The company said Timothy Murphy, 57, a Named Executive Officer and its Chief Administrative Officer, will move to the role of Vice Chair effective May 1, 2025. It announced the change on February 26, 2025.

1. 01

   The company said Timothy Murphy, 57, a Named Executive Officer and its Chief Administrative Officer, will move to the role of Vice Chair effective May 1, 2025. It announced the change on February 26, 2025.

2. 02

   Mastercard said Richard Verma will re-join the company effective May 1, 2025 and succeed Mr. Murphy as Chief Administrative Officer.

3. 03

   The company said Verma will oversee Law, Government Affairs & Policy, Franchise and other functions, and will also join the Executive Leadership Team and Management Committee. It said both roles will report to CEO Michael Miebach.

4. 04

   The company said Murphy joined in 2000 and took on the Chief Administrative Officer role in 2021. It said Verma served as Chief Legal Officer and Head of Global Public Policy from 2020 to 2023, and most recently served as U.S. Deputy Secretary of State for Management and Resources.

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Original filing

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