Western Union CO 8-K, filed Jul 1, 2020
Western Union CO (WU)
About this 8-K
Western Union CO filed this 8-K on July 1, 2020.
Items reported
- Item 5.02: Director or officer change, or executive pay
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of The
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
(Exact name of registrant as specified in its charter)
(
(Registrant’s telephone number, including area code)
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Securities registered pursuant to Section 12(b) of the Act:
Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Item 5.02. | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
(d)
On July 1, 2020, the Board of Directors (the “Board”) of The Western Union Company (the “Company”) increased the size of the Board from 10 to 11 and appointed Joyce A. Phillips to the Board to fill the vacancy resulting from such increase, each effective July 1, 2020. In addition, the Board appointed Ms. Phillips to the Compensation and Benefits Committee of the Board and the Corporate Governance, ESG, and Public Policy Committee of the Board, also effective July 1, 2020.
There is no arrangement or understanding between Ms. Phillips and any other persons pursuant to which Ms. Phillips was selected as a director. There are no transactions involving Ms. Phillips requiring disclosure under Item 404(a) of Regulation S-K.
Ms. Phillips will receive the standard compensation effective for 2020 received by the Company's current non-employee directors, as discussed in the Company's Proxy Statement dated April 1, 2020, prorated for the time she serves during 2020.
A copy of the press release announcing the appointment of Ms. Phillips to the Board is attached hereto as Exhibit 99.1.
Item 9.01. | Financial Statements and Exhibits. |
Exhibit Number | | Description of Exhibit | ||
| | | ||
99.1 | | Press Release issued by The Western Union Company on July 1, 2020 | ||
101 | | Inline XBRL Document Set for the Cover Page from this Current Report on Form 8-K, formatted as Inline XBRL | ||
104 | | Cover Page Interactive Data File (embedded within the Inline XBRL document) | ||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| | | |
Dated: July 1, 2020 | | THE WESTERN UNION COMPANY | |
| | By: | /s/ DARREN A. DRAGOVICH |
| | Name: | Darren A. Dragovich |
| | Title: | Vice President and Assistant Secretary |
Exhibit 99.1
Joyce A. Phillips Appointed to Western Union Board of Directors
DENVER, July 1, 2020 – The Western Union Company (NYSE: WU), a leader in cross-border, cross-currency money movement and payments, today announced that Joyce A. Phillips has been appointed to the Company’s Board of Directors, effective July 1, 2020.
Ms. Phillips will also serve on the Compensation and Benefits, and Corporate Governance, ESG and Public Policy Committees of the Board.
Ms. Phillips brings a wealth of experience to the Board in the areas of global banking, financial services, insurance, innovation and marketing in her 30+ year career. She is currently the Founder and Chief Executive Officer of EqualFuture Corp., a San Francisco-based fintech startup delivering affordable personal financial wellness platforms to individuals and businesses.
Previously, Ms. Phillips held executive roles with Australia and New Zealand Banking Group Limited (ANZ), where she served as CEO, Global Wealth Division, after holding the role of Group Managing Director of Innovation and Marketing.
Ms. Phillips also served as President and Chief Operating Officer of American Life Insurance Co. (ALICO), a subsidiary of American International Group (AIG), and Global Head of International Retail Banking at Citigroup. Earlier in her career, she held management roles at GE Capital and Western Union. Ms. Phillips’ previous public board experience includes service on the Board of Directors of Reinsurance Group of America, Incorporated (NYSE: RGA) from 2014-2017.
“Joyce has significant experience within the Financial Services and FinTech space, acquired through a number of executive roles with both global and regional responsibilities,” said Hikmet Ersek, President and CEO of Western Union. “Her demonstrated passion for working with underserved customer and business markets, together with a strong focus on innovation, closely align with Western Union’s vision. The Board and I are very much looking forward to working with Joyce and gaining her perspectives.”
# # #
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 March 31, 2020, 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 75 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.
Media Relations:
Claire Treacy
+1 (720) 332-0652
Claire.Treacy@westernunion.com
Investor Relations:
Brad Windbigler
+1 (720) 332-2510
Brad.Windbigler@westernunion.com