Mastercard, one of the world’s leading payment technology companies, has announced that Devin Corr will be the new Executive Vice President and Head of Investor Relations, effective from January 1, 2024. Corr will succeed Sachin Mehra, who will retire at the end of this year after a successful tenure of over a decade. Corr will report directly to Michael Miebach, the Chief Executive Officer of Mastercard.
Who is Devin Corr and What is His Background?
Devin Corr is a seasoned financial executive with over 20 years of experience in various roles at Mastercard and other companies. He graduated from Harvard Business School with a Master of Business Administration degree in 2006. He joined Mastercard in 2010 as the Chief Financial Officer for Data & Services, the company’s data analytics and consulting arm. In this role, he was responsible for overseeing the financial performance, strategy, and operations of the business unit, which serves over 2,000 customers across 80 countries.
Prior to joining Mastercard, Corr held various senior positions at Citigroup, a global financial services company. He was the Chief Financial Officer for the Global Consumer Bank in Asia Pacific, where he managed the financial planning, reporting, and analysis for the region. He also served as the Chief Financial Officer for the Global Cards business, where he led the financial integration of the acquisition of Diners Club International. He started his career at PricewaterhouseCoopers, a professional services firm, where he worked as an auditor and consultant for several clients in the financial services industry.
Mastercard’s Choice for Executive Vice President of Investor Relations
Corr was promoted from his current role as the Senior Vice President of the Corporate Controller’s group, where he oversees the accounting, financial reporting, and internal controls for Mastercard. He has been instrumental in driving the company’s financial transparency, compliance, and efficiency. He has also played a key role in supporting the company’s strategic initiatives, such as the acquisitions of Finicity, Nets, and Transfast.
Miebach, the CEO of Mastercard, praised Corr’s appointment and expressed his confidence in his abilities. He said, “Devin is a proven leader with a deep understanding of our business, our strategy, and our financial performance. He has been a trusted partner to me and the senior management team, and he has built strong relationships with our investors and analysts. I am delighted to welcome him to his new role and look forward to working with him to continue to deliver value to our shareholders.”
Mehra, the outgoing Head of Investor Relations, congratulated Corr and wished him success. He said, “Devin is an excellent choice to lead our investor relations function. He has a wealth of experience and knowledge, and he has demonstrated his ability to communicate effectively and persuasively. He will be a great asset to the company and the investor community. I am proud of what we have achieved together, and I am confident that he will take our investor relations to the next level.”
Duties and Responsibilities of the Head of Investor Relations
As the Head of Investor Relations, Corr will be responsible for leading the company’s investor engagement and communication strategy. He will work closely with the CEO, the Chief Financial Officer, and other senior leaders to communicate the company’s financial performance, growth prospects, and competitive advantages to the investment community. He will also provide insights and feedback to the management team on the market sentiment, investor expectations, and capital allocation decisions.
Some of the specific duties and responsibilities of the Head of Investor Relations include:
- Developing and executing the investor relations plan and calendar, including quarterly earnings releases, conference calls, investor meetings, roadshows, and conferences.
- Preparing and delivering clear, accurate, and consistent messages and materials for investors and analysts, such as presentations, fact sheets, FAQs, and press releases.
- Building and maintaining strong and constructive relationships with existing and potential investors, analysts, rating agencies, and media outlets.
- Monitoring and analyzing the market trends, industry developments, peer performance, and investor feedback, and providing timely and relevant updates and recommendations to the management team.
- Collaborating with the finance, legal, corporate communications, and other functions to ensure compliance with the regulatory requirements and best practices for investor relations.
The Future of Investor Relations at Mastercard with Devin Corr at the Helm
Corr has a clear vision and priorities for the investor relations function at Mastercard. He said, “I am honored and excited to take on this role and lead our investor relations team. My main goal is to continue to build on the strong foundation that Sachin and his team have established, and to enhance our investor relations program with innovation, excellence, and engagement. I am committed to providing our investors and analysts with transparent, timely, and relevant information and insights, and to showcasing the value proposition and differentiation of Mastercard in the dynamic and evolving payment industry.”
Corr also emphasized the importance of maintaining a close and collaborative relationship with the investor community. He said, “I believe that investor relations is a two-way dialogue, and I value the input and feedback from our investors and analysts. I look forward to engaging with them on a regular basis, and to addressing their questions and concerns. I also appreciate the opportunity to learn from their perspectives and insights, and to incorporate them into our strategic decision-making process.”
With Corr at the helm, Mastercard is poised to continue its strong investor relations performance and reputation. The company has consistently delivered solid financial results, driven by its diversified and resilient business model, its global and local presence, its innovative and customer-centric solutions, and its purpose-driven and inclusive culture. The company has also demonstrated its commitment to creating long-term value for its shareholders, through its disciplined capital allocation strategy, its robust capital return program, and its sustainable and responsible growth agenda.
Conclusion
Mastercard has named Devin Corr as the new Executive Vice President and Head of Investor Relations, effective from January 1, 2024. Corr is a seasoned financial executive with over 20 years of experience at Mastercard and other companies. He will succeed Sachin Mehra, who will retire at the end of this year. Corr will report directly to Michael Miebach, the CEO of Mastercard.
Corr will be responsible for leading the company’s investor engagement and communication strategy, and for communicating the company’s financial performance, growth prospects, and competitive advantages to the investment community. He will also provide insights and feedback to the management team on the market sentiment, investor expectations, and capital allocation decisions.
Corr has a clear vision and priorities for the investor relations function at Mastercard, and he is committed to providing transparent, timely, and relevant information and insights to the investors and analysts. He also values the input and feedback from the investor community, and he looks forward to engaging with them on a regular basis. With Corr at the helm, Mastercard is poised to continue its strong investor relations performance and reputation, and to create long-term value for its shareholders.
