Richard R. Verma rejoins Mastercard to oversee Law, Government Affairs & Policy and Franchise
Tim Murphy named Vice Chair

Richard R. Verma (Photo: Business Wire)
Murphy, who has served as Chief Administrative Officer since 2021, will build on his career with the company to oversee a range of strategically important initiatives, including the company’s relationships with global regulators.
As Murphy is elevated to this new role, Richard R. Verma returns to Mastercard as Chief Administrative Officer to oversee the company's Law, Government Affairs & Policy, Franchise, Corporate Security, Inclusion & Belonging and Transformation, Risk & Operations (TRO) functions. He will also join the Executive Leadership Team and Management Committee.
Both positions are effective May 1 and will report to Michael Miebach, Mastercard’s CEO.
"Tim has played an instrumental role at Mastercard for more than two decades. He has guided and counseled so many of our teams as we evolved many parts of the business – from advancing our legal and regulatory affairs to shaping our inclusion strategy. In each role, Tim has been instrumental in embedding our values into every aspect of our business,” said Miebach.
Murphy originally joined Mastercard in 2000 and thereafter became one of the lead lawyers for the company’s initial public offering. Throughout his tenure, he has blended business and legal insights to accelerate the company’s performance and growth, serving at different times as President of the
"I am delighted to welcome Rich back to Mastercard. He has had a unique view on the topics impacting people and economies across the globe. Our business and our customers will benefit from his extensive experience and leadership in many ways,” added Miebach.
Verma most recently served as the
About Mastercard
Mastercard powers economies and empowers people in 200+ countries and territories worldwide. Together with our customers, we’re building a sustainable economy where everyone can prosper. We support a wide range of digital payments choices, making transactions secure, simple, smart and accessible. Our technology and innovation, partnerships and networks combine to deliver a unique set of products and services that help people, businesses and governments realize their greatest potential.
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Investor Relations: Jud Staniar, investor.relations@mastercard.com, 914-249-4565
Communications: Seth Eisen, seth.eisen@mastercard.com, 914-249-3153
Source: Mastercard Investor Relations