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Economy

Top Executive Resigns as Diebold/Nixdorf Faces a $140 Million Loss

Diebold HQ
TIM RUDELL
/
WKSU
Diebold World Headquarters, Green, OH

Diebold/Nixdorf’s CEO resigned Wednesday.  The moves comes as the company is  expecting a loss of up to $140 million this year.

former Diebold, later Diebold/Nixdorf CEO Andy Mattes
Credit Tim Rudell / WKSU
Andreas (Andy) Mattes in 2013 as he accepted the position of President and CEO of Diebold

In a prepared statement, the Diebold/Nixdorf board  credited CEO Andy Mattes with transforming the company’s strategy.  It complimented him on the merger he engineered with former competitor Windcor/Nixdorf to create the world’s largest ATM company.

But, it asked for his resignation.

Spokesman Mike Jacobson says it came down to the financial performance.  

Jacobson says the search for a new lead executive is underway.

“A question that I think a lot of people might ask is: What’s the time line for identifying a permanent CEO replacement? And from our perspective, the most important factor is the find the right leader, with appropriate mix of experience. And we’ve employed an executive search firm, Heidrick-Struggles, with a lot of experience in this space.”

Mattes joined Green-based Diebold in 2013.