SAN FRANCISCO (AdAge.com) -- While in the throes of a $600 million global media consolidation, Visa has tapped Pepsi veteran Antonio Lucio as its first global chief marketing officer.
Mr. Lucio, a PepsiCo executive since 1995, was most recently chief innovation and health and wellness officer. At Visa, he will report to President Hans Morris. His previous marketing experience includes stints at Kraft, RJR and P&G.
'Creative strategic thinker'
In an internal announcement, Mr. Lucio was termed a "creative strategic thinker with a strong emphasis on deliverable results," an executive familiar with the situation said. Visa declined to comment, and Mr. Lucio couldn't be reached.
Though his post is new, Mr. Lucio takes over in part for Susanne Lyons, chief marketing officer for the U.S., who retired earlier this year, and John Elkins, now-departed Visa marketing chief.
He joins the financial-services company just as it is about to launch an initial public offering expected to raise as much as $10 billion. It would be the second-largest IPO in history, eclipsed only by AT&T Wireless Group, which raised $10.6 billion at the height of the dot-com boom in 2000.
Visa is in the midst of a $600 million global media consolidation. Finalists in that review are Aegis Group and WPP Group, both London; Omnicom Group, New York; and Publicis Groupe, Paris. A decision had been expected this month, but it is unknown at this time whether Mr. Lucio's appointment will have implications for the review. EEM Group, London, is the consultant.
Omnicom's TBWA/Chiat/Day, Playa del Rey, Calif., is Visa's creative agency; AKQA is its interactive shop.