MasterCard Names Richard Wormald Division President

MasterCard Names Richard Wormald Division President Australasia, Succeeding Eddie Grobler

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June 8 2016 – MasterCard has announced the appointment of Richard Wormald to the role of Division President, Australasia effective September 1, 2016. This appointment comes as Eddie Grobler joins the leadership team in global Core Products for MasterCard, becoming Executive Vice President for Strategic Projects, based in London.

Mr Grobler joined MasterCard in 1999, and has been instrumental in leading the Australasian team as Division President over the past eight years.

Under Grobler’s lead, Australia became the world leader for contactless transactions, where today more than 70% of all in-store MasterCard card transactions are contactless. He introduced a low-value payments strategy that continued to support contactless growth and a world beyond cash, setting the foundation for the next wave of digital solutions such as mobile wallets and MasterPass.

Ling Hai, Co President, Asia Pacific at MasterCard said “I would like to thank Eddie for his contribution to our region’s success. He has played a critical role in strengthening the company’s value proposition and leaves an excellent foundation for Richard to carry on. I wish him all the best in his new role in London.”

Richard Wormald joins MasterCard from Wesfarmers, where he built the Coles Financial Services business, including the Coles MasterCard card portfolio, Coles Insurance and Coles mobile wallet. He also led the acquisition and redevelopment of the flybuys reward program, and development of Coles Financial Services big data analytics capabilities.

“I’m pleased to announce Richard’s appointment. His experience building innovative payment options that make consumers lives easier makes him the ideal person to continue to drive our business forward,” said Ling Hai. “I’m confident Richard will have great success in this new role.”

Prior to joining Wesfarmers, Wormald spent several years with Accenture, providing management consulting and strategy support in the retail and consumer goods industries. Richard also worked for Proctor and Gamble, Unilever and Ford Motor Company in the UK, Europe and across Asia.

In addition, Wormald recently co-founded a startup focused on Health-Tech, to enable patients to connect with doctors over video on their smartphone.

Wormald holds a Masters Degree in Mechanical Engineering (M.Eng) and is also a Chartered Accountant (ACMA, CGMA).

ENDS

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