Visa unexpectedly announced the resignation of CEO Charlie Scharf, making way for longtime Amex executive Alfred F. Kelly, Jr., a current board member, to take over the role effective Dec. 1.

Scharf, 51, cited difficulties in continuing to perform his job while balancing family responsibilities on both coasts, telling Visa's board that running a San Francisco-based company "just doesn't work for me personally right now," according to an Oct. 17 press release from Visa.

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