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HomeAIMastercard to realign organisational structure with three new divisions

Mastercard to realign organisational structure with three new divisions

Date:

  1. Organizational Restructuring:
    • Mastercard announces plans to reorganize its teams into three units: Core Payments, Commercial and New Payment Flows, and Services.
  2. Leadership Changes:
    • Jorn Lambert, previously Chief Digital Officer, will now serve as Chief Product Officer and lead the Core Payments unit.
    • Raj Seshadri, a former BlackRock executive, will become Chief Commercial Payments Officer, overseeing the Commercial and New Payment Flows unit.
    • Craig Vosburg, who served as Chief Product Officer, will take on the role of Chief Services Officer, leading the Services unit.
    • Greg Ulrich will lead the newly established Data and AI team as Chief AI and Data Officer.
  3. Focus Areas:
    • The core Payments unit will focus on core payments, associated products and platforms, and real-time payment services.
    • The commercial and New Payment Flows unit will prioritize solutions for remittances, B2B payments, commercial cards, and healthcare payments.
    • The services unit will oversee fraud management, risk mitigation, and cybersecurity.
  4. CEO’s Perspective:
    • CEO Michael Miebach emphasizes the goal to diversify revenue streams and differentiate products and solutions through restructuring.
  5. Retirement Announcement:
    • Ajay Bhalla, Mastercard’s President of Cyber and Intelligence, is set to retire after more than 30 years with the company.
  6. Implementation Timeline:
    • The restructuring plans are scheduled to take effect on 1 May

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