Mastercard promotes Mark Barnett to head its European division

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Mastercard has promoted divisional president Mark Barnett as its new European president to succeed Javier Perez, who is retiring at the end of the year.

Prior to taking over the European business for Mastercard, Barnett was the president for the U.K., Ireland, Nordics and Baltics division. In his new role Barnett will be reporting to Gilberto Caldart, president of international, and will join Mastercard’s management committee effective June 1, 2020. Mastercard’s Europe business, which is based in Brussels, Belgium, spans 53 countries and includes more than 950 million consumers.

“Mark has maintained a laser focus on growing our business and driving and maintaining leadership across multiple product lines and geographies," said Gilberto Caldart, president for international at Mastercard, in a press release. "His continued focus on championing country level transformation while unleashing our true multi-rail capabilities, driving growth and showcasing leadership make him the ideal person to continue accelerating Mastercard in Europe.”

Barnett joined Mastercard in 2003 and has held various roles including leading its consulting business, Mastercard Advisors, in Europe. According to his LinkedIn profile, Barnett moved from the consulting business to his most recent role as president of U.K., Ireland, Nordics and Baltics in 2014.

The promotion of Barnett comes fresh off the heels of Michael Miebach’s promotion to succeed long-time Mastercard executive Ajay Banga as its next CEO. Miebach, who is the current chief product officer, will become CEO and a member of the card brand’s board on Jan. 1, 2021, and will become president on March 1 as part of a transition. Banga in the meantime will transition to executive chairman at the end of the year.

“This is an important time for Mastercard, especially here in Europe and I am delighted to be taking the lead of such a dynamic and diverse region. Mastercard is the only true multi-rail payments technology company in Europe and as such we are uniquely placed to be able to deliver simple and secure ways to pay and get paid across the region,” Barnett said in a press release.

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