Ajay Banga to step down as Mastercard CEO; Michael Miebach to take over

Banga will assume the role of Executive Chairman of the Board of Directors from January 2021

e4m by exchange4media Staff
Updated: Feb 26, 2020 12:05 PM
Mastercard

Ajay Banga has decided to step down as Mastercard President and Chief Executive Officer as per media reports.

Michael Miebach, at present the Chief Product Officer, will be taking over as the new CEO, Mastercard has said.

Banga will assume the role of Executive Chairman of the Board of Directors from January 2021.

Miebach will be handling sales and marketing, products, services and technology units.

Banga’s decision comes after 10 years of being the CEO.

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