Denver, United States
The Western Union Company, a worldwide leader in money transfer services, announced that Lord Dennis Stevenson, Chairman of HBOS plc., and Linda Fayne Levinson, an independent advisor to professionally funded, privately held ventures, will be elected to its Board of Directors. These individuals will join Jack M. Greenberg, the Non-Executive Chairman of Western Union's Board; Christina A. Gold, President and Chief Executive Officer of The Western Union Company; and five previously named individuals to form a world-class Board committed to building value for shareholders. Western Union is expected to undergo a tax-free spin-off from First Data Corp. on Sept. 29, 2006. The directors are expected to assume their roles immediately prior to Western Union's separation from First Data.
In addition to Greenberg and Gold, the Western Union Board of Directors, announced in late August, will include Dinyar Devitre, Senior Vice President and Chief Financial Officer of Altria Group, Inc.; Betsy Holden, former Co-Chief Executive Officer of Kraft Foods, Inc.; Alan Lacy, former Chief Executive Officer of Sears Holdings Corporation; Roberto Mendoza, Chairman of Integrated Finance Limited; and Mike Miles, President and Chief Operating Officer of Staples, Inc.
"The addition of Dennis Stevenson and Linda Fayne Levinson to the Western Union Board of Directors will further enhance the international character of our Board as well as its high-caliber global marketing, finance and consumer expertise," said Christina Gold, President and Chief Executive Officer of Western Union. "I am confident that we have established the right team to guide Western Union 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 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.
Biographical Information
Lord Stevenson, 61, is Chairman of HBOS plc., a worldwide banking institution in the United Kingdom. Until November 2005, he served as Chairman of Pearson plc., the media group that owns the Financial Times, Prentice Hall and Penguin. His past board memberships include roles on the Boards of Manpower Inc and British Sky Broadcasting Group plc. among others.
Linda Fayne Levinson, 64, is an independent advisor to professionally funded, privately held ventures and Non-Executive Chair of VendareNetblue, Inc. Levinson was a partner at GRP Partners, a venture capital firm, from 1997 through 2004. In that role, she invested in and served as Director of several private companies that made successful transitions into public companies, such as Overture Services, Inc., lastminute.com, plc. and Cybersource, Inc. Earlier in her career, Levinson served as a Senior Vice President at American Express Travel Related Services, Inc. In 1979 she was elected the first female partner at McKinsey & Company. Levinson presently serves on the boards of NCR Corporation, Jacobs Engineering Group, Inc. and Ingram Micro, Inc. Previously, Levinson served on the Boards of Genentech, Inc. and Adminstaff, Inc.
About Western Union
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. For more information, visit www.westernunion.com.
CONTACT: The Western Union Company Sherry Johnson 720-332-4750 Sherry.l.Johnson@westernunion.com
CONTACT: The Western Union Company Sherry Johnson 720-332-4750 Sherry.l.Johnson@westernunion.com, ,
Source: Business Wire (Business Wire India)