Visa Inc.’s Antonio Lucio, who oversees marketing, advertising and communications as chief brand officer, is leaving the company to join Hewlett-Packard Co.’s printer business.
Lucio, 55, has been with Visa since 2007, the Foster City, California-based payments network said Tuesday in a filing. He notified the firm he would be leaving earlier this month and his resignation is effective April 24.
Lucio will become chief marketing officer for HP Inc., the personal-computer and printer company that is set to split off from the technology giant later this year, Hewlett-Packard said in a statement.
Visa spent $900 million on marketing in the 12 months ended Sept. 30, according to its quarterly report. The marketing and ad budget, which Lucio oversees, is among the largest in the financial-services industry, according to Gil Luria, an analyst at Wedbush Securities Inc.
“A big part of what Visa sells is its brand,” Luria said in an interview. “Being in charge of Visa’s brand is one of the most important roles at the company.”
Lucio has overseen Visa’s “Everywhere you want to be” campaign, and a partnership including sponsorships of the Olympics, FIFA World Cup and National Football League. Advertising and public-relations firms that work with Visa include BBDO Worldwide and FleishmanHillard, both divisions of Omnicom Group Inc.
Lucio’s exit means three executives remain on the Visa management team from before the 2008 initial public offering: Jim McCarthy, head of innovation and strategic partnership; Ellen Richey, chief legal and risk officer; and head of corporate strategy Bill Sheedy.
Byron Pollitt retired this year as chief financial officer, and was succeeded by Vasant M. Prabhu. Chief Executive Officer Charlie Scharf took the helm in November 2012.
Before joining Visa, Lucio held senior marketing roles at PepsiCo Inc. and Pepsi Cola International Beverages, Visa said on its website. He’s also worked at Kraft Foods and Procter & Gamble Co.