DALLAS, July 31, 2015 /PRNewswire/ -- MoneyGram
(NASDAQ: MGI), a leading global money transfer and payment services
company, announced today that its Board of Directors has chosen
W. Alexander Holmes to serve as
MoneyGram's next chief executive officer, beginning on January 1, 2016. He will succeed MoneyGram
chairman and CEO Pamela H. Patsley,
who on the same date will assume the role of executive chairman for
a minimum of two years. Holmes, currently the Company's executive
vice president, chief financial officer and chief operating
officer, will join the MoneyGram Board by the start of his tenure
as CEO.
"We are pleased to be moving forward with a succession plan that
provides for an orderly leadership transition and builds on the
strong, collaborative partnership that Pam
Patsley and Alex Holmes have
developed during the last six years," said J. Coley Clark, chair of the human resources and
nominating committee of the MoneyGram Board. "Alex has made many
valuable contributions to our business and his proven leadership
skills across a range of senior executive roles, as well as his
extensive knowledge of the Company's financial and business
operations, make him highly qualified to serve as our next CEO. We
are grateful to Pam for her service and accomplishments as CEO and
are really pleased that she will be assuming the responsibilities
of executive chairman through the end of 2017, ensuring a seamless
leadership transition."
"Alex has been a tremendous asset to MoneyGram since he first
joined us in 2009, and I am excited that he will be the next leader
to drive the Company's growth and profitability while increasing
our market share around the world," said Patsley. "Alex's
exceptional record of success across multiple areas of our company,
along with the central role he played in our recent transformation
efforts, gives me great confidence in his ability to lead
MoneyGram. That he succeeds to CEO from within the Company speaks
to the incredibly talented team we have developed at MoneyGram. I
am looking forward to continuing to work closely with Alex and our
colleagues in the years ahead."
In her role as executive chairman, Patsley will work closely
with Holmes to oversee MoneyGram's strategic planning efforts and
help represent the Company in its interactions with customers, the
financial community, regulators and government officials. She will
also continue to lead the Board's governance functions, take an
active role in the MoneyGram Foundation, and speak out on issues
affecting the money transfer industry.
"During Pam's tenure as CEO, MoneyGram has worked diligently to
address a range of opportunities and challenges facing the evolving
money transfer industry," said Seth W.
Lawry, managing director at Thomas H. Lee Partners and a
member of MoneyGram's Board since 2008. "Among other things, Pam
has played an instrumental role in growing MoneyGram's agent
network and customer base, allowing for the secure and efficient
transfer of billions of dollars around the world. In addition, she
has helped steer the Company through the crisis in the financial
sector, overseen the resolution of significant legacy issues, and
implemented the Company's innovative self-service approach to
technology-enabled money transfer services. Pam has also assembled
a world-class management team and served as a terrific mentor to
Alex, positioning him to become her natural successor."
About W. Alexander
Holmes
Alex Holmes has
served as executive vice president, CFO and COO of MoneyGram since
February 2014 and executive vice
president and CFO since March 2012.
He joined MoneyGram in 2009 as senior vice president for corporate
strategy and investor relations. Holmes previously spent nine years
at First Data Corporation and Western Union and has extensive
experience in global financial services with in-depth expertise in
the money transfer and payments industries. While at First Data,
Holmes held a variety of positions including chief of staff to the
CEO, head of investor relations and senior vice president of global
sourcing & strategic initiatives. He is a graduate of the
University of Colorado, where he earned
a bachelor's of science in business administration and accounting
and a master's of science in information technology.
About Pamela H.
Patsley
Pam Patsley
joined MoneyGram in January 2009 as
Executive Chairman of the Company. She assumed the additional role
of CEO in September 2009. Patsley is
an experienced executive in the financial services industry. After
almost six years at KPMG, she joined First USA, Inc. as CFO and later became president
and CEO of Paymentech, Inc. until it was acquired by First Data
Corporation. She then led First Data's global expansion, serving as
president of First Data International. Patsley currently sits on
the boards of two other public companies: Texas Instruments, Inc.
and Dr. Pepper Snapple Group, Inc. From 1996 to 2009, she served on
the board of Molson Coors Brewing Company and its predecessor.
About MoneyGram Inc.
MoneyGram is a global provider of
innovative money transfer services and is recognized worldwide as a
financial connection to friends and family. Whether online, or
through a mobile device, at a kiosk or in a local store, we connect
consumers any way that is convenient for them. We also provide bill
payment services, issue money orders and process official checks in
select markets. More information about MoneyGram International,
Inc. is available at moneygram.com.
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SOURCE MoneyGram