MasterCard 2009 Annual Report Download - page 3
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Dear Fellow Shareholders:
In business, as in any pursuit, timing is everything. And there has never been a better time to refl ect on where we’ve come
as a company and consider where we’re going in this new era.
Over the past few years, we’ve worked hard to transform MasterCard and to better position ourselves to capitalize on the
vast opportunities in global payments. As a result, our worldwide organization is stronger and more engaged than ever, and
our board of directors brings together a great diversity of strengths and backgrounds. We’ve also been extremely successful
in strengthening our leadership ranks — a fact best exemplifi ed by the two gentlemen who present this year’s report, our
outgoing CEO Bob Selander and his successor, Ajay Banga.
Since 1997, Bob has prepared our company for a new world in which electronic payments, in whatever form, are rapidly
becoming the currency of choice. He led key initiatives that enhanced our competitiveness, drove our emergence as a public
company, and, perhaps most critically, helped navigate our company through the toughest economic environment the world
has seen since the Great Depression.
Bob was precisely the right leader at the right time. He brought our organization, brands, products, and services into
the 21st century. He strengthened our global payments network; launched our legendary Priceless advertising platform;
and, led the formation of MasterCard Advisors, a consultancy of immense value to customers and merchants. He made
investments — even in diffi cult times — that are shaping the future of electronic payments. We thank him for his strong
leadership and look forward to his counsel as Executive Vice Chairman for the remainder of 2010.
That said, there’s no better moment to welcome Ajay Banga because, like Bob, he is precisely the right leader, at the
right time. Ajay has the global perspective we need, having gained critical experience in diverse industries and, of particular
importance, in diverse geographies around the world. He also has a wealth of experience in consumer products, retail
banking, and electronic payments — an ideal combination of skills and expertise. He is deeply focused on payments
innovation and the value that innovations deliver to people and societies worldwide.
Ajay joined us last year as President and Chief Operating Offi cer and took over as President and CEO on July 1st of this year.
Without question, he’s the leader we need to drive our business forward as we advance commerce globally. We welcome
him to the helm of MasterCard in this unique and truly promising time.
Richard Haythornthwaite
Chairman of the Board of Directors
July 2010
Chairman’s Message
Ajay Banga
President and Chief Executive Offi cer
Richard Haythornthwaite
Chairman of the Board of Directors
Robert W. Selander
Executive Vice Chairman
From left to right:
MasterCard Worldwide.
The Heart of Commerce.
™