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Ajay Banga to step down as Mastercard CEO to take up new role

Nabanita Dutta

News Editor

Ajay Banga, the Mastercard CEO is going to step down as Michael Miebach has been announced as the new CEO. Banga is going to assume charge as Executive Chairman of the Board of Directors effective January 1, 2021. Miebach is the current Chief Product Officer and he will become CEO and a member of the board of Directors on January 1, 2021, as part of the transition. Miebach was appointed for the role unanimously.