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Reeta Roy to step down as Mastercard Foundation CEO
Roy, whose father is an Indian doctor, was recruited to lead the Mastercard Foundation in 2008, two years after it was established in Canada as an independent entity separate from Mastercard.
Reeta Roy / Mastercard Foundation
Reeta Roy, president and CEO of the Mastercard Foundation, has announced her decision to step down from the organization. She will continue to lead the Foundation through 2025 until a successor is appointed.
Zein Abdalla, chair of the board of directors of the Mastercard Foundation, assured a smooth transition, stating, “Reeta has been an outstanding CEO of the Mastercard Foundation. The results speak for themselves, but it is the strength of the partner network and the talented, values-based organization she has built that are her greatest gift to our future. I look forward to working with Reeta to identify and onboard her successor and deliver another exceptional year for the Mastercard Foundation.”
Roy was recruited to lead the Mastercard Foundation in 2008, two years after it was established in Canada as an independent entity separate from Mastercard. Under her leadership, the Foundation grew into one of the world's largest and most influential philanthropic organizations. With over $50 billion in assets, the Foundation has committed more than $10 billion to programs in Africa and Indigenous communities in Canada, impacting millions of young people.
Reflecting on her tenure, Roy said, “Serving the mission of the Mastercard Foundation has been life-changing. It has been an honor to build the Foundation and put it on a trajectory to be a force for good in the world. I am immensely grateful to my colleagues and our partners for the impact we have achieved together. Most of all, I am proud of our values and for walking this journey with young people, our African partners, and Indigenous communities in Canada.”
Roy was born in Malaysia to an Indian father, Durgadas, a doctor, and her mother, Emily, a nurse from a Chinese family in southern Thailand. Her father passed away when she was 14, and she was raised by her mother, who emphasized the importance of education and self-reliance for girls.
Focus on Africa
Early in her leadership, Roy made a bold decision to focus the Foundation’s efforts on Africa, believing in the potential of the continent’s youth. She built long-term partnerships with African entrepreneurs, educators, and institutions, reinforcing the Foundation’s commitment to empowering young people.
This approach led to the creation of key initiatives, such as the Mastercard Foundation Scholars Program in 2012, which has helped over 40,000 young Africans complete higher education and transition into careers. In 2018, the Foundation launched the Young Africa Works strategy, aiming to enable 30 million young people to access dignified work by 2030. Today, 13 million young people are working, with women comprising 53 percent of the workforce supported by the program.
Supporting Indigenous Communities
In response to Canada’s Truth and Reconciliation Commission’s 2015 report, Roy led the Foundation in partnering with Indigenous communities to support youth education and economic empowerment. The EleV Program, launched as a result, has helped 38,000 Indigenous young people pursue higher education and secure meaningful livelihoods.
During the COVID-19 pandemic, Roy spearheaded a $1.5 billion partnership between the Mastercard Foundation and the Africa Centres for Disease Control and Prevention (Africa CDC) to improve vaccine distribution across Africa. The initiative trained and deployed 40,000 health workers, significantly increasing adult vaccination rates from 3 to 53 percent.
In 2024, Roy and the Foundation’s Board established Mastercard Foundation Asset Management (MFAM), an independent investment arm to sustain the Foundation’s philanthropic mission in the long term. MFAM is one of the largest greenfield investment start-ups of its kind.
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