The Western Union Company
(NYSE: WU) announced today that Hikmet Ersek, 50, has assumed the role of
President and Chief Executive Officer as part of the company's previously
announced succession plan. He also serves on the company's Board of Directors.
Ersek succeeds Christina
Gold, 62, following Gold's earlier announcement that she intended to retire.
"I am passionate aboutWestern Union, especially when I consider our
company's potential for the future," Ersek said. "We have a
world-class team and an unparalleled agent network and brand. We must continue
to focus on our strengths and expand our products and services to ensure we
deliver superior value to our customers and shareholders."
Prior to his promotion to
President and CEO, Ersek held the role of Western Union's
Chief Operating Officer. As COO, he was responsible for all of Western Union's business units around the world and the
company's operations and marketing functions. He also previously served as
executive vice president and managing director for the Europe, Middle East,
Africa and Asia Pacific region.
Ersek already has begun the
process of refining the company's strategy and vision for the future. These
strategies include growing the company's core money-transfer business,
developing electronic channels such as internet-based money transfer and
account-based money transfer, and expanding the company's role in the
international business-to-business payments market.
In addition, Ersek
announced organizational and operational changes for the company in May. These
changes are designed to create a simpler, more effective organizational
structure and enhance productivity and profitability.
Western
Union
