Mastercard, the Purchase, New York payments company, announced Wednesday (Feb. 13) that its chief financial officer is retiring.
In a press release, Mastercard said that after more than a decade as CFO Martina Hund-Mejean will retire in the spring. Sachin Mehra, Mastercard's current chief financial operations officer, will succeed Hund-Mejean as CFO on April 1, reporting to Mastercard President and Chief Executive Officer Ajay Banga.
“Martina maintained the highest standard of leadership, strategic thinking, and financial stewardship in her years as CFO,” said Banga in the press release. “She helped drive the transition of Mastercard to a publicly-traded company, during which time Mastercard stakeholders participated in remarkable growth and value creation. 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.”
Mehra joined Mastercard in 2010 as a group executive and treasurer, overseeing treasury strategy and operations, global settlement, customer credit risk management, and enterprise risk management. Prior to Mastercard Mehra was responsible for treasury and finance at Hess, General Motors and GMAC. He holds a Master of Business Administration degree from the Darden Business School at the University of Virginia and received his undergraduate degree in commerce from Sydenham College at the University of Mumbai, India.
“We have always been deliberate in the way in which we develop leaders as part of our succession program,” said Banga in the press release announcing the management changes. “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. His deep knowledge of Mastercard and the marketplace will be key to continuing our Grow, Diversify and Build strategy. He has a keen understanding of the opportunities ahead of us and how best to capitalize on them.”