Summary
This 8-K filing from Mastercard Inc. announces a significant leadership change within its finance department. Effective April 1, 2019, Martina Hund-Mejean will retire from her role as Chief Financial Officer (CFO). Ms. Hund-Mejean has been with the company and will receive benefits as per her existing employment agreement. To ensure a smooth transition, Mastercard has appointed Sachin Mehra, currently the Chief Financial Operations Officer, as the successor to the CFO position. Mr. Mehra's extensive experience within Mastercard, including his roles as group executive and treasurer, and prior leadership in commercial products and solutions, positions him well for this critical role. His compensation package for the new role includes a base salary, incentive awards, and a significant long-term equity award, reflecting the importance of his position.
Key Highlights
- 1Martina Hund-Mejean to retire as CFO effective April 1, 2019.
- 2Sachin Mehra appointed as the new Chief Financial Officer, succeeding Ms. Hund-Mejean.
- 3Mr. Mehra has been with Mastercard since 2010 and holds significant financial leadership experience within the company.
- 4Mr. Mehra's new role includes a base salary of $600,000.
- 5He is eligible for annual cash incentive awards targeted at 100% of his base salary.
- 6Mr. Mehra will receive a Long-Term Incentive Award valued at $2,000,000, comprising performance stock units and stock options.
- 7There are no disclosed related-party transactions or arrangements involving Mr. Mehra's appointment.