Wulf von Schimmelmann Appointed to Western Union Board of Directors
July 23 2009 - 5:00PM
Business Wire
The Western Union Company (NYSE: WU), a leader in global payment
services, announced that Wulf von Schimmelmann was appointed today
to the company�s Board of Directors.
Mr. von Schimmelmann, age 62, will serve on the corporate
governance and compensation and benefits committees of the Board,
effective July 24, 2009, to serve until the next annual election of
directors. The appointment of Mr. von Schimmelmann increases the
number of directors from nine to 10.
Mr. von Schimmelmann was the Chief Executive Officer of Deutsche
Postbank AG from 1999 to June 2007. Deutsche Postbank, a Western
Union Agent, is Germany�s largest retail bank and one of the
largest commercial banks in the German market. Under his
leadership, Deutsche Postbank grew to become the largest retail
bank in Germany with almost 15 million customers.
�The addition of Wulf von Schimmelmann continues to build on the
very distinct and international character of Western Union�s Board
of Directors,� said Jack M. Greenberg, Chairman of the Board of
Western Union. �He has very strong credentials and accomplishments
in the financial services arena and we are looking forward to his
advice and counsel in the coming years as Western Union accelerates
its offerings to consumers around the world.�
Prior to joining Deutsche Postbank in 1999, Mr. von Schimmelmann
was a member of the Board of Managing Directors at BHF-Bank in
Frankfurt am Main, where he was responsible for investment banking,
payment transactions and corporate customers. Earlier, he was a
board member at Landesgirokasse-Bank in Stuttgart, responsible for
retail banking, strategic planning and controlling; and, was a
partner at McKinsey & Co., working in Zurich, Cleveland, Kuwait
and Dusseldorf.
Mr. von Schimmelmann currently serves as Chair of the
Supervisory Board of Deutsche Postbank AG; a member of the
Supervisory Board of Deutsche Telekom AG; a director of Accenture
Ltd; a member of the Supervisory Board of Maxingvest AG; and as
Chair of the Supervisory Board of BAWAG P.S.K.
About Western Union
The Western Union Company (NYSE: WU) is a leader in global
payment services. Together with its Vigo, Orlandi Valuta and Pago
Facil branded payment services, Western Union provides consumers
with fast, reliable and convenient ways to send and receive money
around the world, as well as send payments and purchase money
orders. Western Union, Vigo and Orlandi Valuta operate through a
combined network of more than 385,000 Agent locations in 200
countries and territories. Famous for its pioneering telegraph
services, the original Western Union dates back to 1851. For more
information, visit www.westernunion.com.
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