Visa CFO Vasant Prabhu set to retire as firm gets new leadership

Visa Inc. said Chief Financial Officer Vasant Prabhu is retiring, the latest change in the payment giant’s executive ranks.

Prabhu, 63, will depart at the end of the firm’s fiscal year in September, the payments giant said Thursday in a statement. Chief Executive Officer Ryan McInerney took the reins of Visa earlier this month.

Prabhu has been Visa’s CFO since 2015. He oversaw its finances at a time when profits soared, the firm added hundreds of millions of cardholders, and spending on its network more than doubled.

“I am grateful to have played a part in the tremendous growth of one of the world’s most well-respected brands during a time of inflection in the company’s history,” Prabhu said in the statement. “As I retire, I know that the company is well-positioned to continue to grow and take full advantage of the revolution in payments around the globe.”

Prabhu joined from NBCUniversal Media, where he held a similar role. Four years after arriving at Visa, he was named a vice chairman.

Prabhu will assist the San Francisco-based company with the search for his successor, according to the statement.

This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.

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