MasterCard 2006 Annual Report Download - page 8

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On the legal and regulatory front, we proactively dealt with numerous challenges. Though challenges of this nature will
undoubtedly continue to affect the payments industry, we believe that as a publicly traded company, we are in a better
position to address them. Importantly, we will continue to remind the public of the vital role we play in advancing commerce
around the world.
Our list of accomplishments would not be complete without noting our success in attracting new talent, developing leaders
and fostering diversity and inclusion within our ranks. These areas continue to be company-wide priorities. Also notable
were our efforts to support communities where we and our customers operate. One of these initiatives was the formation
of The MasterCard Foundation, whose twofold goal is to build entrepreneurship through microfi nance programs in
developing countries and to prepare young people for success in a global workforce. I thank our fi nancial institution shareholders
and former board of directors for their support in creating this independent foundation. I believe it demonstrates both a
substantial and meaningful commitment to economic development.
Creating Value across the Board
In many ways and in many places, our innovations and our connections are making us more valuable to everyone, on every
side of every transaction. For every rushed commuter in Kaohsiung, Taiwan, who boards the bus using a TaiwanMoney card
powered by MasterCard PayPass, there is a transit hub with shorter lines and a fi nancial institution with a new stream of
revenue. For every fi nancial institution in Europe that converts its debit program to Maestro, there are consumers with more
freedom to shop wherever they please, and storeowners benefi ting from a boost in sales. For every retailer in Asia or Latin
America who applies our powerful marketplace insights, there is a fi nancial institution that sees increased card usage, and
a cardholder who gains another Priceless® experience.
In short, MasterCard is at the center of it all, advancing commerce and making it more secure for everyone. That is largely
why, when the investment community looks at our business, they see what we see: a company fi ring on all cylinders, driving
commerce on a global basis and leading innovation in the payments industry.
In 2007, we will continue to advance commerce globally, helping our customers grow profi table businesses, forging stronger
ties with merchants, offering consumers more convenient ways to pay and utilizing our strengths every way we can. After all,
with 40 years of innovation and insight behind us, no company is in a better position than MasterCard to lead the way.
Robert W. Selander
President and Chief Executive Offi cer
April 2007
Letter from the President and Chief Executive Offi cer
(1) For the full-year 2004, net income excludes a special item, a $14 million after-tax litigation settlement, and is a non-U.S. GAAP financial
measure. For the full-years 2005 and 2006, total net income and earnings per share, each of which excludes special items, are non-U.S.
GAAP financial measures that are reconciled to their most directly comparable U.S. GAAP measures in the financial table on page 20.