MasterCard Incorporated (MA) today announced that its Board of Directors has nominated Oki Matsumoto for election as an independent director at the company's June 28, 2016 annual meeting of stockholders.
If elected, along with each of the company's existing directors, the Board will have 12 members.
“We believe Oki’s global perspective, entrepreneurial mindset and extensive experience driving innovation in online financial services will complement the current Board skills,” said Richard Haythornthwaite, chairman of the Board, MasterCard. “As people and businesses interact and transact more through digital channels, these insights will help guide the company’s future, building on our foundation of convenience and security.”
Matsumoto is chairman and chief executive officer of Monex Group, one of Japan’s leading online investment banking and asset management companies, a company he founded in 1999. Matsumoto began his career at Salomon Brothers, before joining Goldman Sachs in 1990. He was named the youngest-ever general partner at the time in 1994, eventually rising to be co-head of the firm’s Tokyo Branch’s FX & Fixed Income business. In addition to his roles on the boards of Kakaku.com and JIN CO., Matsumoto is a former member of the economic council to the Japanese prime minister and the board of the Tokyo Stock Exchange.
MasterCard also announced that, as part of a periodic board review and refreshment, current directors Marc Olivié and Edward Suning Tian will not seek re-election. All other members of the current Board will stand for re-election.
“Both Marc and Ed have been key members of the Board since our initial public offering ten years ago,” said Ajay Banga, president and CEO, MasterCard. “Their global perspectives and experiences across a wide range of consumer and business segments have been integral in helping to guide the company on our evolution and expansion. The entire Board joins me in thanking them for their guidance and wish them all the best.”