Visa Inc. (V:US)’s John Partridge, who retired as president of the world’s largest payments network in March, will receive a base salary of $50,000 a month to remain with the company and work on special projects.
Partridge will also be paid $562,500 in November as a pro- rated bonus for his work as president through the end of last month, the Foster City, California-based firm said in a filing today. Partridge, 63, will continue to be eligible for other benefits given to U.S.-based employees, the filing said. Visa announced his planned retirement in a December statement.
Partridge was paid a salary of $750,029 in fiscal 2012, according to the firm’s most recent proxy statement. He received $5.58 million in total compensation last year, including $1.47 million in stock, $862,512 in options and a $1.82 million cash bonus, the firm said.
He joined the company in 1999 and named president in October 2009.
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