CURRENT AFFAIRS

Detailed explanation-1: -Michael Miebach, who is currently the company’s chief product officer, will takeover for CEO Ajay Banga to start 2021. Banga will become the company’s executive chairman, replacing the retiring Richard Haythornthwaite.

Detailed explanation-2: -Michael Miebach is chief executive officer of Mastercard and a member of its board of directors. He is leading the company into a more digital world where Mastercard powers economies and empowers people by harnessing innovation and the continued application of new technologies.

Detailed explanation-3: -Mastercard CEO bets on India to become the largest digital economy in the world. CNBC-TV18 caught up with Michael Miebach on his first visit to India after taking charge as global CEO of Mastercard. Miebach spoke on a wide range of issues including the future of payment systems and opportunities in India.

Detailed explanation-4: -MasterCard Names Ajay Banga President and Chief Executive Officer Succeeding Robert W. Selander | Global Hub.

Detailed explanation-5: -He previously served as ICC’s First Vice-Chair since June 2018. Mastercard announced in April 2010 that Banga, previously its chief operating officer (COO), would become president and chief executive officer, effective July 1, 2010, and a member of the board of directors. Banga succeeded Robert W.