Gerrard Schmid also will join the company's board of directors.

GREEN  Diebold Nixdorf has named Gerrard Schmid as its new president and CEO.

Schmid will start in his new position immediately. He also will join the company's board of directors.

The 49-year-old "is a seasoned corporate executive with previous public-company CEO experience and a track record of delivering value in a transforming environment," according to a company news release.

"(Schmid) is an established, world-class leader with the right experience to enhance our customer relationships, lead a cohesive world-class team and sharpen our focus on unlocking growth opportunities across the company," said Gary G. Greenfield, Diebold Nixdorf non-executive chairman of the board, via a news release. "He understands both the needs of customers, as well as the extent to which technology is evolving the consumer experience in banking and retail."

Schmid was most recently the CEO of D+H Corp., a $1.7 billion global financial technology firm based in Toronto. Prior to D+H, he managed a $3 billion retail banking business at the London-based Lloyds TSB and was also executive vice president and chief operating officer for retail banking at CIBC, one of the "Big Five" Canadian banks, according to the release.

"I am honored and excited to join the global team at Diebold Nixdorf at this important juncture," Schmid said in a statement. "The company's rich history, global leadership position and broad customer base provide fertile ground to drive opportunities in the financial and retail industries. I will look to leverage these advantages to improve financial performance, deliver value for customers and shareholders and create opportunities for our employees."

Schmid is originally from South Africa and has a bachelor of science in aeronautical engineering from the University of the Witwatersrand in Johannesburg and a master of applied science in aerospace engineering from the University of Toronto.

The company's previous president and CEO Andy Mattas stepped down in December after three years.

Diebold Nixdorf shares closed at $14.90 Wednesday, down 45 cents on the day. Stock was up 5 cents in after-hours trading.