Payment company Mastercard’s Ari Sarker will step down from his role as the company’s president for Asia-Pacific at the end of 2025 after more than a decade in the role and will move into an advisory position, where he will focus on strategic initiatives and mentoring regional leadership to support a smooth transition.

Sarker, the company notes, has been instrumental in the company’s growth across the region, driving expansion, strengthening partnerships and fostering a collaborative culture.

Effective January 1 2026, Richard Wormald, currently division president for Australasia, will succeed Sarker as president for Asia-Pacific. Wormald, the company points out, “brings deep regional experience and a strong track record of leadership, having led the company’s business in Australasia with a focus on performance, innovation and stakeholder engagement”.

To support a smooth transition, Sarker and Wormald will work closely together over the coming months, engaging with stakeholders across markets through joint appearances and shared communications.

As well, the company has appointed Paul Monnington to succeed Wormald in January 2025 as division president of Australasia. Monnington, the company adds, brings extensive experience in retail payments and fintech innovation, having led Woolworths’ Wpay business and held senior roles at Woolworths Group and National Australia Bank.

Monnington, who will report to Wormald and will be a part of Mastercard’s Asia-Pacific leadership team, will oversee markets in Australia, New Zealand and the Pacific Islands.

“Sarker’s influence across the region has been profound,” shares Ling Hai, the company’s president of Asia-Pacific, Europe, the Middle East and Africa. “He's championed innovation and inclusion, and built deep relationships with governments, fintechs and enterprises.”