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Diebold CEO steps down

Diebold Thursday announced that Thomas W. Swidarski, president and chief executive officer, has stepped down from the company and its board of directors.


January 25, 2013
By Staff

George S. Mayes Jr., executive vice president, global operations, has been promoted by the board to the newly created position of chief operating officer, reporting directly to Henry D.G. Wallace, Diebold executive chairman of the board. The company says that Wallace will assume regular oversight of the company until a new CEO is hired; Mayes will be responsible for daily operations.

In a statement, Wallace said, “It was a very difficult decision, and we wish Tom all the best in the next step in his career.” Swidarski’s time at Diebold spanned 17 years, the last seven as CEO.

Wallace continued: “Our anticipated revenue growth for the year is evidence that our markets remain sound. However, the company’s execution of its strategies has not been what we want or expect and we have underperformed against the opportunities in the marketplace.”

Wallace said that a new CEO will ideally be “a candidate with a proven track record for successfully executing growth strategies in a global software and services environment.”

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