Diebold Appoints Wallace as Chairman of the Board
Former chairman Lauer retiring after more than 20 years on the company's board
NORTH CANTON, Ohio, Jan. 21, 2013
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 PatrickW.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 pastseveral 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.
Diebold, 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
SOURCE Diebold, Incorporated
Contact: Media - Mike Jacobsen, APR, +1-330-490-3796,
firstname.lastname@example.org, or Investors - Nick Codispoti, +1-330-490-3513,
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