Annual Chair Letter

Successful management in a period of disruption

May 1, 2023 | By Merit E. Janow

The global community has faced periods of stress and turmoil in the past, but currently we are all experiencing an unusually large number of disruptions that are economic, geopolitical and technological.

Great companies devise powerful and purposeful strategies and execute them with excellent management teams. They distinguish themselves even further if they have the resilience and ability to pivot when faced with disruptive forces. It is my view that Mastercard, and its management team led by Michael, are demonstrating these characteristics and the results are evident.

Looking over the accomplishments of 2022, I am impressed by how this team strategically and deliberately navigated the complexities they faced. Their priorities were clear: to ensure the strong continuity of the business, deliver on the needs of customers and partners, and take care of the people that bring the strategy to life. The management team delivered on today’s commitments with solid growth in every quarter. As importantly, Mastercard continued to make strong progress on creating further long-term value, devising innovative technology, advancing financial inclusion, meeting environmental goals, and maintaining the responsible use of data.

Mastercard has an obligation to its shareholders, employees and customers, but the company also plays a critical role in the lives of so many people across the globe: connecting buyers and sellers, enabling everyday commerce, powering data-driven decisions and creating positive social impact in communities around the world.

I am also proud of the commitment of the Board of Directors. Our role as an independent Board is to provide oversight of the strategy, management and execution of these activities in a manner that ensures a continued high level of performance and strong delivery of value to all stakeholders, including you, the company’s stockholders. Our Board of Directors brings a variety of relevant experiences across many industries and geographies. We are capable and diverse leaders.

The Board’s relationship with the Mastercard team has been one that emphasizes thoughtful debate, excellence, commonality of values, candor and a strong commitment to work together to deliver on the objectives set for Mastercard’s growth and success.

Finally, I would also like to thank all of Mastercard’s employees for their hard work throughout this year and our shareholders and customers for their continued support. We know that success is a shared journey, and we look forward to a strong year ahead.  Despite many uncertainties, it is an exciting time.

Michael and I look forward to sharing more with you at our upcoming annual meeting.

Merit E. Janow
Board Chair