Mastercard Inc.’s pick for its next chief executive puts more muscle behind the company’s effort to expand beyond its legacy cards business. The company said Tuesday that Ajay Banga, its chief for nearly a decade, will be replaced by Chief Product Officer Michael Miebach effective Jan. 1. Mr. Banga will become executive chairman of the board. Current Chairman Richard Haythornthwaite will retire.
Source: Wall Street Journal February 25, 2020 12:43 UTC