Visa Inc. said Thursday that it had shed seven members from its board of directors.
The board's overall size was reduced from 17 to 10. Among the members whose seats will not be filled is David I. McKay, the group head of Canadian banking for Royal Bank of Canada.
The announcement came at Visa's annual stockholders meeting. The move stems from an October meeting of Visa's nominating and corporate governance committee.
The departing directors are Hani Al-Qadi, Charles T. Doyle, Peter Hawkins, McKay, Charles W. Scharf and Segismundo Schulin-Zeuthen.
They "have served as valuable members and trusted advisers to our board of directors for many years," Joseph Saunders, Visa's chief executive, said in a press release.
"We are very grateful to them for their contributions."
Visa's board now comprises Gary P. Coughlan, Mary B. Cranston, Francisco Javier Fernandez-Carbajal, Robert W. Matschullat, Cathy E. Minehan, Suzanne Nora Johnson, David J. Pang, Joseph Saunders, William S. Shanahan and John A. Swainson.
