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Money transfer giant MoneyGram has replaced its CEO less than a month after confirming that hackers stole troves of customers’ personal information and transaction records in a data breach.
MoneyGram said in a statement on Monday that it has appointed Anthony Sohu as CEO of the company with immediate effect. Soohoo replaces Alex Holmes, who joined MoneyGram in 2009 and served as CFO and then COO, before being appointed CEO and Chairman of the Board in 2016.
Holmes will remain as an advisor to the company’s board of directors. The company statement said.
When TechCrunch reached out to MoneyGram spokesperson Sidney Schoolfield, he said: “This announcement has nothing to do with the recent cyber issue. The leadership transition is the result of a multi-month process led by the MoneyGram Board of Directors.”
Holmes’ removal comes in the same month that the company confirmed that it had lost an unspecified amount of customer personal information during a cyberattack in September. The company has not yet described the nature of the cyber attack, which led to the interruption of the money transfer service for a week. The UK Data Protection Authority has confirmed that it has received a data breach report from MoneyGram following the cyberattack.
MoneyGram previously said the stolen data included names, phone numbers, postal and email addresses, dates of birth and national ID numbers. The data breach also involved a “limited number” of Social Security numbers and government identification documents, including driver’s licenses, utility bills and bank account numbers, MoneyGram said.
MoneyGram also said the stolen data also included information about customer transactions, such as dates and amounts of money transfers, and information about the criminal investigation related to some customer accounts.
MoneyGram says it serves more than 50 million people in more than 200 countries and territories each year. Holmes earned $6.7 million in executive compensation during 2021, per A company files with regulators. When asked, MoneyGram did not provide a more recent figure for Holmes’ executive compensation.
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