Visa makes new addition to its board of directors

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Visa Inc. has elected Lloyd Carney as an independent director to its board of directors. Carney will also serve as a member of the board’s Audit and Risk committee.

Prior to being appointed by Visa, Carney was the CEO and director of Brocade Communications Systems Inc., an international supplier of networking software and hardware.

Between 2008 and 2012 he was also the CEO and director of Xsigo Systems, and IT and hardware company.

His appointment to Visa’s board of directors brings the total of members up to 12.

“Lloyd brings tremendous depth of knowledge in technology networks that will be invaluable to us as we continuously evolve our network to bring new, secure, innovative payment experiences to Visa cardholders and clients in more than 200 countries and regions globally,” said Charlie Scharf, Chief Executive Officer of Visa Inc.

The appointment comes at a very interesting time for the payment processor giant. June marks the opening of China’s bank card market to foreign companies. When the announcement was made, Visa and MasterCard shares surged.

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