Mastercard names insider as new CEO
AP Business Writer | Hagadone News Network | UPDATED 5 years, 9 months AGO
Mastercard is naming an insider as its new CEO.
Michael Miebach, who is currently the company's chief product officer, will takeover for CEO Ajay Banga to start 2021. Banja will become the company's executive chairman, replacing the retiring Richard Haythornthwaite.
Miebach will also get a seat on the board at the company, based in Purchase, New York.
The Tuesday announcement comes a day after Mastercard Inc. said that first-quarter revenue growth might be about 2 to 3 percentage points lower than previously predicted due to the viral outbreak in China.
Shares fell 2.1% in premarket trading.
ARTICLES BY AP BUSINESS WRITER
Drive-thru dominates even as dine-in restrictions ease
Even with cities like New York relaxing rules for dining in, sales figures from chains like McDonalds and Domino’s Pizza on Thursday suggest that most people continue to favor keeping their distance.
Global stocks mostly higher on US stimulus hopes
BEIJING (AP) — Global stock markets and Wall Street futures mostly rose Friday after President Donald Trump said talks had resumed on an aid package for the struggling U.S. economy.
Global stocks follow Wall Street higher on stimulus hopes
BEIJING (AP) — Global stock markets and Wall Street futures rose Friday after President Donald Trump said talks had resumed on an aid package for the struggling U.S. economy.