Visa USA Names Wells Fargo President John Stumpf As New Chairman
The San Francisco Business Times reports that Wells Fargo president and COO John Stumpf has been elected chairman of Visa USA.
Stumpf has served on Visa's board since 2002. As part of this week's move to Visa USA's chairmanship, Stumpf will resign his posts on the Visa International and Inovant boards.
Stumpf takes over the position of chairman from Pat Phillips, Bank of America's president of premier banking and investments. Phillips, a member of the Visa USA board since 1990, retires as Visa USA chairman, a post he has held for two years. Philips also retires from the Visa International board where he has served since 1995.
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