Western Union appoints Devin McGranahan as CEO, replacing Hikmet Ersek effective Dec 31, 2021

Western Union CO

McGranahan joins from Fiserv, where he was EVP & Senior Group President, Global Business Solutions.
Compensation includes $1M base salary, 170% target bonus, and LTI target no less than $8M annually.
Sign-on package: $6.5M RSUs, $6.6M stock options, and $1M cash bonus to replace forfeited compensation.
Ersek to serve as special advisor through June 30, 2022, with continued salary and benefits.
Ersek retires after 21 years at Western Union, including 11 as CEO; board thanks him.

item 5.02 item 9.01

Executive movements

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Appointed

Devin McGranahan

President and Chief Executive Officer

WU · Western Union CO

Effective: 2021-12-31
Filed: November 15, 2021, 6:59 PM ET

has appointed Devin McGranahan as the Company’s new President and Chief Executive Officer, effective on or about December 31, 2021

Departed

Hikmet Ersek

President and Chief Executive Officer

WU · Western Union CO

Effective: 2021-12-31
Successor: Devin McGranahan
Filed: November 15, 2021, 6:59 PM ET

Hikmet Ersek, the Company’s current President and Chief Executive Officer, will retire and step down from that position and as a member of the Board

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Devin McGranahan was appointed as President and Chief Executive Officer at Western Union CO.

Action: appointed
Role: President and Chief Executive Officer

Exact text from the filing

has appointed Devin McGranahan as the Company’s new President and Chief Executive Officer, effective on or about December 31, 2021

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Hikmet Ersek retired as President and Chief Executive Officer at Western Union CO.

Action: retired
Role: President and Chief Executive Officer

Exact text from the filing

Hikmet Ersek, the Company’s current President and Chief Executive Officer, will retire and step down from that position and as a member of the Board

View on SEC.gov

Western Union CO filing history →

Source: SEC EDGAR

accession 0001193125-21-329036

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