Mastercard CEO Ajay Banga to step down in 2021, to become Exec Chairman

Mastercard has said that CEO Ajay Banga will step down at the start of 2021 and take on the role of Executive Chairman. Banga will succeed Richard Haythornthwaite, who has served as Chairman since May 2006. Michael Miebach, who is currently the Chief Product Officer, will replace Banga and will also get a seat on the board at the company.