21 October 2017
Register now

Diebold elevates Wallace to chairman

21 January 2013  |  1321 views  |  0 Source: Diebold

Diebold, Incorporated (DBD) today announced that the company's board of directors has elected Henry D.G. Wallace as chairman of the board.

Wallace has been a member of the Diebold board since 2003. He replaces John N. Lauer, 73, whom the board will not be nominating for re-election to the board at the company's annual meeting of shareholders in April in accordance with the company's retirement policy. Lauer has held the non-executive chairman title since 2005 and has been a member of the company's board of directors since 1992. Wallace, 67, is a former group vice president and chief financial officer of the Ford Motor Company. The board also elected current board member Patrick W. Allender as chair of the audit committee, a role previously occupied by Wallace.

"I am eager to assume the role of chairman for Diebold," Wallace said. "The company has a lot of potential for greater value creation, and I look forward to making a significant contribution to the company's leadership and hope to build upon Diebold's rich history. I also wish to recognize John for his outstanding 20-year service on Diebold's board and his leadership in the non-executive chairman role for the past several years."

Although the company's corporate governance guidelines provide for director retirement at age 72, Lauer had agreed to continue in the non-executive chairman role at the board's request for the past two years. Making this change now allows adequate transition in advance of Lauer's retirement from the board in April.

Prior to joining the Diebold board, Wallace was group vice president for Ford's operations in the Asia Pacific region, and he served as president and CEO of Mazda Motor Corporation. During his 30-year career at Ford, he also held numerous positions in finance and general management at Ford's operations in the UK, Germany, United States, Mexico, Venezuela and Japan. In addition, he serves as chairman of the board at Lear Corporation and as a director at Ambac Financial Group, Inc. Wallace received a bachelor's degree in economics from the University of Leicester in England.

Lauer was appointed non-nted non-executive chairman of the board for Diebold, Incorporated, in December 2005. He is former chairman, president and chief executive officer of Oglebay Norton Company, Cleveland, an aggregates and industrial minerals firm. Lauer was elected to Diebold's board of directors in 1992. Prior to Oglebay, he served as president and chief operating officer of the B.F. Goodrich Company. Lauer received a bachelor's degree in chemical engineering from the University of Maryland, College Park, and a master's degree in business administration from Texas A&M University, Kingsville.

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
Register now visit www.niceactimize.com

Top topics

Most viewed Most shared
HSBC partners Bud for open banking trialHSBC partners Bud for open banking trial
10317 views comments | 22 tweets | 26 linkedin
Mastercard to roll out blockchain APIMastercard to roll out blockchain API
9660 views comments | 17 tweets | 24 linkedin
satelliteGates Foundation backs Ripple collaboratio...
9019 views comments | 13 tweets | 10 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
8099 views comments | 9 tweets | 17 linkedin
Sibos 2017: API or the highwaySibos 2017: API or the highway
7838 views comments | 10 tweets | 22 linkedin

Featured job

Competitive base + commission + benefits
Denmark, Finland, Iceland, Norway or Sweden

Find your next job