Mastercard Executive Chairman Ajay Banga retiring Dec 31; consulting deal $3M plus expenses through 2022

Mastercard Inc

Ajay Banga retires as Executive Chairman of Mastercard on December 31, 2021.
He will join General Atlantic as Vice Chairman and continue as ICC Chairman through 2022.
Mastercard entered a consulting agreement with Banga for $3 million plus reasonable expenses through end of 2022.
Consulting role includes using client relationships to rebuild connections interrupted by the pandemic.

item 5.02 item 9.01

Executive movements

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Departed

Ajay Banga

Executive Chairman

MA · Mastercard Inc

Effective: 2021-12-31
Filed: December 1, 2021, 6:59 PM ET

Mr. Banga, who is retiring as Executive Chairman of Mastercard on December 31, 2021, has also recently agreed with Mastercard to serve as a consultant through the end of 2022 for $3 million plus reasonable expenses.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Ajay Banga departed as Executive Chairman at Mastercard Inc.

Action: retiring
Role: Executive Chairman

Exact text from the filing

Mr. Banga, who is retiring as Executive Chairman of Mastercard on December 31, 2021, has also recently agreed with Mastercard to serve as a consultant through the end of 2022 for $3 million plus reasonable expenses.

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Source: SEC EDGAR

accession 0001141391-21-000191

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