Raja Rajamannar among Insider’s most innovative CMOs of 2023

Indian Institute of Management, Bangalore, alumnus is pushing the marketing discipline into new technologies

These CMOs are meeting the marketing world’s biggest challenges, the magazine said announcing its annual list.

“This year, they’ve been responsible for keeping consumers spending through the economic downturn, reaching coveted Gen Z audiences, and figuring out how new technology, such as generative AI, can transform advertising,” it said.

Based on over 70 nominations and suggestions from their peers and industry experts, the picks represent a mix of big brands and smaller disruptor companies from a cross section of industries.

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With an MBA degree from the Indian Institute of Management, Bangalore, and a Bachelor of Technology degree in Chemical Engineering from Osmania University in Hyderabad, Rajamannar has been the CMO of Mastercard for 10 years.

He helps keep Mastercard on the edge of innovation, Insider says. In April, he launched a Web3 program called Mastercard Artist Accelerator that helps consumers discover new music creators, who then monetize their work using Web3 and AI tools.

Musicians also get access to resources, such as learning how to resell their work. More than 100,000 people signed up for the program, Rajamannar said.

“There has been a rollercoaster in terms of Web3 technology — we’ve been trying to see the relevance of it within the context of our business,” he said.

In May, Rajamannar launched a loyalty program in the Asia Pacific region called Mastercard Gamer XChange that gives consumers gaming points in exchange for unspent rewards points.

Rajamannar said that the program is intended to reach consumers beyond the younger, male audiences that are typically considered gamers. “Gaming is a growing passion point,” he said.

He joined Mastercard in 2013, after serving as chief transformation officer of the health insurance firm Anthem (formerly WellPoint). Prior to that, he also served as Chief Innovation & Marketing Officer and Chief Executive of International Operations at Humana.

In his role as president of Healthcare, he has overseen the creation, development and successful scaling of Mastercard’s healthcare business across multiple regions.

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Earlier in his career, he held a number of leadership roles. Before that, he spent seven years with Unilever in sales and product management roles. He began his career with Asian Paints in India.

Rajamannar is a member of the Board of Directors of PPL Corporation, a Fortune 500 power generation and distribution company, and Bon Secours Mercy Health, one of the major hospital systems in the US.

He serves on the boards of Cintrifuse, a Cincinnati-based public/private startup catalyst organization, the ANA, and the New York City Ballet.