By Anna Prior
Visa Inc. said Chief Financial Officer Byron H. Pollitt Jr. will
retire from his post at the company within the next 12 months,
according to a regulatory filing.
The decision allows sufficient time for Visa to conduct a search
for a new finance chief and for Mr. Pollitt to assist with the
transition of his duties to his successor, the company said on
Tuesday.
Mr. Pollitt, 62 years old, has been Visa's financial chief for
the past seven years. He joined the company in 2007 as part of the
management team that led the company's initial public offering.
During his tenure, the company increased its stock price to $213
from $44 a share and was added to the Dow 30, Visa said.
Prior to his time with Visa, Mr. Pollitt worked at Gap Inc. as
the retailer's financial chief. He also worked at Walt Disney Co.
for more than 13 years, including a stint as chief financial
officer for Walt Disney Parks and Resorts.
Visa, for its part, in April said quarterly earnings rose 26% on
higher operating revenue and payments volume, noting that spending
trends have shown further improvement in the first three weeks of
April.
Write to Anna Prior at anna.prior@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires