Indian appointed as the new CEO of MasterCard

Posted By: Staff
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Washington, Apr 13: Just ten months after being appointed the company president, Indian-born Ajay Banga is all set to take over as the chief executive officer (CEO) of the electronic payment services provider MasterCard.

The 50-year-old IIM-Ahmedabad alumnus will be succeeding Robert W Selander, the company said in a statement released on Monday, Apr 12.

Selander, who has been heading the company since 1997, will step down on Jul 1 and Banga will take over as the CEO.

"I am excited to lead MasterCard at a time when the global opportunity for electronic payments has never been stronger," said Banga, who will also be part of the company board.

With this, the Pune-born Sikh joins the list of Indians such as Indra Nooyi (PepsiCo) and Vikram Pandit (Citigroup) who head global corporations.

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