Mastercard has announced leadership changes effective May 1. Tim Murphy has been appointed Vice Chair, expanding his role to oversee key global regulatory relationships. Murphy has been with Mastercard since 2000 and has held various leadership positions, including Chief Product Officer, General Counsel, and Chief Administrative Officer.

Richard R. Verma is rejoining Mastercard as Chief Administrative Officer, where he will oversee Law, Government Affairs & Policy, Franchise, Corporate Security, Inclusion & Belonging, and Transformation, Risk & Operations. He will also become a member of the Executive Leadership Team and Management Committee. Verma previously served as U.S. Deputy Secretary of State for Management and Resources, as well as U.S. Ambassador to India.

CEO Michael Miebach praised both leaders, highlighting Murphy’s contributions over two decades and Verma’s global experience in law, policy, and government affairs.

Mastercard operates in over 200 countries, providing secure and innovative digital payment solutions to businesses, governments, and consumers.