MasterCard annouced today they have appointed Tim Murphy as its new general counsel and chief franchise officer.
Murphy’s new position follows current chief franchise officer Noah Hanft’s retirement. Murphy has been with MasterCard since 2000, where he first served in the law department and later on became senior vice president and associate general counsel. Murphy later received the position of group executive, Customer Business Planning and Analysis in 2006, and in 2007 became president of MasterCard’s U.S. Region until 2009 when he was aapointed chief product officer.
“Tim’s legal background coupled with his extensive experience leading important portions of our business makes him the ideal candidate to take our company forward “I’m pleased to announce his appointment as it reflects our thoughtful approach to succession planning. I’m confident Tim will have continued success in his new role,” ,” said Ajay Banga, president and chief executive officer, MasterCard.
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Murphy’s predecessor Noah Hanft will resign his post on March 31st. Hanft has been with MasterCard for last 27 years, and has served in his current position since 2001. Beginning May 1st 2014 he will become the president and CEO of the International Institute for Conflict Prevention and Resolution, a non-profit organization whose aim is helping global businesses resolve complex commercial disputes.
“I want to acknowledge Noah’s contributions to the growth and evolution of MasterCard. I want to personally thank him for his commitment and counsel in helping to make MasterCard the company it is today. The entire MasterCard family joins me in wishing Noah and his family all the best going forward,” Banga added. Card