Executive Changes: MasterCard Announces Organizational Realignment

MasterCard Incorporated (NYSE: MA) today announced an organizational realignment designed to improve performance in the marketplace by broadening executive responsibilities, hiring a new senior executive and beginning the transition process for the retirement of its Chief Operating Officer, Alan J. Heuer, at the end of 2008. 

Heuer has been appointed to the Office of the CEO where he will hold the newly created position of Vice Chairman, and will continue to report to MasterCard President and Chief Executive Officer Robert W. Selander. Also assuming new responsibilities will be:

These executives report to the Office of the CEO.

W. Roy Dunbar, President, Global Technology & Operations; Noah J. Hanft, General Counsel and Corporate Secretary; and, Michael W. Michl, Chief Administrative Officer, continue in their current roles and also will report to the Office of the CEO.

These nine individuals will comprise the company’s Executive Committee, which will have responsibility for major policy and operating matters across the company.

Additionally, Timothy H. Murphy has been named President, U.S. region. He was previously Group Executive, Customer Business Planning and Analysis.

All appointments with the exception of Ms. Hund-Mejean’s are effective November 5. Her appointment will be effective as of November 15. During the interim period, Chris McWilton will have dual responsibility as CFO and President, Global Accounts.

"One of my most important responsibilities as CEO is to plan with our board of directors the continued development of our executive talent, and to manage succession planning," said Selander. "It’s important that our senior team is composed of executives who have produced results, possess leadership capabilities and have had challenging experiences in different functions and geographies. I am very pleased that Martina is joining us, as she brings an outstanding financial and international track record," Selander stated.