Diebold Nixdorf CEO Gerrard Schmid leaves

  • Push-out Score determined
  • After about four years in the position
  • Praise and thanks for Schmid
  • Octavio Marquez taking over
  • Schmid said 82 words

(exechange) — Hudson, Ohio, February 10, 2022 — Gerrard Schmid, chief executive of Diebold Nixdorf, leaves. As announced by Diebold Nixdorf Inc. in a news release and in a regulatory filing published on Thursday, February 10, 2022, Gerrard B. Schmid leaves his post as chief executive officer at the financial and retail technology company that specializes in the sale of self-service transaction systems (such as ATMs), after about four years in the role, effective March 11, 2022.

Gerrard Schmid’s duties as CEO will be taken over by Octavio Marquez, currently executive vice president of Global Banking at Diebold Nixdorf Inc.

“A visionary leader”

Diebold Nixdorf did not give an explicit reason for Gerrard Schmid’s departure from the CEO post. Diebold Nixdorf said: “After forming a search committee and retaining a leading executive search firm to identify a visionary leader to succeed Gerrard Schmid, the company considered internal and external candidates.”

Precise information regarding Gerrard Schmid’s future plans was not immediately available.

“Step down”

Diebold Nixdorf said: “Diebold Nixdorf (NYSE: DBD) today announced that the board of directors has appointed Octavio Marquez as the company’s president and chief executive officer effective March 11, 2022. Marquez will also join Diebold Nixdorf’s board. Current CEO Gerrard Schmid will remain a member of the board of directors until his current term expires at the 2022 Annual Shareholder Meeting and will serve as an advisor to the company to help ensure a seamless transition.”

Diebold Nixdorf further said: “[E]ffective March 11, 2022, Gerrard B. Schmid will step down as the Company’s President and Chief Executive Officer and Octavio Marquez, the Company’s current Executive Vice President of Global Banking, has been appointed to succeed Mr. Schmid as President and Chief Executive Officer as of that date.”

Share price decline since February 2018

The announcement follows a decline in Diebold Nixdorf Inc.’s share price of 55% since February 2018. February 2018 is the month in which Schmid’s tenure as CEO began.

In the position of CEO since 2018

Gerrard Schmid became CEO of the Company in 2018.

Schmid is the President and Chief Executive Officer of Diebold Nixdorf, Incorporated and has served in this capacity since February 2018.

He was previously Chief Executive Officer of D+H Corporation, Toronto, Canada (a global fintech company), from 2012-2017 and was Chief Operating Officer from 2009-2012.

In addition, Schmid was President and Chief Executive Officer of D+H’s Filogix business unit (a mortgage and real estate technology service provider) from 2007-2009.

Prior to that, he held senior executive roles in banking in the UK and Canada and spent several years at McKinsey & Company, New York, New York (a global management consulting firm), focused on financial services and technology.

Schmid is currently a member of the board of directors of Dimensions Health, Canada (a private registered investment company) and ISACA, Schaumburg, Illinois (an international professional association focused on IT governance, and cybersecurity certification and training).

Push-out Score determined

The Push-out Score™ determined by exechange gauges the pressure surrounding Gerrard Schmid’s move on a scale of 0 to 10.

exechange reached out to Diebold Nixdorf and offered the company the opportunity to comment on the score.

Read the full story in the exechange report 7.2022 ($).