The Western Union Company Announces Executive Changes
March 24, 2020 at 04:05 pm EDT
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The Western Union Company announced that Timothy P. Murphy has been appointed to the company’s Board of Directors, effective March 24, 2020. Mr. Murphy will also serve on the Compliance Committee of the Board. A recognized leader in the global law enforcement, cyber, intelligence and business communities, Mr. Murphy has a wealth of experience in both the private and public sectors. He currently serves as President and Chief Executive Officer of Consortium Networks. Prior to his move to Consortium, he held the position of President, Thomson Reuters Special Services (TRSS), a wholly owned subsidiary of Thomson Reuters, from 2015-2019. Previously, Mr. Murphy spent 23 years in the Federal Bureau of Investigation, rising to the position of Deputy Director, a position he held upon his retirement from the Bureau in 2011. The Company simultaneously announced that Board member Frances Fragos Townsend has declined to stand for re-election at the Company’s 2020 Annual Meeting of Stockholders. Ms. Fragos Townsend was appointed to the Board in August 2013 and has served on the Corporate Governance and Public Policy Committee and as Compliance Committee Chair. During her tenure as Compliance Committee Chair, Ms. Fragos Townsend led the Board’s oversight of the Company’s response to enforcement actions by the Arizona Office of the Attorney General, the U.S. Department of Justice (DOJ) and the Federal Trade Commission. Further, Board member Roberto G. Mendoza will retire from the Board effective at the Annual Meeting because he has reached the Board’s mandatory retirement age, as set forth in the Company’s Corporate Governance Guidelines.
The Western Union Company is a provider of cross-border, cross-currency money movement payments, and digital financial services. The Company operates through Consumer Money Transfer, Business Solutions, and Consumer Services. The Consumer Money Transfer segment facilitates money transfers that are sent from retail agent locations worldwide or through Websites and mobile devices. The Business Solutions segment facilitates payment and foreign exchange solutions, primarily cross-border, cross-currency transactions, for small and medium-sized enterprises, and other organizations and individuals. The segment's business is related to exchanges of currency at spot rates, which enables customers to make cross-currency payments, and also provide foreign currency forward and option contracts for customers to facilitate future payments. The Consumer Services segment includes its bill payment services, which facilitate payments from consumers, businesses, and other organizations.
THE WESTERN UNION COMPANY 
