Jim Cramer: Visa CEO Exit Is Not Concerning

Visa (V) - Get Report CEO Charlie Scharf will resign in December after four years leading the company to spend time with his family and that is fine, said TheStreet's Jim Cramer. Scharf, who led the company's multi-billion-dollar acquisition of its former European subsidiary in June, told Visa's board last month the needs of his extended family on the East Coast were making running a San Francisco-based company increasingly difficult. Visa named current board member Alfred Kelly Jr. as its president and CEO. He is the former president of American Express (AXP) - Get Report. Kelly will join Visa on Oct. 31, and Scharf will advise him for several months.