Mastercard announced significant changes to its executive leadership, with Richard R. Verma rejoining the company as Chief Administrative Officer and Tim Murphy being appointed Vice Chair. Both positions are effective May 1 and will report to Michael Miebach, Mastercard’s CEO.
Richard R. Verma will oversee critical functions including Law, Government Affairs & Policy, Franchise, Corporate Security, Inclusion & Belonging, and Transformation, Risk & Operations. Verma previously served as U.S. Deputy Secretary of State for Management and Resources and was Mastercard's Chief Legal Officer from 2020-2023.
Tim Murphy, who has served as Chief Administrative Officer since 2021, will now oversee a range of strategically important initiatives, including the company’s relationships with global regulators. These appointments are expected to strengthen Mastercard's leadership in navigating complex regulatory environments and driving strategic growth.
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