Western Union Announces Board of Directors; Newly Created Board Offers Extensive Global Marketing, Finance and Consumer Experience.DENVER -- Western Union, a worldwide leader in money transfer services, today announced the appointment of five new directors. These individuals will join Jack M. Greenberg, the former Chairman and Chief Executive Officer of McDonalds Corporation, who will be Non-Executive Chairman of Western Union, and Christina A. Gold, who will be Chief Executive Officer of the Western Union Company, to form a world-class Board committed to the highest standards of corporate governance Corporate Governance The relationship between all the stakeholders in a company. This includes the shareholders, directors, and management of a company, as defined by the corporate charter, bylaws, formal policy, and rule of law. and building value for shareholders. Western Union expects to be separated from First Data Corporation in the late third quarter or early fourth quarter of 2006. The directors will assume their roles following Western Union's separation from First Data. The new directors include: --Dinyar Devitre, Senior Vice President and Chief Financial Officer of Altria Group “Philip Morris” redirects here. For the racecar driver, see Philip Morris (autoracer). Altria Group, Inc. (NYSE: MO) (previously named Philip Morris Companies Inc. , Inc.; --Betsy Holden, Former Co-Chief Executive Officer of Kraft Foods Kraft Foods Inc. (NYSE: KFT) is the largest food and beverage company headquartered in North America and the second largest in the world after Nestlé SA. The Philip Morris Company (now known as Altria Group), a company that produces tobacco products, acquired Kraft for , Inc.; --Alan Lacy, Former Chief Executive Officer of Sears Holdings Corporation Sears Holdings Corporation (NASDAQ: SHLD) is the fourth largest retailer in the United States, behind Wal-Mart, The Home Depot, and Kroger.[1] It was formed in 2005 with the purchase of Sears, Roebuck and Company of Hoffman Estates, Illinois by Kmart Holdings ; --Roberto Mendoza, Chairman of Integrated Finance Limited; and --Mike Miles, President and Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of Staples, Inc. "The combined global marketing, finance and consumer expertise that these individuals offer will play an important role in guiding our company as we emerge as an independent organization," said Christina Gold, President and Chief Executive Officer of Western Union. "We look forward to working closely with this talented team as we continue expanding the company's offerings to consumers around the world." First Data announced its decision earlier this year to separate the fast-growing Western Union consumer payments business into an independent, publicly traded company publicly traded company A company whose shares of common stock are held by the public and are available for purchase by investors. The shares of publicly traded firms are bought and sold on the organized exchanges or in the over-the-counter market. through a tax-free spin-off of 100 percent of Western Union to First Data shareholders. The independent Western Union company, which will include the Western Union, Orlandi Valuta and Vigo brands, will be the largest money transfer company, providing consumers with fast, reliable and convenient ways to send money around the world, pay bills and purchase money orders. Western Union handles more than 275 million money transfers each year through more than 270,000 agent locations in more than 200 countries and territories. Biographical Information Dinyar Devitre, 59, is Senior Vice President and Chief Financial Officer of Altria Group, Inc., a position he assumed in March 2002. Between 1998 and 2001 Devitre served as Executive Vice President of Citibank in Europe. Prior to joining Citibank, Devitre had an extensive international career with Altria which included the positions of President Philip Morris, Asia, and Chairman and Chief Executive Officer Philip Morris Japan. Devitre also served as Senior Vice President, Corporate Planning, Philip Morris Companies, Inc. between 1995 and 1998. He is currently a Director of Kraft Foods, Inc. Christina Gold, 58, is President and Chief Executive Officer of Western Union. Prior to joining Western Union in May 2002, Gold was President and Chief Executive Officer of telecommunications and e-commerce services provider Excel Communications Excel Communications was founded in 1988 by Dallas entrepreneur Kenny Troutt as a long distance reseller in the US telecom sector at the birth of telecom deregulation. . She also had a long and distinguished career with Avon where she served as President, Avon North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. and was credited with a significant turnaround of the cosmetic brand's U.S. business. Jack Greenberg Jack Greenberg may refer to:
