Mastercard chairman Banga to retire at year-end, Janow to head Board
Reuters
Published Sep 21, 2021 04:28PM ET
Updated Sep 21, 2021 05:06PM ET
(Reuters) -Mastercard Inc said on Tuesday Chairman Ajay Banga would retire on Dec. 31, nearly a year after he stepped down as the payment processor's chief executive.
The company said current lead independent director Merit Janow would be the non-executive independent chair and would assume her new role on Jan. 1, 2022.
Janow, who joined the board in 2014, is also a dean and professor of international economic law and international affairs at Columbia University's School of International and Public Affairs, the company said in a statement.
Earlier this year, Banga stepped down from his role as the CEO of the payments processor. He was replaced by company insider Michael Miebach.
Banga had taken charge of the company just after the 2008-09 financial crisis. During his tenure as the top boss, Mastercard (NYSE:MA)'s revenue tripled as online shopping gained prominence around the world.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.