23 January 2018
visit www.ebaday.com

Diebold elevates Wallace to chairman

21 January 2013  |  1334 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)
visit www.ebaday.comvisit www.fivedegrees.nlvisit www.thomsonreuters.info

Top topics

Most viewed Most shared
Banks shift priorities toward growth, digitisation and innovation - surveyBanks shift priorities toward growth, digi...
9516 views comments | 38 tweets | 48 linkedin
Standard Chartered establishes fintech innovation and investment unitStandard Chartered establishes fintech inn...
9279 views comments | 14 tweets | 14 linkedin
BofA leads on blockchain patentsBofA leads on blockchain patents
9025 views comments | 12 tweets | 12 linkedin
Sbanken opens developer portal and invites customers to build their own digital bankSbanken opens developer portal and invites...
8383 views comments | 17 tweets | 11 linkedin
Metro Bank joins digital revolution with instant online account openingMetro Bank joins digital revolution with i...
6970 views comments | 13 tweets | 25 linkedin

Featured job

Competitive base + commission + benefits
UK or Germany

Find your next job