Mastercard Restructures Leadership Organization

Mastercard is restructuring its leadership team to three "interdependent areas," with commercial cards grouped with "new payment flows" and the development of a new data and AI organization in another area, the company announced.

The commercial and new payment flows area will be led by newly named chief commercial payments officer Raj Seshadri and will include commercial cards, B-to-B accounts payables and receivables, non-carded bill payments, remittances and disbursements. Mastercard said payments and data flows beyond the consumer side is a "scalable opportunity" for the company.

Seshadri has been with Mastercard for eight years and most recently was president of data and services.

The new data and AI organization, led by Mastercard executive Greg Ulrich as chief AI and data officer, will focus on commercializing the technology for both internal and external applications and governing those functions across the entire company. That organization will fall under Mastercard's services area, which also includes cyber and intelligence, data and services and open banking teams.

Craig Vosburg, most recently Mastercard's chief product officer, will lead that area as chief services officer.

Jorn Lambert, a longtime executive who has been Mastercard's chief digital officer since 2020, is taking the role of chief product officer and will lead the core payments area for Mastercard. That area includes core payments, products and platforms, real-time payments capabilities and acceptance innovation, according to Mastercard.

The new organization "will reinforce our strategy and competitive advantage to drive long-term growth, diversify our revenue streams and differentiate our products and solutions," Mastercard CEO Michael Miebach said in a statement.

The new organizational structure will take effect on May 1, though the leadership changes announced with the restructuring are effective immediately, according to Mastercard.