The International Chamber of Commerce (ICC), the world Business organization, has elected MasterCard CEO Ajay Banga as its chair for the next term.
Banga, who has served as ICC's first vice-chair since June 2018, becomes ICC chair with immediate effect, succeeding Paul Polman who becomes ICC honorary chair, having served as chair for the past two years, according to an ICC press release here today.
Yassin Al Suroor, founder and the executive chairman of A'amal group was re-elected as vice chair.
The election of Banga during the annual ICC World Council virtual Meeting held on June 23 also confirmed Maria Fernanda Garza, CEO of Orestia and current Board member, as ICC first vice-chair – making her the first woman to hold this position.
In his speech, Banga said "I am delighted to step into the role of ICC Chair, taking over from my friend Paul Polman. In this challenging time, I intend to build on the work underway at ICC and to ensure that the organisation, on behalf of business globally, continues to lead in promoting greater prosperity and opportunity for all, which includes being a crucial voice in the re-building of a sustainable and inclusive global economy."