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Visa Head of Global Solutions Group Buse Plans to Retire

March 13 (Bloomberg) -- Elizabeth Buse, a top executive at Visa Inc. who previously ran most of the firm’s international business, is leaving after more than 16 years.

Buse, 53, was most recently the head of the global-solutions group, Foster City, California-based Visa said today in a filing with the U.S. Securities and Exchange Commission. Buse is retiring March 31, according to the filing.

“Throughout her career, Elizabeth has worked tirelessly to build a stronger, more effective and engaged Visa,” Chief Executive Officer Charlie Scharf, 48, said in a statement. “I am thankful for the foundation she has created for us to work from and wish her well.”

Visa also said today that Ramon Martin, a former president of merchant services at American Express Co., will be joining the firm. Martin will lead work related to merchant products that Buse previously did, according to a person familiar with the matter who asked not to be identified because the plans are private.

Buse was appointed to her role in the new global-solutions unit in May. She started her career at Visa in the product-organization group and was the first executive to oversee the firm’s business in the Asia Pacific, Central and Eastern Europe, Middle East and Africa regions, the filing said.

Shares of Visa fell 2.3 percent to $220.83 at 3:28 p.m. in New York. They have decreased less than 1 percent this year, and were the sixth-best performer in the 30-company Dow Jones Industrial Average for 2013, rising 47 percent.

To contact the reporter on this story: Elizabeth Dexheimer in New York at edexheimer@bloomberg.net

To contact the editors responsible for this story: Peter Eichenbaum at peichenbaum@bloomberg.net Steve Dickson, Steven Crabill

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