Business Context and Reporting Period
This Form 8-K Current Report was filed by Diebold Nixdorf, Inc. on September 12, 2018, covering events occurring on September 9 and September 10, 2018. The filing primarily addresses changes to the Company's Board of Directors.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on corporate governance changes and does not contain financial performance data.
Material Changes
- Board Resignation: Rajesh K. Soin resigned from the Board of Directors on September 9, 2018, to pursue other interests. The Company stated there were no disagreements between Mr. Soin and the Company regarding his departure.
- Board Appointment: On September 10, 2018, the Board appointed Bruce H. Besanko (age 60) to fill the vacancy. His term will expire at the 2019 Annual Meeting of Stockholders.
- Committee Assignment: Mr. Besanko will serve on the Board's Finance Committee.
Management Commentary and Background
Mr. Besanko brings significant financial leadership experience, currently serving as Chief Financial Officer of Kohl's Corporation. His prior roles include Chief Operating Officer and CFO at Supervalu (2013–2017) and CFO and Chief Administrative Officer at OfficeMax, Inc. (2009–2013). Additionally, he served 26 years in the U.S. Air Force, retiring as a Lieutenant Colonel.
Mr. Besanko's compensation will align with the Company's standard director compensation plan for non-employee directors, as detailed in the definitive proxy statement filed on March 14, 2018. No undisclosed arrangements or material transactions involving Mr. Besanko were reported.
Investor Verification Checklist
- Verify the effective date of Rajesh K. Soin's resignation and Bruce H. Besanko's appointment (September 9 and 10, 2018, respectively).
- Review the Company's definitive proxy statement filed on March 14, 2018, to confirm the specific compensation structure for non-employee directors.
- Confirm that no undisclosed disagreements or material transactions exist regarding the departing or incoming director.
- Note that this filing contains no financial results; refer to the most recent 10-Q or 10-K for financial metrics.