Diebold Nixdorf nominates Bowen and Pearlman for board positions
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Diebold Nixdorf nominates Bowen and Pearlman for board positions

Jan 19, 2024

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Diebold Nixdorf proposed two nominees to the company's board of directors as part of a deal made with its lenders.

The Hudson, Ohio-based maker of ATMs and other banking and retail technologies (NYSE: DBD) said it's added Marjorie Bowen and Emanuel "Manny" Pearlman to the company's slate of director nominees for election during its 2023 annual meeting of shareholders.

Diebold Nixdorf said Bowen and Pearlman were among a group of candidates suggested to the company by bank lenders and noteholders after the company's near-term debt was refinanced and $400 million in new capital was provided late last year.

Bowen serves as a director for Bed Bath & Beyond, CBL Properties and Voyager Aviation Holdings. Pearlman currently serves as the chair and chief executive officer of Liberation Investment Group, an investment management and consulting firm.

"As part of our continual board refreshment process, and our ongoing efforts to broaden our expertise and add diverse viewpoints, Diebold Nixdorf is refreshing its board to align with the company's strategy and opportunities," said Gary Greenfield, non-executive chairman of the board, in a statement.

Diebold Nixdorf will release its fourth-quarter and fiscal 2022 earnings on Feb. 9. In the last quarter, the ATM maker reported that third-quarter sales fell 15% from a year earlier to $810 million and adjusted earnings per share fell from earnings of 34 cents in the third quarter of 2021 to an adjusted loss of 12 cents in 2022.

The company blamed the drop in third-quarter sales due to "the foreign currency translation impact of the declining value of the Euro in comparison to the U.S. dollar and longer lead times resulting from global supply chain and logistics issues."