Mastercard CEO Ajay Banga to step down, insider Michael Miebach tapped
Updated : February 26, 2020 07:54 AM IST
India-born Banga will take on the role of executive chairman, while Miebach will become the company's president on March 1.
Before joining Mastercard as president of Middle East and Africa in 2010, Miebach served as managing director at Barclays Bank and general manager at Citibank.
Miebach will also receive an equity grant with a target value of $6.25 million.