US tech provider NCR has appointed Joseph Reece as chairman of its board of directors and announced the CEO-designates who will lead the company’s separated entities. NCR plans to split into two publicly traded firms focused on digital commerce and ATMs respectively by the end of 2023.
Facts
- NCR has appointed Joseph Reece as the chairman of its board of directors.
- Tim Oliver, NCR’s current senior executive vice president and CFO, will lead one of the separated entities.
- David Wilkinson, the executive vice president and president of the NCR Commerce business, will lead the other separated entity.
- Additional leadership team appointments are expected to follow in the coming weeks and months.
- NCR announced its decision to split into two separate companies in September last year to unlock value for its shareholders.
- The names of the two companies have yet to be determined, but NCR has started the work to re-launch and name each company separately.
- NCR reported Q1 2023 revenue of $1.9 billion, representing a 1% YoY increase and a 4% increase on a constant currency basis. The company has seen strong recurring revenue growth, margin expansion, and increased cash flow generation.
