Visa CEO Stops the Presses

Retiring Visa chief executive Joseph Saunders has never particularly enjoyed speaking to the press. Maybe he just wanted to be on the other side of the interview.

When asked about his post-retirement plans on Wednesday, Saunders responded with his own question: "Do you need a cub reporter?" he asked an American Banker editor.

For his own sake, we can only hope that Saunders was joking. He earned $11.8 million last year as Visa chairman and CEO; business journalists make a median annual salary of $65,000 to $70,000, according to the Society of American Business Editors and Writers.

Saunders, 66, will officially step down as CEO Nov. 1, and will remain chairman until March 31. Jokes aside, he told American Banker that there are "a lot of things I'm thinking about" doing post-retirement, including "a number of things with non-profits, particularly as it relates to education."