Sachin Mehra, the company’s chief financial officer (CFO), is moving to the new position of chief business officer, Mastercard said in a Tuesday (June 2) news release.
In this role, Mehra will oversee “sales enablement global partnerships, and digital commercialization under a single global go-to-market leadership structure,” the release said, adding that the executive “brings strong operational discipline, financial rigor, and commercial acumen to this role.”
Taking Mehra’s place as CFO is Ling Hai, Mastercard’s president for Africa, the Asia Pacific region, Europe and the Middle East.
“He brings broad operating experience across international markets, deep knowledge of our customers and products, and a strong commercial perspective to the role,” the release said.
Other changes include:
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- Linda Kirkpatrick, president of the Americas, will become chief services officer, succeeding Craig Vosburg, who is transitioning to vice chair/global ambassador.
- Dimi Dosis, president of Eastern Europe, Middle East and Africa, will become chief commercial payments officer, succeeding Raj Seshadri, who is becoming a senior strategic advisor to Mastercard CEO Michael Miebach.
- Jorn Lambert, chief product officer, will continue to lead consumer payments, while Tim Murphy, vice chair, will retire from Mastercard in October as planned.
“Mastercard has built strong momentum by staying close to customers and anticipating where their needs are headed,” said Miebach.
“That drives our innovation and how we deliver meaningful solutions for their customers. These leadership updates build on our strategy by aligning our team to that opportunity — strengthening execution, advancing a more connected customer experience and positioning the company for our continued growth.”
PYMNTS Intelligence collaborated with Mastercard recently on the report “Ready for Change: Why Nearly Half of SMBs Want to Ditch Cash and Checks.”
The research shows that many small and medium-sized business (SMB) owners want to rely less on checks and cash, but have practical reasons for sticking with legacy payments.
“Cash and checks remain woven into daily routines, supplier relationships, bookkeeping habits and cash-flow needs,” PYMNTS wrote Tuesday, adding that the report “suggests that business cards have room to grow, especially when they are positioned as tools for control, visibility and working capital rather than just payment products.”
The research also found that cash-heavy companies aren’t necessarily more resistant to change, and in many cases are the most interested in making a switch.
“That creates an opening for banks, card issuers and payments providers, but only if they solve for the reasons cash still works,” PYMNTS added.
