Street Calls of the Week
OAKLAND - Marqeta, Inc. (NASDAQ:MQ) has named Mike Milotich as its permanent Chief Executive Officer and appointed him to its Board of Directors, effective immediately, the company announced Monday. The announcement comes as the company’s stock has shown significant momentum, with InvestingPro data showing a 62% gain year-to-date, despite characteristic market volatility.
Milotich has been serving as Interim CEO since February 2025 while simultaneously holding his position as Chief Financial Officer, which he has occupied since February 2022.
"After completing a thorough search, the Board determined that Mike is the right CEO for Marqeta," said Judson C. Linville, Chair of the Marqeta Board.
Before joining Marqeta, Milotich worked as Senior Vice President of Corporate Finance and Investor Relations at Visa. His prior experience includes roles at PayPal and American Express.
The company’s board will begin searching for a new Chief Financial Officer with assistance from an executive search firm. Milotich will continue in the CFO role until a successor is identified.
Marqeta, which operates a card issuing platform enabling embedded finance solutions, processed nearly $300 billion in annual payments volume in 2024 and is certified to operate in more than 40 countries worldwide.
The announcement comes at what the company describes as a "pivotal time" for its operations. According to the press release statement, Marqeta has been focusing on strengthening operations, improving profitability, and positioning itself for growth opportunities.
In other recent news, Marqeta Inc. reported its second-quarter earnings for 2025, revealing a notable performance. The company achieved a net revenue of $150 million, surpassing analyst forecasts of $141.07 million, which signifies a 20% increase compared to the previous year. Additionally, Marqeta reached a breakeven EPS of $0.00, outperforming the expected EPS of -$0.0312. These results highlight the company’s strong financial performance in the recent quarter. Despite the earnings release, the article notes a slight increase in the company’s stock price, but this will not be further discussed. These developments reflect Marqeta’s ongoing growth and potential in the market.
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