Summary
Mastercard Inc. announced a significant leadership transition within its International division, effective June 1, 2018. Ann Cairns, currently President of International, will move to the newly created role of Vice Chairman. Gilberto Caldart, who leads the Latin America and Caribbean division, will succeed Ms. Cairns as President of International. This change reflects a strategic realignment of senior leadership, aimed at leveraging experience in new capacities and driving future growth.
Key Highlights
- 1Ann Cairns transitions from President, International to Vice Chairman effective June 1, 2018.
- 2Gilberto Caldart appointed as the new President, International, succeeding Ann Cairns.
- 3Ms. Cairns' employment agreement will be amended to reflect changes in compensation and benefits.
- 4Ms. Cairns' 2018 base salary will be reduced from £406,250 to £300,000.
- 5Ms. Cairns will no longer be eligible for future cash bonus payments under the Senior Executive Annual Incentive Compensation Plan.
- 6Ms. Cairns will receive a fixed payment upon departure, including 18 months of base salary continuation and 1.5 times her 2017 annual incentive bonus.
- 7Ms. Cairns remains eligible for awards under the Company’s Long Term Incentive Plan.