Visa CFO Vasant Prabhu to retire at the end of September
By Emily Bary
Prabhu has been Visa's CFO since 2015
Visa Inc. Chief Financial Officer Vasant Prabhu plans to leave his position at the end of the fiscal year, the financial-technology giant announced Thursday.
Prabhu has served as Visa's (V) CFO since 2015, having previously been the CFO at NBCUniversal Media.
"It has been the privilege of my career to have worked with such an extraordinary team during my tenure at Visa," he said in a statement.
His departure will mark a second big leadership shift for Visa in the current era. Ryan McInerney took over as Visa's CEO earlier in February, succeeding Al Kelly.
"Vasant has played an integral role in shaping Visa's strategic transformation as we evolved our business to a network of networks, introduced new revenue growth drivers including new flows and value added services and executed acquisitions to advance our strategy," McInerney said in a release.
Prabhu will depart Visa when its fiscal year ends at the close of September, and he will be involved in the search and onboarding of his successor.
Visa shares have jumped 240% since Prabhu took over the CFO post on Feb. 9, 2015, while the S&P 500 has risen 102% in that span.
(END) Dow Jones Newswires
February 17, 2023 07:26 ET (12:26 GMT)
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