- Push-out Score determined
- After about six years in the position
- Praise and thanks for Kelly
- Ryan McInerney taking over
- Kelly will remain as Executive Chairman at Visa
- Kelly said 90 words
(exechange) — San Francisco, California, November 17, 2022 — Al Kelly, chief executive of Visa, leaves his position. As announced by Visa Inc. in a news release and in a regulatory filing published on Thursday, November 17, 2022, Alfred F. (Al) Kelly leaves his post as chief executive officer at the financial and payment cards company, after about six years in the role, effective February 1, 2023.
Al Kelly’s duties as CEO will be taken over by Ryan McInerney, currently President at Visa Inc.
“Very well-established and thoughtful succession plan”
Al Kelly’s departure from the CEO post is explained as follows. John F. Lundgren, Lead Independent Director and Former Chairman and CEO of Stanley Black & Decker, Inc., said: “Ryan’s appointment reflects the Board’s very well-established and thoughtful succession plan.”
Kelly will remain as Executive Chairman at Visa
“Following McInerney’s appointment, Kelly will assume the role of Executive Chairman of the Board,” Visa said.
“Take over”
Visa said: “Visa (V: NYSE) today announced the appointment of Ryan McInerney as CEO, effective February 1, 2023. McInerney currently serves as President of Visa, a role he has held since 2013. He will take over as CEO from Alfred F. Kelly, Jr., who has served as the company’s CEO since 2016 and Chairman since 2019.”
Share price increase since December 2016
The announcement follows an increase in Visa Inc.’s share price of 179% since December 2016. December 2016 is the month in which Kelly’s tenure as CEO began.
In the position of CEO since 2016
Al Kelly became CEO of the Company in 2016.
Alfred F. Kelly, Jr. joined Visa in December 2016 as chief executive officer and was elected chairman of the board in April 2019.
Kelly spent the majority of his career at American Express where he worked from 1987 to 2010.
Over those 23 years, he held several senior positions, including serving as president from July 2007 to April 2010.
Immediately prior to Visa, Kelly was president and chief executive officer at Intersection, a technology and digital media company which is an Alphabet-backed private company based in New York City.
Kelly was a management advisor to TowerBrook Capital Partners, L.P. in 2015, while simultaneously serving as chair of Pope Francis’ visit to New York City.
From April 2011 to August 2014, Kelly was the president and chief executive officer of the 2014 NY/NJ Super Bowl Host Company, the entity created to raise funds for and host Super Bowl XLVIII.
Prior to joining American Express, Kelly was the head of information systems at the White House from 1985 to 1987.
Kelly also held various positions in information systems and financial planning at PepsiCo Inc. from 1981 to 1985.
Kelly currently serves on the board of directors of Visa and Catalyst, as well as several entities in the Archdiocese of New York and is a guardian for the Council for Inclusive Capitalism with the Vatican.
He is chairman of the Payments Leadership Council and chairman of the board of the Mother Cabrini Health Foundation.
He is also a trustee of New York Presbyterian Hospital and Boston College.
In 2015, Kelly was named a Knight in the Order of Saint Gregory the Great, by Pope Francis.
Kelly holds a Bachelor of Arts degree in Computer and Information Science and a Masters of Business Administration degree from Iona College.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Al Kelly’s move on a scale of 0 to 10.
exechange reached out to Visa and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 47.2022 ($).