Timothy P. Murphy Appointed to Western Union Board of Directors
March 24 2020 - 4:05PM
Business Wire
The Western Union Company (NYSE: WU), a leader in cross-border,
cross-currency money movement and payments, today announced that
Timothy P. Murphy has been appointed to the Company’s Board of
Directors, effective March 24, 2020.
Mr. Murphy will also serve on the Compliance Committee of the
Board.
A recognized leader in the global law enforcement, cyber,
intelligence and business communities, Mr. Murphy has a wealth of
experience in both the private and public sectors. He currently
serves as President and Chief Executive Officer of Consortium
Networks, a cybersecurity intelligence, collaboration and
consulting organization. Prior to his move to Consortium, he held
the position of President, Thomson Reuters Special Services (TRSS),
a wholly owned subsidiary of Thomson Reuters, from 2015-2019. TRSS
provides management consultancy services to help customers with
intelligence collection and analysis, network analysis, insider
threat and global risk management solutions. Mr. Murphy currently
serves as Chairman of the TRSS Board.
Previously, Mr. Murphy spent 23 years in the Federal Bureau of
Investigation, rising to the position of Deputy Director, a
position he held upon his retirement from the Bureau in 2011.
During his tenure, Mr. Murphy held a number of operational
positions in a variety of field offices nationwide, investigating
matters from counterterrorism to cyber and organized crime, as well
as serving as the Bureau’s Chief Financial Officer and Chief
Operating Officer.
“Tim is a renowned expert on global cyber, counterterrorism,
intelligence, criminal and security issues,” said Hikmet Ersek,
President and CEO of Western Union. “The Board and I are looking
forward to working with Tim as we continue to enhance and sustain
an effective, global compliance program across 200 countries and
territories, which is unique and makes us very competitive in
cross-border money movement.”
The Company simultaneously announced that Board member Frances
Fragos Townsend has declined to stand for re-election at the
Company’s 2020 Annual Meeting of Stockholders. Ms. Fragos Townsend
was appointed to the Board in August 2013 and has served on the
Corporate Governance and Public Policy Committee and as Compliance
Committee Chair.
During her tenure as Compliance Committee Chair, Ms. Fragos
Townsend led the Board’s oversight of the Company’s response to
enforcement actions by the Arizona Office of the Attorney General,
the U.S. Department of Justice (DOJ) and the Federal Trade
Commission. In June 2017, Western Union announced, alongside the
Arizona Attorney General, that it had successfully completed a
monitorship along the Southwest Border of the U.S, and on March 9,
2020, a U.S. federal court entered an order marking the formal
conclusion of the Company’s Deferred Prosecution Agreement with the
Department of Justice, by which the charges against Western Union
were dismissed with prejudice.
“The Board and I owe a depth of gratitude to Frances for her
excellent support and governance over the past 6+ years,” said
Hikmet Ersek. “During this time, Frances has helped us transform
our Compliance organization into a competitive asset. Today, we can
be proud of our exemplary compliance program operating in an
ever-changing, complex regulatory environment, and I look forward
to continuing this work with Tim.”
Further, Board member Roberto G. Mendoza will retire from the
Board effective at the Annual Meeting because he has reached the
Board’s mandatory retirement age, as set forth in the Company’s
Corporate Governance Guidelines.
“The Board and I thank Roberto for his more than 13 years of
dedicated service on the Board and its various committees,” said
Hikmet Ersek. “Roberto contributed substantial financial, capital
markets, corporate governance, and operational expertise and
provided the Board with global perspective based on his
international business experience and service on a variety of
public company boards.”
About Western Union
The Western Union Company (NYSE: WU) is a global leader in
cross-border, cross-currency money movement and payments. Our
omnichannel platform connects the digital and physical worlds and
makes it possible for consumers and businesses to send and receive
money and make payments with speed, ease, and reliability. As of
December 31, 2019, our network included over 550,000 retail agent
locations offering our branded services in more than 200 countries
and territories, with the capability to send money to billions of
accounts. Additionally, westernunion.com, our fastest growing
channel in 2019, is available in over 70 countries, plus additional
territories, to move money around the world. With our global reach,
Western Union moves money for better, connecting family, friends
and businesses to enable financial inclusion and support economic
growth. For more information, visit www.westernunion.com.
WU-G
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Media Relations: Claire Treacy +1 (720) 332-0652
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Investor Relations: Brad Windbigler +1 (720) 332-2510
Brad.Windbigler@westernunion.com
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