Mastercard (NYSE: MA) announced that Ajay Banga, President and Chief Executive Officer, will transition to the role of Executive Chairman of the Board of Directors of Mastercard Incorporated on January 1, 2021.
Mastercard’s Board elected Michael Miebach, Chief Product Officer, to become Chief Executive Officer and a member of the Board of Directors on January 1, 2021 and, as part of the transition, he will become President of the company, effective March 1, 2020.
As President of the company, Miebach will oversee the sales, marketing, products, services and technology organizations. Mastercard’s current Chairman, Richard Haythornthwaite, will retire from the Board after more than a decade of exceptional service when Banga assumes the role of Executive Chairman.
Current Board member, Merit Janow, Dean of the faculty of Columbia University’s School of International and Public Affairs (SIPA), was elected by the Board to become Lead Independent Director on January 1, 2021. She will continue to serve as Chair of the Nominating and Corporate Governance Committee when Haythornthwaite retires. Janow is a globally recognized expert in international trade and investment with extensive experience in government and regulatory bodies. Her career and public board service provide significant insights on technology innovation and digital matters, including cybersecurity. She joined the Board in 2013.
FinSMEs
26/02/2020