Raj K. Agrawal to serve as Interim CFO, Scott T. Scheirman to
transition by 2014
ENGLEWOOD, Colo.--(BUSINESS WIRE)--
The Western Union Company (NYSE: WU) announced today that Scott T.
Scheirman, Executive Vice President and Chief Financial Officer, will be
leaving the company on February 28, 2014. Mr. Scheirman will serve as
the Chief Financial Officer through December 31, 2013, and then he will
serve as a senior advisor to the Company during the transition, while a
search is conducted with internal and external candidates. Raj K.
Agrawal, currently Executive Vice President, and President of Western
Union Business Solutions, will serve as Interim Chief Financial Officer,
effective January 1, 2014.
Mr. Agrawal, 48, joined the Company in 2006 and has served as an
Executive Vice President of the Company since November 2011, and
President, Western Union Business Solutions since August 2011. Mr.
Agrawal served as General Manager, Western Union Business Solutions,
since November 2010, and as Senior Vice President of Finance, from
August 2010 to November 2010. Previously, Mr. Agrawal served as Senior
Vice President of Finance for the Company's Europe, Middle East, and
Africa and Asia Pacific regions from July 2008 to August 2010, and as
Senior Vice President and Treasurer of Western Union, from June 2006 to
May 2008.
“Scott has been an excellent CFO and trusted business partner. I am
grateful for his strategic leadership in driving Western Union’s global
growth and building a strong financial foundation for our future. Scott
has built a high-performing finance team, and his integrity and high
ethical standards have helped set the bar for our organization. I know
that I speak on behalf of every employee at Western Union in wishing him
the best of success in his future endeavors,” said President and Chief
Executive Officer, Hikmet Ersek.
Mr. Scheirman said, “I have had an outstanding experience at Western
Union and I am proud to have contributed to a company that provides such
meaningful services to so many people around the globe. The timing was
right for a change and I am looking forward to taking on new challenges.
I wish my colleagues and the company the very best under Hikmet Ersek’s
leadership.”
About Western Union
The Western Union Company (NYSE: WU) is a leader in global payment
services. Together with its Vigo, Orlandi Valuta, Pago Facil and Western
Union Business Solutions branded payment services, Western Union
provides consumers and businesses with fast, reliable and convenient
ways to send and receive money around the world, to send payments and to
purchase money orders. As of September 30, 2013, the Western Union, Vigo
and Orlandi Valuta branded services were offered through a combined
network of approximately 515,000 agent locations in 200 countries and
territories and approximately 115,000 ATMs. In 2012, The Western Union
Company completed 231 million consumer-to-consumer transactions
worldwide, moving $79 billion of principal between consumers, and 432
million business payments. For more information, visit www.westernunion.com.
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Source: Western Union