Rima Qureshi
MastercardAbout Rima Qureshi
Independent, non-employee director of Mastercard since April 2011; age 60 as of the 2025 Annual Meeting. Former EVP & Chief Strategy Officer at Verizon and long-tenured Ericsson executive, bringing global telecom/technology operating experience, M&A, and P&L oversight. Holds NACD/Carnegie Mellon CERT certification in cybersecurity oversight; Board skills emphasize technology, information security, and global perspective. Serves on Mastercard’s Audit and Risk Committees.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Verizon Communications Inc. | Executive Vice President & Chief Strategy Officer | 2017–2024 | Enterprise strategy leadership; large-scale operating and M&A remit |
| Ericsson | Multiple senior roles, incl. CEO North America | 1993–2017 | Managed multi‑billion P&Ls; R&D, sales, services; global operating scope |
| Great‑West Lifeco Inc. | Director (past) | — | Public company board experience |
| Wolters Kluwer N.V. | Director (past) | — | Public company board experience |
External Roles
| Organization | Role | Committees |
|---|---|---|
| Loblaw Companies Limited | Director | Audit; Patient Care & Quality |
| BT Group plc | Director | Audit & Risk; Nominations; Responsible Business |
| NACD Blue Ribbon Commission on Technology | Commissioner | — |
Board Governance
| Attribute | Detail |
|---|---|
| Independence | Board affirms all directors except CEO are independent; Qureshi is independent |
| Board tenure at MA | Director since April 2011 |
| Committee assignments | Audit (member); Risk (member) |
| Committee activity (2024) | Audit met 9x; Risk met 5x |
| Meeting attendance | Each director attended ≥75% of Board/committee meetings in 2024; all directors attended 2024 annual meeting |
| Executive sessions | Regular independent director executive sessions; presided by independent Board Chair |
| Overboarding controls | Limit of four public-company boards; annual review of time commitments by NCG |
Fixed Compensation (Director)
| Component | 2024 Amount |
|---|---|
| Annual cash retainer | $100,000 |
| Audit Committee retainer (member) | $20,000 |
| Risk Committee retainer (member) | $20,000 |
| Total cash fees (2024) | $140,000 |
| Equity grant (annual) | $245,310 (grant-date fair value) |
| Total 2024 director compensation | $385,310 |
Reference schedule for non-employee directors (unchanged vs 2023): $100,000 cash retainer; $245,000 equity; committee retainers (Audit $20k member/$40k chair; Risk $20k/$40k; HRCC $15k/$30k; NCG $12.5k/$25k). Equity granted at annual meeting; immediately vested with four-year transfer restriction; form elected by director (restricted stock or DSUs). U.S. directors may defer cash under a non-qualified plan.
Performance Compensation (Director)
| Element | Nature | Grant date | Units/Terms | Performance Metrics | Vesting/Transfer |
|---|---|---|---|---|---|
| Annual equity (DSUs) | Time-based director equity | June 18, 2024 | 545 DSUs; $245,310 grant-date value | None (director equity not performance-conditioned) | Immediately vested; 4-year transfer restriction |
Notes: Director equity is not tied to operating/TSR metrics; directors select DSUs or restricted stock; no performance pool applies to non-employee directors.
Other Directorships & Interlocks
| Company | Sector Link to MA | Interlock/Conflict Disclosure |
|---|---|---|
| Loblaw Companies Limited | Large retailer/merchant (ecosystem participant) | No related-party transactions disclosed involving Qureshi |
| BT Group plc | Telecom/network services | No related-party transactions disclosed involving Qureshi |
Mastercard policies require Board review/approval of any related-person transaction >$120,000; one related-person employment relationship disclosed (unrelated to Qureshi).
Expertise & Qualifications
- Global technology and telecom operating leadership; information security and payments-relevant experience via Ericsson/Verizon background. NACD/Carnegie Mellon CERT cybersecurity oversight certification.
- Board-level exposure across audit, risk, nominations, and responsible business committees at large public companies (BT Group; Loblaw).
Equity Ownership
| Holding Type | Shares |
|---|---|
| Direct/indirect ownership | 12,181 |
| Obtainable within 60 days (incl. DSUs/restricted stock/settleable units) | 8,633 |
| Total beneficial ownership | 20,814 |
Policy alignment:
- Director stock ownership guideline: 5x annual cash retainer within six years; all current non-employee directors exceed guideline (includes Qureshi).
- Hedging/pledging of Mastercard stock prohibited for directors.
Governance Assessment
- Board effectiveness: Qureshi’s dual Audit and Risk roles align with her cybersecurity/technology credentials, supporting oversight of financial reporting, cybersecurity, and enterprise risk. Committee workloads are material (Audit 9 meetings; Risk 5), and attendance thresholds were met.
- Independence and conflicts: Board affirms independence (except CEO). No Qureshi-related related-party transactions disclosed; robust related-person review procedure in place. Hedging/pledging prohibited, reducing alignment risk.
- Compensation and alignment: Director pay uses standard cash retainers plus time-based equity with transfer restrictions; no performance-linked director pay that could bias oversight. Ownership guidelines are met/exceeded, supporting alignment with shareholders.
- Shareholder confidence signals: Say‑on‑pay (executive) support at 95% in 2024 underlines broad investor support for MA’s pay governance; Board engagement and governance practices disclosed in detail.
RED FLAGS: None disclosed specific to Qureshi (no related-party transactions, no hedging/pledging, attendance ≥75%). Monitoring areas include multi-board commitments per policy (NCG annually reviews time commitments) and any ecosystem relationships at outside boards; no conflicts disclosed.