Ajay Banga, main government officer of MasterCard Inc.

Pau Barrena | Bloomberg | Getty Photographs

Mastercard announced on Tuesday that CEO Ajay Banga will depart his latest place and take about as the company’s government chairman. 

The go will be effective Jan. 1, 2021. Banga will be having around as chairman for Richard Haythornthwaite, who has served in that position considering that Might 2006.

Michael Miebach, Mastercard’s main products officer, will realize success Banga as CEO.

Miebach has “as a demonstrated monitor history of creating products and solutions and jogging corporations globally,” Banga said in a assertion. “In the course of the training course of Michael’s 10 many years at Mastercard, he has been a important architect of our multi-rail strategy — like main the acquisition of Vocalink and the pending transaction with Nets–to address a broader established of payment flows.”

Mastercard’s announcement arrived a day immediately after the credit rating card enterprise warned the coronavirus outbreak could strike its 2020 earnings.

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