MoneyGram has appointed Anthony Soohoo as its new chief executive officer.

Soohoo most recently served as executive vice president of Walmart's Home Division, where he oversaw the company’s digital transformation across the business segment's sales channels.

Prior to that, Soohoo held various executive roles at CBS, Yahoo and Apple, and founded and sold multiple technology businesses, including AI-powered shopping service Dot & Bo, start-up Trinity Ventures, and online platform Dotspotter, acquired by CBS Corporation in 2017.

Starting this month, Soohoo will be responsible for executing MoneyGram’s focused digital innovation strategy, while strengthening and expanding its global partner network.

He replaces former chief executive Alex Holmes who left the role after eight years.

Sohoo brings extensive expertise leading digital transformations that enhance growth strategies with a particular focus on AI.

Commenting on the new role, Sohoo emphasised MoneyGram’s role in providing support and strengthening connections for a global client base.

"By keeping the customer at the centre of everything we do, I am confident that we can enhance our market position and shape a brighter future for MoneyGram, our customers, and our partners,” he continued.

To ensure a smooth transition, Holmes, who joined the firm in 2009 as senior vice president and head of corporate strategy and investor relations, will remain an advisor to the MoneyGram Board of Directors.

Commenting on leaving the position, Holmes said: "It has been my privilege to lead MoneyGram over the past eight years, and I am proud of our remarkable transformation as we digitised the business and reinvigorated the brand to better serve our customers around the world. I am confident in the future of MoneyGram and look forward to seeing all that this team will accomplish."

Last month, MoneyGram suffered a significant data breach, with hackers accessing and stealing customers’ private information including transaction records.

The company suspended its services for five days following the incident.

---