The total for the year ended Sept. 30 includes a $2.5 million bonus, a total of $9 million in stock options, performance shares and restricted-stock units, as well as a $950,000 salary, Foster City, California-based Visa said today in a regulatory filing. Scharf’s fiscal 2013 pay package totaled $10.5 million.
Visa, the world’s biggest payments network, rose 12 percent in fiscal 2014, trailing the 13 percent advance for the Dow Jones Industrial Average. Revenue climbed 7.9 percent to $12.7 billion, the smallest annual increase since
Visa’s 2008 initial public offering. A stronger U.S. dollar, geopolitical tensions and low currency volatility crimped overseas business this year.
Scharf, 49, joined Visa in November 2012 from JPMorgan Chase & Co. The New York-based lender awarded him $12 million for his work in 2010, when he was CEO of the retail bank. Scharf moved to JPMorgan’s private-equity arm in 2011.
To contact the reporter on this story: Elizabeth Dexheimer in New York at edexheimer@bloomberg.net
To contact the editors responsible for this story: Peter Eichenbaum at peichenbaum@bloomberg.net Steven Crabill
Visa Inc. Chief Executive Officer Charlie Scharf was awarded $12.5 million for his work... Read More
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