Mastercard announced news on Thursday (April 5) of the appointment of Ann Cairns as vice chairman, effective June 1, with Gilberto Caldart succeeding her as president, International. The two executives, the payment company said in a press release, will report to Mastercard Chief Executive and President Ajay Banga.
Cairns, who had been president of International since 2011, will focus on an array of strategically important initiatives as vice chairman, including inclusion and the empowerment and promotion of women within the company and in the communities it serves. The executive will also continue to act as an ambassador for senior partners and foundations around the world.
“Ann has significantly grown our international business over the past seven years,” said Banga in the press release. “Her deep understanding and appreciation of local cultures and expectations has been a tremendous asset. Not only has she has built sustainable, strong growth, Ann has served as a catalyst beyond payments, championing inclusion, the empowerment of women and talent development at all levels of the company. We look forward to her continued contributions in this new role.”
Prior to joining Mastercard, Cairns was the head of Alvarez & Marsal’s financial industry services group in London, where she was in charge of the European team that took Lehman Brothers Holdings International through the Chapter 11 process. Prior to that, she was CEO of Transaction Banking at ABN-AMRO and served in senior roles at Citigroup for 15 years. All told, Cairns has more than 25 years of experience working in leadership positions across Europe and the U.S.
Meanwhile, as president of International, Caldart will be responsible for the management of all customer-related activities outside North America. Since 2013, Caldart has led Mastercard’s Latin America and Caribbean region.
“Gilberto has a unique, global perspective rooted in and informed by his experiences across both developed and emerging markets,” said the CEO in the same press release. “He’s known by our customers and our partners across many geographies. His commitment to our teams and contribution to our strategy makes Gilberto an ideal leader to build on today’s foundation and continue the momentum in our international markets.”
Mastercard noted that on June 1, Carlo Enrico will take on the role of president of the Latin America and Caribbean region, replacing Caldart, and will be based in Miami.