Mastercard names product chief Michael Miebach as CEO, Ajay Banga strikes to government chairman
Ajay Banga, chief government officer of MasterCard Inc.
Pau Barrena | Bloomberg | Getty Photos
Mastercard introduced on Tuesday that CEO Ajay Banga will go away his present place and take over as the corporate’s government chairman.
The transfer can be efficient Jan. 1, 2021. Banga can be taking on as chairman for Richard Haythornthwaite, who has served in that function since Could 2006.
Michael Miebach, Mastercard’s chief product officer, will succeed Banga as CEO.
Miebach has “as a confirmed monitor report of constructing merchandise and working companies globally,” Banga mentioned in a press release. “Throughout the course of Michael’s 10 years at Mastercard, he has been a key architect of our multi-rail technique — together with main the acquisition of Vocalink and the pending transaction with Nets — to deal with a broader set of cost flows.”
Mastercard’s announcement got here a day after the bank card firm warned the coronavirus outbreak might hit its 2020 income. The inventory traded 2% decrease within the…