Michael Miebach
Also at Mastercard Inc
About
Michael Miebach is currently serving as the President and Chief Executive Officer of Mastercard, having joined the company in 2010. His long-standing career at Mastercard is marked by a series of key leadership roles that paved the way for his appointment as CEO in January 2021.
During his tenure, he notably contributed as President for the Middle East and Africa region from 2010 to 2015, served as Chief Product Officer from 2016 to 2020, and held the role of President in 2020. These roles highlight his progression and the significant responsibilities he has managed over the years.
Before his time at Mastercard, he gained considerable experience in the financial services sector through senior positions at Barclays Bank PLC and Citigroup, where he oversaw operations across multiple regions including the Middle East, North Africa, and parts of Europe.
Although the documents do not provide details regarding his personal background or education, his professional journey clearly underscores a strong record of leadership, innovation, and regional expertise in the global payments industry.
$MA Performance Under Michael Miebach
Past Roles
| Organization | Role | Date Range | Details |
|---|---|---|---|
| Mastercard | President | Feb 2020 - Dec 2020 | N/A |
| Mastercard | Chief Product Officer | Jan 2016 - Feb 2020 | N/A |
| Mastercard | President, Middle East and Africa | 2010 - 2015 | N/A |
| Barclays Bank PLC | Managing Director, Middle East and North Africa | 2008 - 2010 | N/A |
| Barclays Bank PLC | Managing Director, Sub-Saharan Africa | 2007 - 2008 | N/A |
| Citigroup | Executive Positions | 1994 - 2007 | Held several executive roles in Germany, Austria, U.K., and Turkey |
External Roles
| Organization | Role | Date Range | Details |
|---|---|---|---|
| Accion.org | Director | N/A | N/A |
| Metropolitan Opera | Advisory Director | N/A | N/A |
| World Resources Institute | Director | N/A | N/A |
| U.S. Treasury’s Advisory Committee on Racial Equity | Member | N/A | N/A |
| International Business Machines Corporation (IBM) | Director | N/A | Serves on the directors and corporate governance committee |
Fixed Compensation
| Component Name | Amount | Payment Schedule | Additional Details |
|---|---|---|---|
| Base Salary | $1,237,500 | Annual 2023 | Fixed annual salary. |
| Perquisites & Other Compensation | $185,171 | Annual 2023 | Includes personal use of a leased corporate aircraft ($164,977 ) and company-leased car ($20,194 ). |
| Defined Contribution Plans | $123,751 | Annual 2023 | Includes Savings Plan matching contributions ($33,001 ) and Restoration Program contributions ($90,750 ). |
| Insurance Premiums | $5,171 | Annual 2023 | Premiums for executive life insurance coverage paid by Mastercard. |
Performance Compensation
Annual Incentive
| Metric | Value | Details |
|---|---|---|
| Threshold Payout | $1,250,000 | Minimum performance level required for payout. |
| Target Payout | $2,500,000 | Represents 200% of base salary. |
| Maximum Payout | $6,250,000 | Cap at 250% of target payout. |
| Actual Payout | $4,060,000 | Earned based on performance results. |
| Corporate Score | 116% | Calculated based on adjusted net income and revenue (2/3 and 1/3 weights), adjusted with a 5% ESG boost and a -3% strategic adjustment. |
| Evaluation Metrics | Adjusted Net Income and Adjusted Net Revenue | Metrics used to determine the financial score. |
| Evaluation Period | 2023 (Fiscal Year) | Performance measured over the fiscal year 2023. |
Equity-Based Long-Term Incentives (LTI)
The LTI awards combine performance-based and time-based elements under Mastercard’s LTIP, granted on March 1, 2023.
Performance Stock Units (PSUs)
| Component | Metric/Value | Details |
|---|---|---|
| Grant Date | March 1, 2023 | Date of PSU grant. |
| Grant Date Fair Value | $11,850,000 | Fair value assigned to the PSU component. |
| Grant Date Stock Price | $353.50 per share | Stock price on grant day. |
| Vesting Schedule | Vest in full on March 1, 2026 | Based on Mastercard’s performance from 2023 to 2025. |
| Share Quantities | Threshold: 16,761 shares, Target: 33,522 shares, Maximum: 67,044 shares | Payout units vary by performance over the three-year period. |
| Performance Metrics | 50% weight each on Adjusted Net Revenue Growth and Adjusted EPS Growth; payout range per metric: 0%-150%, with a relative TSR modifier up to ±50% | Targets are based on financial and market performance, with additional adjustments via TSR. |
Restricted Stock Units (RSUs)
| Component | Metric/Value | Details |
|---|---|---|
| Grant Date | March 1, 2023 | Date of RSU grant. |
| Grant Date Fair Value | $3,950,000 | Fair value assigned to the RSU component. |
| Vesting Schedule | 33.33% vesting on March 1 of 2024, 2025, and 2026 | Time-based vesting in equal installments over three years. |
Stock Options
| Component | Metric/Value | Details |
|---|---|---|
| Grant Date | March 1, 2023 | Date of stock option grant. |
| Grant Date Fair Value | $3,950,064 | Fair value assigned to the stock option component. |
| Grant Date Stock Price | $353.50 per share | Exercise price determined by the closing price on the grant date. |
| Vesting Schedule | 33.33% vesting on March 1 of 2024, 2025, and 2026 | Time-based vesting in equal installments over three years. |
| Exercise Price | $353.50 per share | Price at which the options can be exercised. |
| Term | 10-year term, expiring March 1, 2033 | Options are exercisable within a 10-year period. |