Betsy Holden Betsy Holden is a corporate director of Tribune Company and former CEO of Kraft Foods. She received her A.B. from Duke University, and an M.Ed and an MBA from Northwestern University. She was born in 1956 in Pittsburgh. , 50, is a Director of the Tribune Company The Tribune Company (NYSE: TRB) is a large American multimedia corporation based in Chicago, Illinois. It is the nation's second-largest newspaper publisher, responsible for the Chicago Tribune, Los Angeles Times, Newsday, Hartford Courant . Holden served as Co-Chief Executive Officer of Kraft Foods, Inc. from 2001 through 2003. Her distinguished career at Kraft also included positions as President and Chief Executive Officer at Kraft Foods North America and most recently as President, Global Marketing and Category Development. She began her career at General Foods in 1982. Alan Lacy, 52, joins the Board of Directors from Sears Holdings Corporation, where he most recently served as Vice Chairman. Lacy was previously Chief Executive Officer of Sears Holdings and Chairman and Chief Executive Officer of Sears Roebuck prior to its merger with Kmart. During his career at Sears, Lacy also served as President of Services, President of Sears Credit, and Executive Vice President and Chief Financial Officer. Roberto Mendoza, 60, has served as Chairman of the Board and Managing Director of Integrated Finance Limited, a company he co-founded, since 2002. Prior to launching Integrated Finance Limited, Mendoza held the position of Vice Chairman and Director at J.P. Morgan & Co. During his long career at J.P. Morgan, Mendoza gained extensive experience in international corporate finance and mergers and acquisitions. Mendoza also served as Managing Director of Goldman Sachs The Goldman Sachs Group, Inc., or simply Goldman Sachs (NYSE: GS) is one of the world's largest global investment banks. Goldman Sachs was founded in 1869, and is headquartered in the Lower Manhattan area of New York City at 85 Broad Street. and is currently a Director of Prudential plc This article is about the British company. For the American company, see Prudential Financial. For places named after the company, see Prudential. Prudential plc (LSE: PRU, NYSE: PUK) is a United Kingdom-based financial services company. . Mike Miles, 44, served as Chief Operating Officer at Staples Inc. for three years before assuming the role of President and Chief Operating Officer in January 2006. Prior to joining Staples, Miles served as Chief Operating Officer, Pizza Hut for Yum! Brands, Inc. Miles' tenure at Pizza Hut also included several years in the role of Senior Vice President of Concept Development and Franchise. Miles began his career at Bain and Company and PepsiCo. About First Data and Western Union First Data Corp. (NYSE NYSE See: New York Stock Exchange :FDC FDC - Floppy Disk Controller ) is a leading provider of electronic commerce and payment solutions for businesses and consumers worldwide. Serving 4.6 million merchant locations, 1,700 card issuers and millions of consumers, First Data powers the global economy by making it easy, fast and secure for people and businesses around the world to buy goods and services In economics, economic output is divided into physical goods and intangible services. Consumption of goods and services is assumed to produce utility (unless the "good" is a "bad"). It is often used when referring to a Goods and Services Tax. using virtually any form of payment. The company's portfolio of services and solutions includes credit, debit, private-label, gift and other prepaid card issuing and merchant transaction processing services; money transfer services; money orders; fraud protection and authentication solutions; check guarantee and verification services through TeleCheck; as well as Internet commerce and mobile solutions. Western Union, together with its affiliates Orlandi Valuta and Vigo, are leaders in global money transfer, providing people with fast, reliable and convenient ways to send money around the world, pay bills and purchase money orders through a network of over 270,000 agent locations in more than 200 countries and territories. The company's STAR Network offers PIN-secured debit acceptance at 1.9 million ATM and retail locations. For more information, visit www.firstdata.com. FDC-1 |
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