Tuesday, November 13, 2007
MasterCard Worldwide and Visa Inc. continue to progress on their separate corporate paths. MasterCard reorganized its executive team and created several new positions. Visa Inc. filed a registration statement with the U.S. Securities and Exchange Commission (SEC).
MasterCard's organizational realignment is designed to improve performance in the marketplace by broadening executive responsibilities. The company's new executive committee will oversee major policy and operating efforts across the company.
Robert W. Selander, who navigated the company's transition from a membership card Association to a publicly traded company, continues as MasterCard's President and Chief Executive Officer. The executive committee consists of:
Visa's filing with the SEC pertains to a proposed initial public offering of class A common stock. JPMorgan Worldwide Services Securities, Goldman Sachs Group Inc., Banc of America Securities LLC, Citi, HSBC Securities (USA) Inc., Merrill Lynch & Co., UBS Investment Bank and Wachovia Securities are acting as joint book runners for this offering. While the registration statement has been filed, it is not yet effective, so no Visa securities may be bought or sold at this time.
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