Visa Inc.'s board of directors named Robert W. Matschullat as independent, non-executive chairman of the world's largest payments network.

Matschullat's appointment, which takes effect April 1, follows the retirement of Executive Chairman Joseph W. Saunders, the Foster City, California-based company said in a statement distributed by Business Wire. Matschullat, a former chairman of Clorox Co., has been a Visadirector since 2007, according to the statement.

Matschullat "possesses a wealth of experience in global consumer products and corporate finance that has been of great benefit to the board and the company," Saunders said in the statement.

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