Mastercard is restructuring its leadership team to three
“interdependent areas,” with commercial cards grouped with “new
payment flows” and the development of a new data and AI organization in
another area, the company announced.
The commercial and new payment flows area will be led by
newly named chief commercial payments officer Raj Seshadri and will include
commercial cards, B-to-B accounts payables and receivables, non-carded bill
payments, remittances and disbursements. Mastercard said payments and data
flows beyond the consumer side is a “scalable opportunity” for the
company.
Seshadri has been with Mastercard for eight years and most
recently was president of data and services.
The new data and AI organization, led by Mastercard
executive Greg Ulrich as chief AI and data officer, will focus on
commercializing the technology for both internal and external applications and
governing those functions across the entire company. That organization will
fall under Mastercard’s services area, which also includes cyber and
intelligence, data and services and open banking teams.
Craig Vosburg, most recently Mastercard’s chief product
officer, will lead that area as chief services officer.
Jorn Lambert, a longtime executive who has been Mastercard’s
chief digital officer since 2020, is taking the role of chief product officer
and will lead the core payments area for Mastercard. That area includes core
payments, products and platforms, real-time payments capabilities and
acceptance innovation, according to Mastercard.
The new organization “will reinforce our strategy and
competitive advantage to drive long-term growth, diversify our revenue streams
and differentiate our products and solutions,” Mastercard CEO Michael
Miebach said in a statement.
The new organizational structure will take effect on May 1,
though the leadership changes announced with the restructuring are effective
immediately, according to Mastercard.
[email protected] (Michael B. Baker)
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