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