Mastercard Shifts Leadership Positions, Chairman Retires

Mastercard has announced that Ajay Banga, President and Chief Executive Officer, is leaving his position to move into the role of Executive Chairman of the Board of Directors of Mastercard, effective on January 1, 2021. Banga will be succeeded by Mastercard’s Chief Product Officer Michael Miebach, who first joined the company in 2010 as president of Middle East and Africa. He has served as Mastercard’s Chief Product Officer since 2016 and has headed the network’s new products and innovation team since 2018...