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Update: Mastercard Shares Fall After Appointment of Ling Hai as CFO

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(Updates with the latest stock movement in the headline and first paragraph.)

Mastercard (MA) shares were down 2.6% in Tuesday afternoon trading after the company said it has appointed Ling Hai, president of Asia Pacific, Europe, Middle East and Africa, as the company's chief financial officer, effective Aug. 3.

He succeeds Sachin Mehra, who will move into a newly created role as chief business officer, responsible for country operations across the globe, Mastercard said.

Additionally, President of the Americas Linda Kirkpatrick will become chief services officer, succeeding Craig Vosburg, the firm said, adding that Vosburg will transition to vice chair and serve as a global ambassador for the company.

Dimi Dosis, president of Eastern Europe, Middle East and Africa, will become chief commercial payments officer, succeeding Raj Seshadri, who will become a senior strategic advisor to the chief executive officer, Mastercard said.

Price: $482.51, Change: $-12.74, Percent Change: -2.57%

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