Visa Inc (V.N) said Chief Executive Charles Scharf, who orchestrated the company's reunion with its European affiliate, is stepping down and will be succeeded by former American Express Co (AXP.N) President Alfred Kelly.

Kelly, who already sits on Visa's board of directors, will take over as CEO following Scharf's resignation, which is effective Dec. 1.

Kelly said in an interview with Reuters that he "got a front row seat to the various opportunities and issues the company faces" as a Visa board member since January 2014.

Scharf has been CEO since November 2012, after working with JPMorgan Chase & Co's (JPM.N) retail banking business and its private equity arm.

"He has helped transform Visa .. into a technology-driven digital commerce company and has led a strategy that will benefit this company for years to come," Robert Matschullat, the company's independent chairman, said in a statement.

Kelly is also the CEO of Intersection Co, a firm partly owned by Sidewalk Labs, an Alphabet Inc (GOOGL.O) company.

"I don't come in here expecting to make a lot of big changes," he said.

Scharf said in a letter to employees that he could no longer spend the time in San Francisco necessary to do his job properly and is resigning to spend more time with his family.

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