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michael miebach

Mastercard CEO to step down

4 mins read

The FINANCIAL — Credit card and electronic payments giant Mastercard – announced that Ajay Banga, President and Chief Executive Officer, will transition to the role of Executive Chairman and Michael Miebach, Chief Product Officer, to become Chief Executive Officer and a member of the Board of Directors. Also, the company said the coronavirus outbreak could negatively impact revenues this quarter by 2% to 3%. Banga, who took charge of the company just after the 2008-09 financial crisis, has seen the payment processor’s revenue triple during his tenure as online shopping gained prominence around the world. India-born Banga will take on…

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Mastercard CEO to step down

4 mins read

The FINANCIAL — Credit card and electronic payments giant Mastercard – announced that Ajay Banga, President and Chief Executive Officer, will transition to the role of Executive Chairman and Michael Miebach, Chief Product Officer, to become Chief Executive Officer and a member of the Board of Directors. Also, the company said the coronavirus outbreak could…