Diebold Nixdorf Announces Two Independent Nominees to its 2023 Board of Directors Slate

Rhea-AI Summary

Diebold Nixdorf (NYSE: DBD) has nominated Marjorie L. Bowen and Emanuel R. Pearlman for election to its Board of Directors during the 2023 annual shareholder meeting. This decision aligns with the company’s strategy to enhance board diversity and expertise, following a refinancing transaction completed on December 29, 2022. Bowen brings extensive experience in investment banking and board memberships, while Pearlman has over 35 years in executive finance and advisory roles across various sectors. The complete slate of director nominees will be detailed in the company’s annual proxy statement later this year.

Positive

• Addition of experienced directors enhances board diversity and expertise.
• Marjorie Bowen's extensive background in investment banking may provide strategic insights.
• Emanuel Pearlman's 35 years of leadership experience could strengthen financial operations.

Negative

• Concerns regarding board continuity with the introduction of new members.
• Potential experience gaps due to board refreshment process.

HUDSON, Ohio, Jan. 27, 2023 /PRNewswire/ -- Diebold Nixdorf (NYSE: DBD) today announced that it will add Marjorie L. Bowen and Emanuel R. "Manny" Pearlman to the company's slate of director nominees for election during its 2023 annual meeting of shareholders. Bowen and Pearlman were among a group of candidates suggested to the company by its lenders in connection with the refinancing transaction closed on Dec. 29, 2022.

"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, Diebold Nixdorf. "Marjorie and Manny will lend additional, relevant experience and perspectives to our board as we align our global team to execute our business model and work to build value for all Diebold Nixdorf shareholders."

Marjorie Bowen is a deeply experienced public and private company director, having held seats on the boards of more than 20 companies representing several sectors. She currently serves as a director for Bed, Bath & Beyond, CBL Properties and Voyager Aviation Holdings. Bowen spent nearly 20 years working in investment banking at Houlihan Lokey, where she served as a member of the firm's senior management team, heading its industry-leading fairness opinion practice, advising boards of public companies on transactional, strategic and other shareholder matters, and providing leadership as the most senior woman at the firm.

Manny Pearlman has more than 35 years of leadership experience in investing, executive finance, operations and advisory positions with publicly traded and private companies. He currently serves as the chair and chief executive officer of Liberation Investment Group, an investment management and consulting firm. Pearlman has worked in a wide range of industries including gaming, hospitality, leisure, logistics, retail, and wholesaling. He currently serves on the board for LSC Communications and Network-1 Technologies, and serves on the advisory board of Sharp Alpha Advisors, a venture capital firm specializing in sports betting and online gaming. He previously served on the boards of Redbox, Atlas Crest Investment Corp., and Atlas Crest Investment Corp. II.

The company's full Board of Directors slate for election at the 2023 annual shareholder meeting will be announced in its annual proxy statement later this year.

About Diebold Nixdorf

Diebold Nixdorf, Incorporated (NYSE: DBD) automates, digitizes and transforms the way people bank and shop. As a partner to the majority of the world's top 100 financial institutions and top 25 global retailers, our integrated solutions connect digital and physical channels conveniently, securely and efficiently for millions of consumers each day. The company has a presence in more than 100 countries with approximately 22,000 employees worldwide. Visit www.DieboldNixdorf.com for more information.

Twitter: @DieboldNixdorf   
LinkedIn: www.linkedin.com/company/diebold   
Facebook: www.facebook.com/DieboldNixdorf
YouTube: www.youtube.com/dieboldnixdorf

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SOURCE Diebold Nixdorf, Incorporated

FAQ

What is the significance of Marjorie Bowen and Manny Pearlman's nomination for Diebold Nixdorf's board?

Their nomination aims to enhance board diversity and expertise, aligning with Diebold Nixdorf's strategic goals.

When will the new board nominees be elected?

The election will take place during the 2023 annual meeting of shareholders.

Why were Marjorie Bowen and Manny Pearlman nominated?

They were suggested by the company's lenders as part of a broader effort to refresh the board and align with company strategy.

How many board nominees will be announced by Diebold Nixdorf?

The complete slate of nominees will be detailed in the annual proxy statement later this year.

What sectors do the new nominees have experience in?

Marjorie Bowen has experience in investment banking while Manny Pearlman has a background in finance and advisory across various industries.