MasterCard Inc., the second-largest U.S. payments network, named Tim Murphy general counsel, replacing Noah Hanft, who is retiring March 31.
Murphy, 46, will join the executive committee and also takes the role of chief franchise officer on April 1, the Purchase, New York-based company said today in a statement. He’s been at MasterCard since 2000 and was most recently chief product officer. Hanft, 61, retires after 27 years at the company, according to the statement.
MasterCard also announced that Craig Vosburg will become chief product officer and Mike Cyr will oversee U.S. market development.