This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Diebold Appoints Wallace As Chairman Of The Board

NORTH CANTON, Ohio, Jan. 21, 2013 /PRNewswire/ -- Diebold, Incorporated (NYSE: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. 

(Logo: http://photos.prnewswire.com/prnh/20080725/DIEBOLDLOGO )

"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-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.

About DieboldDiebold, Incorporated is a global leader in providing integrated self-service delivery and security systems and services. Diebold employs approximately 17,000 associates with representation in nearly 90 countries worldwide and is headquartered in the Canton, Ohio region, USA. Diebold is publicly traded on the New York Stock Exchange under the symbol 'DBD.' For more information, visit the company's website at www.diebold.com or follow the company on Twitter: http://twitter.com/diebold_inc .

SOURCE Diebold, Incorporated

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 16,643.01 -11.76 -0.07%
S&P 500 1,988.87 +1.21 0.06%
NASDAQ 4,828.3250 +15.6170 0.32%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs