Visa CEO Charlie Scharf to resign


Visa Inc said Chief Executive Charlie Scharf has decided to resign, effective Dec. 1.

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The company named Alfred Kelly Jr, a former president of American Express Co and a current Visa board member, as CEO.

Visa said Scharf had informed the board that he decided to resign because he could no longer spend the time in San Francisco necessary to do the job effectively.

(Reporting by Anya George Tharakan in Bengaluru)