MasterCard Names Ajay Banga CEO, Succeeding Selander

April 12 (Bloomberg) -- Ajay Banga, newly named chief executive officer of MasterCard Inc., says in a teleconference that the second-biggest electronic-payments network will increase focus in e-commerce and mobile applications. Banga, who joined MasterCard as president and chief operating officer from Citigroup Inc. last August, will succeed Robert Selander at the top position on July 1. Bloomberg's Sheila Dharmarajan reports. (Source: Bloomberg)