ATLANTA--(BUSINESS WIRE)--Oct. 11, 2023-- NCR Corporation (NYSE: NCR), a leading enterprise technology provider, announced that Michael D. Hayford is retiring as Chief Executive Officer upon the successful separation of NCR into NCR Atleos (“Atleos”), focused on ATMs, and NCR Voyix (“Voyix”), focused on digital commerce, anticipated to occur on October 16, 2023.
Hayford joined NCR in 2018, and launched the company’s digital transformation, establishing a customer-first culture focused on innovation.
“Mike created a clear vision for the future of NCR, focused on digital banking, payment and process solutions, and self and assisted checkout systems,” said Joe Reece, NCR Board of Directors chairman. “His vision created the software-led, as a Service company we are today and has set us up for continued success as two industry-leading companies in the future.”
“My goal was to focus on customer satisfaction and engaged employees to fuel NCR’s success,” said Hayford. “With the help of every employee around the world, we accomplished that. I leave Atleos and Voyix confident in their futures, their new leadership and the dedication of their employees to build on a strong foundation.”
“I am grateful to my friend of more than 15 years for his guidance and support,” said Tim Oliver, who will serve as NCR Atleos CEO upon the separation. “His focus on people – both customers and employees – is an example I hope to match as we launch our new company.”
“Mike has been an amazing leader, mentor and friend. I am grateful for what he has done for me both professionally and personally,” said David Wilkinson, who will serve as NCR Voyix CEO upon the separation. “His leadership has paved the way for our future success.”
About NCR Corporation
NCR Corporation (NYSE: NCR) is a leader in transforming, connecting and running technology platforms for self-directed banking, stores and restaurants. NCR is headquartered in Atlanta, Georgia, with 38,000 employees globally. NCR is a trademark of NCR Corporation in the United States and other countries.
This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 (the “Act”). Forward-looking statements use words such as “expect,” “anticipate,” “outlook,” “intend,” “plan,” “confident,” “believe,” “will,” “should,” “would,” “potential,” “positioning,” “proposed,” “planned,” “objective,” “likely,” “could,” “may,” and words of similar meaning, as well as other words or expressions referencing future events, conditions or circumstances. We intend these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Act. Statements that describe or relate to NCR Corporation’s (“NCR”) plans, goals, intentions, strategies, or financial outlook, and statements that do not relate to historical or current fact, are examples of forward-looking statements. Examples of forward-looking statements in this release include, without limitation, statements regarding the proposed separation of NCR into two separate companies, including, but not limited to, statements regarding the anticipated timing and structure of such proposed transaction, the future commercial performance of Voyix or Atleos (or their respective businesses) following such proposed transaction, and value creation and ability to innovate and drive growth generally as a result of such transaction as well as statements regarding the intended future executive management teams of both companies. Forward-looking statements are based on our current beliefs, expectations and assumptions, which may not prove to be accurate, and involve a number of known and unknown risks and uncertainties, many of which are out of NCR’s control. Forward-looking statements are not guarantees of future performance, and there are a number of important factors that could cause actual outcomes and results to differ materially from the results contemplated by such forward-looking statements, including those factors relating to:
Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those set forth in the forward-looking statements. There can be no guarantee that the planned separation will be completed in the expected form or within the expected time frame or at all. In addition, NCR’s Board of Directors may change the record date for the distribution, or postpone or terminate the distribution, in its sole discretion. Nor can there be any guarantee that Voyix or Atleos (or their respective businesses) after a separation will be able to realize any of the potential strategic benefits, synergies or opportunities as a result of these actions. Neither can there be any guarantee that stockholders will achieve any particular level of stockholder returns. Nor can there be any guarantee that the planned separation will maximize value for stockholders, or that Voyix or any of its divisions, or separate commerce and ATM business, will be commercially successful in the future, or achieve any particular credit rating or financial results.
Additional information concerning these and other factors can be found in NCR’s filings with the U.S. Securities and Exchange Commission, including NCR’s most recent annual report on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K. Any forward-looking statement speaks only as of the date on which it is made. NCR does not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
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