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CEO Awards
Most Respect CEOs
In collaboration with the
International Institute of Management
Hall of Fame
CEO Profile
Joseph W. Saunders - CEO of Visa Inc
The CEO of the largest IPO in US History
Company Profile
Industry: Payment Processing Network
Employees: 5,700
Revenues: $ 7B
Market Cap: $ 64B
CEO Achievements
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When Saunders took the helm as chairman and CEO at Visa
In, he
successfully combined several independent Visa entities –
including operating units in the US, Canada, Latin America, Asia
Pacific, and the Middle East – into a single global company. The Saunders-led $19 billion Visa Inc. IPO, which merged
these entities, remains the largest IPO in U.S. history.
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Under Saunders leadership Visa had a stellar track record of financial performance since the IPO. In the midst of the country’s economic challenges Visa has
continued to post strong operational and financial performance,
all while delivering excellent results for its shareholders.
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Since the IPO, Visa has consistently exceeded analysts’
expectations for each earnings period. The financial community
has praised the resilience of Visa’s business model, the
company’s diverse product set, and senior leadership’s ongoing
commitment to expense management.
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In 2009, Visa returned more than $2.1 billion to
shareholders in the form of dividends and buybacks.
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Additionally, Saunders has aggressively committed Visa to
investing in innovation that enables consumers and clients to
use Visa products and services in more ways and in more places.
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To position Visa for future growth, in 2009 Visa invested in
its processing capabilities in two key areas:
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Visa established a joint venture – Visa Processing
Service Pte. Ltd. (VPS) with Yalamanchili International to
deliver flexible processing services to clients outside the
U.S.
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In parallel, Visa opened a new global data processing
center in North America with several IT enhancements that
further improve the flexibility, reliability, and scale of
VisaNet and increase Visa's ability to process the
ever-growing number of increasingly complex electronic
payments around the world.
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Under Saunders, Visa has increased its
commitment to global financial literacy. In 2009, Visa announced
at the Clinton Global Initiative Conference, that it would
educate 20 million people worldwide about the fundamentals of
money management by May 2013.
Key Challenges:
CEO Bio
Joseph W. Saunders was named chairman and CEO of Visa Inc. in May 2007. Prior to his current role, Saunders served
Visa International as executive chairman of the transition
governance committee. He previously served as president of card
services for Washington Mutual, Inc. after the acquisition of
Providian Financial Corporation, where he acted as president and
chief executive officer. From 1997 until 2001, Saunders served as
chairman and chief executive officer of Fleet Credit Card Services
at FleetBoston Financial Corporation. Saunders holds a B.S. in
business administration and an MBA, both from the University of
Denver.
CEO Insights
"Financial regulatory reform is meant to make our financial
system safer and fairer for consumers. Now, it is about to be
hijacked by the nation’s largest retailers, whose lobbyists have
attached an amendment that would net their companies billions of
dollars at consumers' expense. It does the direct opposite of the
bill's intended purpose. It should be stripped out before the bill
reaches President Barack Obama" - Joseph W. Saunders, CEO of Visa
Inc
Online commerce continues to grow rapidly, and (CyberSource)
acquisition will enable Visa to offer new and enhanced services that
will better meet the growing demand among merchants globally for
robust, secure online payment processing capabilities which in turn
will grow the entire eCommerce category...And, as eCommerce
increasingly migrates to mobile devices, we believe the combination
of Visa and CyberSource technology and services will position Visa
to lead in mobile eCommerce. - Joseph W. Saunders, CEO of Visa Inc
Syncada complements Visa’s core payments business by expanding
our capabilities in B2B supply chain management. By investing in
this leading platform, we can offer Visa’s financial institution
clients around the world access to Syncada’s services, backed by a
comprehensive sales and support infrastructure that will help extend
the reach and capabilities of Visa’s commercial product suite -
Joseph W. Saunders, CEO of Visa Inc
I am confident that Visa's world-class employees, competitive
strategy, leading brand and network, and diverse product offering
will lead to continued success for the company...My experience
working with Visa has demonstrated that this is a high-performing,
highly focused team that delivers results.- Joseph W. Saunders, CEO
of Visa Inc
About Visa Inc
Visa is the world’s largest payments technology company. It
connects consumers to 1.7 billion cards, millions of ATM and
acceptance locations, and 16,400 financial institutions in more than
200 countries and territories around the globe, enabling them to use
digital currency instead of cash and checks. At the heart of
business is VisaNet, one of the world’s most advanced processing
networks. It is capable of handling more than a half billion
transactions per day, with unmatched reliability, convenience, and
security no matter whether the transactions take in place in Mumbai
or Memphis. Visa does not issue cards, extend credit or set rates and fees
for consumers. Visa’s network innovations, however, enable its bank
customers to offer consumers more choices on how to pay – debit,
prepaid, or credit – and for what – a car, a monthly cable, or a
visit to the doctor’s. From the world’s major cities to remote areas
without banks, people are increasingly relying on digital currency
along with mobile technology to use their money any time, make
purchases online, transfer funds across borders and access basic
financial services. This makes life easier and better for consumers,
all while enhancing the efficiency of economies around the world.
More about CEO Awards
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