VISA, INC.

(V)
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Delayed Nyse  -  04:00 2022-08-08 pm EDT
213.32 USD   -1.18%
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VISA INC. : Change in Directors or Principal Officers (form 8-K)

06/27/2022 | 09:12am EDT

Item 5.02 Departure of Directors or Certain Officers: Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On June 27, 2022, Visa Inc. (the "Company") announced that on June 23, 2022, James Hoffmeister, Senior Vice President, Global Corporate Controller and Chief Accounting Officer, tendered his resignation, effective July 1, 2022. Mr. Hoffmeister will transition to the role of Chief Financial Officer of Visa Europe Limited on July 1, 2022.

The Company also announced that on June 23, 2022, Peter Andreski, age 49, was appointed as Senior Vice President, Global Corporate Controller and Chief Accounting Officer of the Company, effective July 1, 2022. Mr. Andreski has served as Senior Vice President, Global Head of Revenue Operations of the Company since June 2019. Prior to Visa, Mr. Andreski held a variety of accounting and finance leadership positions with the Boeing Company, ABB Ltd. and Deloitte & Touche. Mr. Andreski earned a Bachelor of Science degree in Business Administration - Accounting from the University of Nebraska in 1995 and a Master of Business Administration degree from the University of Washington in 2012. He is a certified public accountant in the state of Washington.

In connection with this appointment, Mr. Andreski will receive an annual base salary of $450,000 and will be eligible to participate in the Visa Inc. Incentive Plan with a target opportunity of 65% and a maximum opportunity of 130% of his annual base salary. Mr. Andreski will also be eligible to participate in the Company's long-term incentive plan. Mr. Andreski's target long-term incentive value will be $500,000, with his actual grant value determined at the conclusion of each fiscal year based on an evaluation of his performance. Any long-term incentive award will be subject to the terms and conditions, including vesting requirements, of the Company's 2007 Equity Incentive Compensation Plan, as amended, and the individual award agreement corresponding to the award.

The Company intends to enter into its standard form of indemnification agreement with Mr. Andreski. There are no arrangements or understandings between Mr. Andreski and any other persons pursuant to which he was selected as an officer, he has no family relationships with any of the Company's directors or executive officers, and he has no direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K.

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Analyst Recommendations on VISA, INC.
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Financials (USD)
Sales 2022 29 075 M - -
Net income 2022 14 998 M - -
Net Debt 2022 5 091 M - -
P/E ratio 2022 30,4x
Yield 2022 0,70%
Capitalization 441 B 441 B -
EV / Sales 2022 15,4x
EV / Sales 2023 13,7x
Nbr of Employees 21 500
Free-Float 78,7%
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Mean consensus BUY
Number of Analysts 35
Last Close Price 213,32 $
Average target price 256,28 $
Spread / Average Target 20,1%
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Managers and Directors
Alfred F. Kelly Chairman & Chief Executive Officer
Ryan McInerney President
Vasant M. Prabhu Vice Chairman & Chief Financial Officer
Rajat Taneja President-Technology
Kelly Mahon Tullier Vice Chairman, Secretary & Chief People Officer
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