Visa Board Elects Robert Matschullat as Independent Chair
SAN FRANCISCO -- January 29, 2013
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
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
This release contains forward−looking statements within the meaning of the
U.S. Private Securities Litigation Reform Act of 1995. By their nature,
forward-looking statements: (i) speak only as of the date they are made, (ii)
are neither statements of historical fact nor guarantees of future performance
and (iii) are subject to risks, uncertainties, assumptions and changes in
circumstances that are difficult to predict or quantify. Therefore, actual
results could differ materially and adversely from those forward-looking
statements because of a variety of factors including the factors discussed in
our most recent Annual Report on Form 10−K on file with the U.S. Securities
and Exchange Commission. You should not place undue reliance on such
statements. Unless required to do so by law, we do not intend to update or
revise any forward−looking statement, because of new information or future
developments or otherwise.
Jack Carsky or Victoria Hyde-Dunn
Erica Harvill, 650-432-1211
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