Mastercard CEO Ajay Banga Steps Down, Served Company for 10 years
Mastercard's Indian-American President and Chief Executive Officer Ajay Banga will step down from his role and assume charge as Executive Chairman of the Board of Directors.
The organization announced Michael Miebach as a new CEO of the Mastercard.
In its statement, the company said that Banga will become Executive Chairman of the Board of Directors effective January 1, 2021.
Miebach, currently the Chief Product Officer, will become Chief Executive Officer and a member of the Board of Directors on January 1, 2021 and, as part of the transition, to become President March 1 this year.
The Board unanimously elected Miebach to his new role. As President of the company, Miebach will oversee the sales, marketing, products, services and technology organizations.
Banga, 60, who h...