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MGI > SEC Filings for MGI > Form 8-K on 15-Apr-2013All Recent SEC Filings

Show all filings for MONEYGRAM INTERNATIONAL INC | Request a Trial to NEW EDGAR Online Pro



Change in Directors or Principal Officers

Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On April 11, 2013, MoneyGram International, Inc. (the "Company") and David B. Brown, the Company's Senior Vice President and Chief Accounting Officer, entered into a separation agreement in connection with the Company's elimination of the Chief Accounting Officer position. Pursuant to the agreement, Mr. Brown will cease to serve as the Company's principal accounting officer, effective May 24, 2013.

Upon the departure of Mr. Brown, the Company's Vice President - Controller, Angela McQuien, age 41, will serve as the Company's principal accounting officer. Ms. McQuien has served as Vice President - Controller of the Company since July 2012. From December 2009 until July 2012, Ms. McQuien served as Senior Vice President and Chief Accounting Officer of Think Finance, Inc., an entity that provides underwriting, marketing and technology services for short-term consumer lending entities. She served as Director of Compliance and Controls at Dean Foods Corporation, a dairy food and beverage company, during 2009. From 1999 through 2009, Ms. McQuien served in various roles at Sabre Holdings Corporation, a company that provides software and distribution services to the travel industry, including Director of Internal Audit from 2008 through 2009 and Finance Director in London from 2005 through 2008.

As the Company's principal accounting officer, Ms. McQuien will receive an annual base salary of $250,000. Ms. McQuien will also be eligible to participate in the Company's Performance Bonus Plan ("PBP"), pursuant to which Ms. McQuien will be eligible for an annual bonus of 40% of her base salary if annual PBP performance targets are achieved. Ms. McQuien will also be eligible to receive equity awards pursuant to the Company's 2005 Omnibus Incentive Plan.

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