Mastercard names product chief Michael Miebach as CEO, Ajay Banga moves to executive chairman

Mastercard names product chief Michael Miebach as CEO, Ajay Banga moves to executive chairman

Ajay Banga, chief executive officer of MasterCard Inc.

Pau Barrena | Bloomberg | Getty Images

Mastercard announced on Tuesday that CEO Ajay Banga will leave his current position and take over as the company’s executive chairman.

The move will be effective Jan. 1, 2021. Banga will be taking over as chairman for Richard Haythornthwaite, who has served in that role since May 2006.

Michael…

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