Mastercard CFO Martina Hund-Mejean to retire; Sachin Mehra to take over
Martina Hund-Mejean will retire after more than a decade serving as chief financial officer at Mastercard.
Sachin Mehra, chief financial operations officer, will succeed Hund-Mejean as CFO on April 1, reporting to Mastercard President and CEO Ajay Banga.
“It’s been an honor to serve the shareholders, employees and customers of Mastercard for the past 11 years,” Hund-Mejean said in a Wednesday press release. “I look back at my tenure with pride in our accomplishments and also tremendous excitement for the opportunities that will come next."
Hund-Mejean called Mehra "a tremendous leader with extensive financial and international management expertise and the ideal candidate to help lead Mastercard into the future.”
Mehra has had key roles in the finance product organizations, overseeing development of commercial products and solutions before returning to finance in 2018 as chief financial operations officer.
“We have always been deliberate in the way in which we develop leaders as part of our succession program,” CEO Banga said in the release. "His deep knowledge of Mastercard and the marketplace will be key to continuing our 'Grow, Diversify and Build' strategy."
Mehra joined Mastercard in 2010 as group executive and treasurer with responsibility for treasury strategy and operations, global settlement, customer credit risk management and enterprise risk management.
Before joining Mastercard, he held treasury and finance roles of increasing responsibility at the Hess, General Motors and GMAC in New York, Singapore, Belgium and Shanghai.
Mehra holds a master's of business administration degree from the Darden Business School at the University of Virginia and received his undergraduate degree in commerce from Sydenham College at the University of Mumbai, India.
Banga had high praise for the departing Hund-Mejean.
“Martina maintained the highest standard of leadership, strategic thinking and financial stewardship in her years as CFO,” Banga said. “She helped drive the transition of Mastercard to a publicly-traded company, during which time Mastercard stakeholders participated in remarkable growth and value creation."
Hund-Mejean leaves a "legacy of integrity, mentorship and promotion of diversity," Banga added.
"It’s been my great fortune and privilege to partner with such an accomplished executive and respected leader who’s contributed so much to Mastercard’s success,” Banga said.