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New CMO for MasterCard

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MasterCard Worldwide has appointed Alfredo Gangotena chief marketing officer.

Effective immediately, Gangotena (pictured) replaces Lawrence Flanagan, who will retire after serving as CMO for 10 years.

Gangotena was previously the global products and solutions lead for MasterCard in Europe. He will relocate to New York, where he will oversee advertising, sponsorships, promotions, research, insights and digital marketing initiatives, per the global credit-card firm.

Former CMO Flanagan has been with the company 14 years, and has decided to retire, MasterCard said. Flanagan is credited with developing and evolving MasterCard's "Priceless" campaign.

IPG's McCann Erickson in New York is the client's lead shop. MasterCard ad spending in the U.S. fell to $163 million in 2009 from $215 million-plus the year before, per Nielsen.

Prior to serving as MasterCard's global products lead, Gangotena held the post of general manager, Continental Europe, and general manager, Asia-Pacific, Middle East and Africa. Before that, he was the CEO of Priceline.com in Asia/Pacific, and has worked for large brands that include Procter & Gamble, the Henkel Group and Walt Disney.