Visa CEO Al Kelly will step aside and the card network company will promote President Ryan McInerney to the chief executive role next February, the company said in a press release Thursday.
Kelly will stay on at the company as executive chairman. Visa, the biggest U.S. card network company, has been preparing McInerney for the top role for nearly a decade. He will take the new job on Feb. 1, according to the San Francisco-based company’s release.
“Ryan’s appointment reflects the Board’s very well-established and thoughtful succession plan,” the company’s lead independent board director, John Lundgren, said in the release.