Western Union appoints Devin B. McGranahan as new CEO
The Western Union Company (NYSE:WU), a provider of cross-border, cross-currency money movement and payments services, announces the appointment of Devin B. McGranahan as new Chief Executive Officer (CEO). After a comprehensive succession planning process, the Board of Directors has appointed McGranahan to succeed Hikmet Ersek as CEO by year end 2021.
McGranahan has also been appointed to the Board of Directors. After 21 years at Western Union, including the past 11 years as CEO, Hikmet Ersek announced his retirement from the role as CEO and Director of Western Union by December 31st, 2021. Ersek will support the transition as a special advisor to the Board of Directors until mid-2022.
Devin B. McGranahan joins Western Union from Fiserv, Inc., a global provider of payments and financial services technology solutions, where he most recently served as Executive Vice President and Senior Group President, Global Business Solutions. Throughout his career, spanning more than 25 years, McGranahan has demonstrated a strong track record of engaging with and leading financial services companies on a broad range of strategic and business-building opportunities amid a rapidly evolving financial services and payments landscape.
As CEO, McGranahan will focus on accelerating Western Union’s growth strategy, expanding payments offerings and building on Western Union’s financial strength and a robust foundation of assets including a unique compliant cross-border platform and distinct global financial network.
Incoming CEO Devin B. McGranahan commented,
“Being selected to lead such a well-respected organization as Western Union, a global technology and money movement powerhouse, serving more than 150 million consumers, businesses, financial institutions, governments, and NGOs through one of the world’s most expansive and trusted global financial networks is a great honor and tremendously exciting opportunity.
The passion for innovating with customer needs at heart is what has guided Western Union through nearly two centuries. This underpins the company’s success as a trusted provider of financial services to its global customers. I look forward to joining the team at Western Union and working together to chart a future of growth, creating value for our shareholders and stakeholders.”