Summary
Mastercard Inc. filed an 8-K on March 24, 2017, to announce a significant change in its accounting leadership. Effective May 5, 2017, Andrea Forster will transition from her role as Corporate Controller and principal accounting officer to a new position focused on expanding the company's shared service center capabilities. This move highlights Mastercard's strategic focus on operational efficiency and shared services. Concurrently, Sandra Arkell has been appointed as the new Corporate Controller and principal accounting officer, effective May 5, 2017, and will join the company on April 3, 2017. Ms. Arkell brings valuable experience from her previous roles at Dover Corporation. Her compensation package includes a competitive base salary, eligibility for standard employee benefit plans, a $300,000 sign-on bonus, and an expected $400,000 in restricted stock units for 2017, reflecting her important new role within the company.
Key Highlights
- 1Andrea Forster is stepping down as Corporate Controller and principal accounting officer effective May 5, 2017.
- 2Ms. Forster will transition to a new role to expand Mastercard's shared service center capabilities.
- 3Sandra Arkell will succeed Ms. Forster as Corporate Controller and principal accounting officer, starting April 3, 2017.
- 4Ms. Arkell joins Mastercard from Dover Corporation, where she held the title of Vice President, Controller.
- 5Ms. Arkell's compensation includes a $300,000 sign-on bonus.
- 6Ms. Arkell is expected to receive $400,000 in restricted stock units in 2017.
- 7The company is emphasizing strategic growth in shared services through Ms. Forster's new role.