Miebach has “as a proven track record of building products and running businesses globally,” Banga said in a statement. “During the course of Michael’s 10 years at Mastercard, he has been a key architect of our multi-rail strategy — including leading the acquisition of Vocalink and the pending transaction with Nets — to address a broader set of payment flows.”

https://www.cnbc.com/2020/02/25/mastercard-names-product-chief-michael-miebach-as-ceo-ajay-banga-moves-to-executive-chairman.html