Western Union Announces Departure of Chief Financial Officer, Raj Agrawal

Rhea-AI Summary

Western Union (NYSE: WU) announces the departure of its Chief Financial Officer, Raj Agrawal, after a 16-year tenure. He will transition to Arrow Electronics, leaving Western Union on September 2, 2022. CEO Devin McGranahan expressed gratitude for Agrawal's contributions during his time with the company. Western Union will conduct an internal and external search for a new CFO, with plans to announce an interim successor within the next two weeks.

Positive

• Raj Agrawal served 16 years, providing stability and leadership in financial roles.
• Western Union's proactive approach to finding a new CFO may ensure a smooth transition.

Negative

• Departure of a long-term CFO could create uncertainty in financial management.

DENVER--(BUSINESS WIRE)-- The Western Union Company (NYSE: WU) announces the departure of Raj Agrawal, Chief Financial Officer (CFO). After a 16-year tenure at Western Union, Agrawal is moving to Arrow Electronics to serve as its Chief Financial Officer. He will leave Western Union September 2, 2022.

“On behalf of my Executive Team, our Board of Directors, and our employees, I’d like to express my sincere gratitude to Raj for his 16 years of service to Western Union, and on a personal level, for his partnership since my arrival in late 2021,” said Devin McGranahan, President and Chief Executive Officer of Western Union. “Raj has been an integral part of our executive leadership team, and we wish him the very best as he begins his next chapter,” concluded McGranahan.

“My time at Western Union has been rewarding both personally and professionally. It has allowed me to pursue a variety of roles from Treasurer to leading finance for the EMEA/APAC region. It ultimately allowed me to progress from leading our former Business Solutions segment to, most recently, leading the global finance organization,” said Agrawal. “It has been an honor to work alongside so many exceptional people over the course of my tenure with the company, and I look forward to watching the next chapter of this iconic company.”

Western Union is launching a comprehensive internal and external search process to identify a new CFO and will name an interim successor, effective upon Agrawal’s departure, within the next two weeks.

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About Western Union

The Western Union Company (NYSE: WU) is a global leader in cross-border, cross-currency money movement and payments. Western Union’s platform provides seamless cross-border flows and its leading global financial network bridges more than 200 countries and territories and approximately 130 currencies. We connect consumers, businesses, financial institutions, and governments through one of the world’s widest reaching networks, accessing billions of bank accounts, millions of digital wallets and cards, and a substantial global network of retail locations. Western Union connects the world to bring boundless possibilities within reach. For more information, visit www.westernunion.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220815005727/en/

Media Relations:

Claire Treacy

Media@westernunion.com

Investor Relations:

Tom Hadley

WesternUnion.IR@westernunion.com

Source: The Western Union Company

FAQ

What is the reason for Raj Agrawal's departure from Western Union (WU)?

Raj Agrawal is leaving Western Union to become the Chief Financial Officer at Arrow Electronics.

When does Raj Agrawal leave his position at Western Union (WU)?

Raj Agrawal will leave his position on September 2, 2022.

Who will succeed Raj Agrawal as CFO of Western Union (WU)?

Western Union is conducting a search for a new CFO and will name an interim successor within two weeks.

How long did Raj Agrawal serve at Western Union (WU)?

Raj Agrawal served at Western Union for 16 years.