MasterCard Names New President

MasterCard announced yesterday (Nov. 3) that Craig Vosburg will take on the role of president of North America Markets, effective Jan. 1, 2016.

Vosburg will succeed Chris McWilton, who announced plans to leave the company as of Dec. 31. Prior to McWilton’s appointment as the president of North America Markets in 2013, he held various roles during his time at MasterCard, including corporate controller, CFO and president of MasterCard Global Accounts and president of U.S. Markets.

During his time as CFO, McWilton helped MasterCard to achieve the largest domestic initial public offering (IPO) of 2006 and the 12th largest domestic IPO in U.S. history at the time.

“I want to acknowledge Chris’ contributions to the growth and evolution of MasterCard,” Ajay Banga, president and CEO of MasterCard, said in a statement. “I’d also like to personally thank him for his commitment over the years in helping to make our company what it is today. The entire company joins me in wishing Chris and his family all the best going forward.”

In his new role, Vosburg will be responsible for overseeing all of MasterCard’s customer-facing activities in the United States and Canada, which includes sales, business development, strategy and relationship management with issuers, merchants, governments and acquirers.

During his time as Chief Product Officer, Vosburg was at the helm of the development, commercialization and management of the MasterCard’s global Core Products offerings, which covers consumer credit and debit, commercial, prepaid and loyalty solutions.

“I’m pleased to announce Craig’s appointment. His experience, both global and domestic, make him the ideal person to drive our business forward,” said Banga. “I’m confident Craig will have great success in his new role.”

Prior to joining the company in 2006 as the head of MasterCard Advisors in Southeast Asia, Greater China, and South Asia/Middle East/Africa, Vosburg gained global experience earlier in his career with Bain & Company and A.T. Kearney and spent time working in commercial banking at CoreStates Financial Corporation.

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