MoneyGram International, Inc. has appointed Anthony Soohoo to the role of Chief Executive Officer, effective immediately.

Mr. Soohoo succeeds Alex Holmes, who has served as MoneyGram Chairman and CEO since January 2016. Mr. Soohoo will be responsible for executing the Company’s focused digital innovation strategy, while strengthening and expanding MoneyGram’s leading global partner network.

To ensure a smooth transition, Mr. Holmes will remain an advisor to the MoneyGram Board of Directors.

Mr. Soohoo joins MoneyGram with a successful track record at global, Fortune 50 companies driving significant growth and overseeing digital transformations that enhance all aspects of enterprise growth strategies. He most recently served as Executive Vice President of Walmart’s Home Division, where he spearheaded a highly successful digital transformation that enhanced all of the business segment’s sales channels and solidified Walmart Home’s position as the nation’s largest retailer of home goods.

Previously, Mr. Soohoo held various executive roles at CBS, Yahoo and Apple, and successfully founded and sold multiple technology businesses. He has over 30 years of combined experience at the intersection of technology, business and artificial intelligence.

He received his bachelor’s degree from the University of California, Davis, and an MBA from Harvard Business School.

“Through a unique and diversified global payments network encompassing digitally enabled solutions and retail locations, MoneyGram plays a critical role in providing essential support and strengthening connections for so many customers around the world, and I am honored to lead the Company through its next chapter of growth while championing its longstanding mission,” said Mr. Soohoo. “This is a great company with an incredible global team, and I look forward to connecting with our leaders across the organization, as well as our partners around the world, to identify MoneyGram’s greatest opportunities. By keeping the customer at the center of everything we do, I am confident that we can enhance our market position and shape a brighter future for MoneyGram, our customers, and our partners.”