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Visa sacks global innovation chief for violating company policy

Visa Inc. fired its global head of innovation and strategic partnership after his behavior violated company policy, The Wall Street Journal reported Dec. 2, citing a company memo.

Jim McCarthy was responsible for strategic partnerships with the likes of PayPal Holdings Inc. and Apple Inc. He joined Visa in 1999.

"Jim is an 18-year veteran of Visa and has contributed much to our company over the years," an internal memo from Visa President Ryan McInerney read, according to a report from tech news website Recode. "However, in response to information that recently came to our attention, we determined that Jim had violated Visa policy. We cannot ignore behavior — at any level — that runs counter to our leadership principles and culture."

Visa spokesperson Amanda Pires said the company does not comment on personnel matters.