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Mastercard shuffles executive top order in series of appointments

Mastercard, on 15th April, is said to have appointed new people to fill in their executive roles of Head of Global public policy, Chief administrative Officer and more.

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Photo Credit : Source: BusinessWire,

A former US Ambassador to India from 2014 to 2017, Richard Verma has been appointed as General Counsel and Head of Global Public Policy by MasterCard.


Richard Verma has 25 years of international experience in business law, diplomacy and military affairs. He joined MasterCard in October 2020 and is by far the only Indian American citizen to be serving in this position. The company made a press release stating, Richard will be leading the company's core legal and regulatory functions along with global and regional public policy teams. Verma will also be joining the Mastercard's Management Committee.


Tim Murphy, the Chief Administrative Officer on his appointment is reported to have said, "In just a few short months, Rich has had an impact on our engagement with policymakers and others across the globe. We'll look to continue to tap into his extensive experience in public policy, geopolitics, trade and international law, and strong relationships to support the global move to a digital economy."


Also on April 15, Tim Murphy was appointed as the Chief Administrative Officer from his older position as the company General Counsel. Murphy will now oversee the Law, Franchise and Integrity activities of the company along with the management of its People and Capabilities function. Meanwhile, Michael Fraccaro will continue serving as the Chief People Officer and be a part of the company’s management committee, reporting to Tim Murphy. 


With a commitment of over 21 years to the company, Murphy's efforts have helped shape Mastercard. He started as one of the lead lawyers for the company at its IPO and has since then, he has combined his diverse capabilities to offer business and legal expertise to aid the company's growth. He has, at different times played the role of the president of the company’s U.S. region and Chief Product Officer.


Michael Miebach, Chief Executive Officer is reported to have said, "In the decade I’ve worked with Tim, I’ve seen firsthand his ability to drive transformational change while sustaining fidelity to the core values that make Mastercard a special place to work...We have a unique opportunity in bringing together the teams that care about our people, law, policy, security, franchise, compliance and inclusion. Tim is the right person to use this moment to advance the strategy Mastercard needs to thrive in an increasingly complex world.”


Two other executive changes were also reported to have been made with Ron Green appointed to the Management committee from his earlier post as Mastercard’s Chief Security Officer and Randall Tucker is now the executive vice president from his previous role of the company’s Chief Inclusion Officer. His role will include his previous responsibilities of leading a refreshed Diversity, Equity & Inclusion team.



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