Visa appoints new CEO as boardroom reshuffle continues

Visa has announced the appointment of Ryan McInerney as the company’s new CEO following his previous role as President of the card giant. 

McInerney will reside as Visa CEO from 1 February, 2023 and will take over from his predecessor Alfred F. Kelly Jr., who served as the firm’s CEO since 2016 and Chairman since 2019, and will now assume the role of Executive Chairman of the Board. 

During his role as President, McInerney was responsible for Visa’s global businesses, delivering value to the card network’s financial institutions, acquirers, merchants, and partners in more than 200 countries and territories around the world. 

McInerney also oversaw company market teams, business units, product team, merchant team, and client services. Visa stated that McInerney is a “seasoned leader” in the payments sector with a healthy 20 years of experience. 

“I cannot think of a finer leader to continue to position Visa at the centre of money movement in increasingly innovative ways,” stated Kelly Jr. 

“Ryan has boundless energy and passion for this business and his role as President, and as my close partner for the past six years, he has become intimately familiar with how Visa operates and the exciting opportunities this industry presents. 

“I feel privileged to entrust Ryan with the leadership of this great company and am confident Visa is poised for more succession in the years to come.”

During Kelly Jr’s tenure as CEO, he helped oversee Visa’s acceleration growth across revenue streams, building upon the company’s brand and technological advancements. The outgoing CEO also led Visa through a period of “fundamental change” with developments in new technology, expansion of reach and new payment methods. 

“We are extremely grateful for Al’s leadership over the past six years. His deep industry expertise and eye for the future have positioned Visa as a leader in payments in an evolving and increasingly challenging external environment,” said John F. Lundgren, Lead Independent Director and Former Chairman and CEO of Stanley Black & Decker, Inc.

McInerney also commented on his new position: “I am honoured and humbled to become the newest CEO of Visa. I want to thank Al for his partnership and mentorship over the past few years and the Board of Directors for its confidence and trust. 

“I am looking forward to continuing to help Visa deliver innovative solutions that help individuals, businesses, and economies thrive.”