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Wall Street Journal / Biz - Money

Visa Fires Top Executive Who Handled PayPal, Apple Partnerships

Visa fired Jim McCarthy, one of its most high-profile executives, citing behavior that violated company policy.
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AnnaMaria Andriotis

Visa Inc. fired one of its most high-profile executives on Friday, citing behavior that violated company policy.

Jim McCarthy, who handled innovation and strategic partnerships for Visa with companies including PayPal Holdings Inc. and Apple Inc., was fired over unspecified behavior. The decision was announced in a memo that was sent to company staff by Ryan McInerney, Visa’s president.

Mr. McCarthy couldn’t immediately be reached for comment.

Mr. McCarthy was with Visa for about 18 years. He had become an important face of the company within the technology community.

The executive reported to Mr. McInerney, who reports to Visa Chief Executive Alfred Kelly. Both Messrs. McInerney and Kelly were involved in the decision to fire Mr. McCarthy, according to a person familiar with the matter.

The behavior became known to Mr. McInerney in recent days, the person added. Mr. McCarthy’s firing was reported earlier by technology website Recode.

Visa is the largest card network in the U.S. through which debit and credit-card payments run.

Mr. McCarthy is being succeeded on an interim basis by Jack Forestell, Visa’s global head of merchant sales and solutions, according to the company.

Write to AnnaMaria Andriotis at annamaria.andriotis@wsj.com

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