Western Union Appoints Ex-MasterCard CEO to Board, Names CFO

Western Union (WU) has appointed Robert W. Selander, former chief executive of MasterCard (MA), to its board of directors.

Additionally, Western Union named Raj K. Agrawal, the company's interim chief financial officer, as permanent CFO and executive vice president.

Selander will serve on the board's compliance and compensation committees. The appointment will take effect on July 17.

"We are looking forward to the significant payments expertise that Mr. Selander brings to the table," says Hikmet Ersek, president and chief executive of Western Union, in a July 16 press release.

Selander was CEO of MasterCard Inc. and MasterCard International from 1997 through 2010, at which point he retired and was succeeded by Ajay Banga. Previously, Selander was president of the Purchase, N.Y., card network's international operations, which included Europe, the Middle East, Africa and Canada. He also previously worked for two decades with Citicorp and Citibank, now called Citigroup (NYSE:C).

Agrawal previously worked as president of the company's business solutions unit from 2011 through 2013. He joined Western Union in 2006, after holding executive roles at Deluxe Corp. (DLX) and General Mills (GIS).