Mastercard’s chief financial officer Martina Hund-Mejean will retire in 2019 after 11 years in the role. Chief financial operations officer Sachin Mehra will succeed Hund-Mejean as CFO on April 1, and will report to Ajay Banga, the company’s president and CEO.
Hund-Mejean joined the company in 2007 and helped drive the transition of Mastercard to a publicly-traded company.
“Martina maintained the highest standard of leadership, strategic thinking, and financial stewardship in her years as CFO,” said Banga. “Martina’s tenure is distinguished by her legacy of integrity, mentorship, and promotion of diversity. It’s been my great fortune and privilege to partner with such an accomplished executive and respected leader who’s contributed so much to Mastercard’s success.”
Before joining MasterCard, Hund-Mejean was treasurer of Tyco International and Lucent Technologies.
“I look back at my tenure with pride in our accomplishments and also tremendous excitement for the opportunities that will come next,” said Hund-Mejean. “Sachin is a tremendous leader with extensive financial and international management expertise and the ideal candidate to help lead Mastercard into the future.”
Mehra joined Mastercard in 2010 as group executive and treasurer. Before joining Mastercard, Mehra held treasury and finance roles at Hess, General Motors, and GMAC.
“We have always been deliberate in the way in which we develop leaders as part of our succession program,” said Banga. “Sachin is an outstanding executive who had key roles in the finance organization and in the product organization, where he led commercial products and solutions, before returning to finance in 2018 in a broader role as chief financial operations officer.”
In its latest quarterly report, MasterCard disclosed revenue of $3.81 billion. The company holds a 22% share of the total payment interchange market, with 853 cards in circulation.