Visa’s Partridge Stays as Consultant, Draws $562,500 Bonus

Visa Inc. (V)’s John Partridge, who retired as president of the world’s largest payments network in March, will receive a base salary of $50,000 a month to remain with the company and work on special projects.

Partridge will also be paid $562,500 in November as a pro- rated bonus for his work as president through the end of last month, the Foster City, California-based firm said in a filing today. Partridge, 63, will continue to be eligible for other benefits given to U.S.-based employees, the filing said. Visa announced his planned retirement in a December statement.

Partridge was paid a salary of $750,029 in fiscal 2012, according to the firm’s most recent proxy statement. He received $5.58 million in total compensation last year, including $1.47 million in stock, $862,512 in options and a $1.82 million cash bonus, the firm said.

He joined the company in 1999 and named president in October 2009.

To contact the reporter on this story: Dakin Campbell in San Francisco at dcampbell27@bloomberg.net

To contact the editor responsible for this story: David Scheer at dscheer@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.