Scharf will be taking over as CEO of the bank effective immediately and will take over as chairman of the board of directors starting Jan. 1, 2018.
Scharf, 52, will replace Gerald L. Hassell, 65, who will continue to serve as the bank's board chairman until Scharf takes over next year.
"Today's announcement is the culmination of the Board of Directors' robust and long-term succession planning process. Charlie is an accomplished and distinguished leader, with a record of profitably growing businesses, driving innovation and managing complex, large-scale global financial services organizations," Hassell said in a statement Monday.
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In a July 6 trademark application, Amazon subsidiary Amazon Technologies Inc. revealed it's planning "prepared food kits composed of meat, poultry, fish, seafood, fruit and/or and [sic] vegetables...ready for cooking and assembly as a meal," as well as primarily grain-based offerings.
The product's tagline: "We do the prep. You be the chef." Amazon already sells other companies' meal kits, including Tyson Foods Inc.'s (TSN) Tyson Tastemakers. Martha Stewart is even offering meal kits on Amazon Fresh, the company's grocery delivery service. But, this may be the first hint of something bigger for Amazon, which would put it in direct competition with newly minted IPO Blue Apron (APRN) .