Diebold Nixdorf selects Jeffrey Rutherford, the interim chief financial officer, as the permanent CFO.
GREEN After three months as Diebold Nixdorf's interim chief financial officer, Jeffrey Rutherford will move into the job full time.
The company also announced Friday that it has hired two senior vice presidents as it continues to realign management. Julian Sparkes has joined as senior vice president and chief digital officer, while Hermann Wimmer now is senior vice president for global retail.
Gerrard Schmid, who was named Diebold Nixdorf president and chief executive officer last February, said the new executives will help drive the company's effort to turn around its operations following the August 2016 merger that created the world's largest automatic teller machine company.
"These are strong, experienced leaders who will help execute DN Now, strengthen our team and drive our connected commerce strategy around the world," Schmid said in a new release announcing the executive appointments.
Schmid launched the DN Now program shortly after taking the helm. The goal is to further reduce costs and streamline the product lines offered by Diebold Nixdorf.
But Schmid's plan and Diebold Nixdorf's executive compensation has been questioned by Krupa Global Investments, based in the Czech Republic. Meanwhile, New York-based GAMCO Investors has recommended three candidates for seats on Diebold Nixdorf’s board of directors.
Negative investor reaction comes on the heels of a deflated stock value and a string of quarterly loses. During the summer, several former Wincor Nixdorf shareholders moved to redeem their stock, which forced Diebold Nixdorf to restructure its loans in order to cover the cost of buying the shares.
Rutherford, 58, joined Diebold Nixdorf on Oct. 1 after the resignation of Christopher Chapman, 43, who had worked 22 years for the company. Chapman left to pursue other opportunities, according to the company.
Rutherford spent 35 years in corporate finance and accounting, with more that 20 years in senior leadership roles. He came to Diebold Nixdorf from Edgewater Technology, a consulting firm based in Massachusetts. Rutherford was Edgewater’s chairman until November, when it completed a merger with Montreal-based Alithya.
Before joining Edgewater, Rutherford — a Baldwin-Wallace graduate — served as financial officer at several companies, including Ferro Corp. and Park-Ohio Holdings Corp. in the Cleveland area, as well as UAP Holding, LESCO and Office Max.
In Friday's announcement, Diebold Nixdorf noted that Rutherford "has extensive experience leading value-creating, transformational initiatives." Since becoming financial officer, the company added Mozelle Jackson, former chief financial officer with the Cleveland Cavaliers, as vice president of global finance. Rutherford said Jackson would be a valuable asset in efforts to execute DN Now.
Diebold Nixdorf said Sparkes is being brought in to simplify, streamline and further digitize the company's IT infrastructure, while Wimmer will be responsible for the company's retail strategy and operations.
Sparkes has more than 35 years experience in digital transformation and IT outsourcing, along with a decade of senior leadership positions. He joins Diebold Nixdorf after working as a leader in big-data analytics for PRGX Global. He previously worked for IBM and Accenture to help multinational companies modernize business applications for the cloud, deploy new mobile, Internet of Things and big data applications, consolidate data centers and automate supply chain functions.
Wimmer's duties will include leading business development, customer relationship management and global sales. He replaces Mark Brewer, who joined Diebold Nixdorf a year ago but now, according to the company, has departed to pursue other opportunities.
Before joining Diebold Nixdorf, Wimmer worked as chief revenue officer with ForgeRock, a digital identity and access management company. He spent more than 20 years in leadership roles with IT and data analytics companies. At NCR and Teradata, Wimmer led efforts to define growth strategies, operational, revenue and profit goals in data analytics and big data businesses.
The announcement seemed to have little impact on Diebold Nixdorf's stock, which closed at $2.63, down 7 cents per share from Thursday, in active trading.
Diebold Nixdorf became the leader in ATM sales and service following the merger. The company also sells and maintains point-of-sale systems — a business that had been part of Wincor Nixdorf — used by large retailers based in Europe. Diebold Nixdorf focuses on "enabling connected commerce" for the financial and retail industries.
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