Visa announced that Kelly Mahon Tullier will join the company as Executive Vice President and Deputy General Counsel. She joins Visa from PepsiCo, Inc., where she was the Senior Vice President and Deputy General Counsel. Ellen Richey, Chief Legal Officer, Chief Risk Officer, and member of the Executive Committee will continue in those roles through September 30, when she will become Vice Chairman – Risk and Public Policy. The Chief Risk Officer and the Chief Audit Executive will report directly to Ms. Richey. Ms. Richey will also lead a newly created function responsible for Public Policy at Visa, which will include ensuring that Visa continues to drive the future of payment security, being our voice with legislators, regulators and clients globally regarding payment system security, and other similar initiatives combining business and policy issues of strategic importance to Visa. She will also be responsible for coordinating global crisis management at the executive level.
Little Caesar Enterprises and Pepsi-Cola have teamed up to offer a scratch-off game card. “Family Fun Instant Win Game” delivers a fully integrated national promotion, providing Little Caesars customers across the country with an overall 1 in 25 chance of winning. Prizes include home entertainment systems, family fun night packages with retail certificates and Little Caesars gift cards; MP3 players; $10 Little Caesars gift cards; Little Caesars pizza and Crazy Bread; and Pepsi-Cola beverages. Little Caesars is the largest carry-out pizza chain in the world with restaurants on five continents.
American Express announced that Steven Reinemund, Chairman of the Board of PepsiCo, has been nominated to stand for election to its Board of Directors. Reinemund previously served as Pepsi’s CEO in addition to Chairman of the Board. Earlier in his PepsiCo career, he held the positions as PepsiCo’s President and Chief Operating Officer. Reinemund began his distinguished 23-year long career with PepsiCo in 1984 with the Pizza Hut division, now part of Yum! Brands, Inc., and became CEO of that division in 1986. During his tenure, he also led the North American snack division and Frito-Lay’s worldwide operations. Reinemund received a MBA from the University of Virginia.
Charles Prince, Citigroup’s CEO, yesterday announced that Marjorie Magner, Chairman and CEO of the company’s Global Consumer Group, will be leaving the company by October 1st. Prince then named Steven Freiberg, Chairman and CEO of Citi Cards and Ajay Banga, President of Retail Banking North America, as co-heads of the Global Consumer Group. Freiberg will lead the North American business (U.S. and Canada) and Banga will lead the International operations. Prince said the new structure will enable the company to better focus on customer’s needs in an integrated fashion across all product lines and more effectively respond to the specific opportunities in markets at different stages in their development. Last month, Citigroup announced that its President, COO and Board member Robert Willumstad will be leaving next month after he was reportedly disappointed with not receiving the CEO position to succeed Sanford Weill. Citigroup recently reported that second quarter profits for its credit card business in North America inched up by a mere 1% to $861 million. Credit card outstandings for North America also grew a modest 1% over 2Q/04 to $139.8 billion. Citi’s account base at the end of the second quarter declined by 1.6 million accounts from the prior quarter and was down 2% from one-year ago. (CF Library 7/15/05; 7/18/05)