Visa hires Vasant Prabhu of NBCUniversal as CFO; Byron Pollitt had announced retirement plans

MarketsAssociated Press

Visa said Monday it hired Vasant Prabhu of NBCUniversal as its new chief financial officer.

Prabhu, 55, will start at Visa on Feb. 9. He became CFO of NBCUniversal in June, and before that he worked for about 10 years as CFO of Starwood Hotels & Resorts Worldwide Inc.

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Visa Inc. announced in June that its current CFO, Byron Pollitt, would retire within a year. Pollitt has worked for Visa since 2007.

The Foster City, California-based company is the world's largest processor of debit and credit card payments. Its shares rose 43 cents to $255.34 on Monday. They have gained about 19 percent over the last 12 months.