Visa Chief Executive Charles Scharf, who orchestrated the company's reunion with its European affiliate, is stepping down and will be succeeded by former American Express Co President Alfred Kelly, Reuters reported.

Kelly, who already sits on Visa's board of directors, will take over as CEO following Scharf's resignation, which is effective December 1.

Former American Express Co President told Reuters, that he “got a front row seat to the various opportunities and issues the company faces” as a Visa board member since January 2014.

“I don't come in here expecting to make a lot of big changes,” he said.

Scharf said in a letter to employees that he could no longer spend the time in San Francisco necessary to do his job properly and is resigning to spend more time with his family.