AP
O'Dell Resigns As Diebold CEO, Chairman
Monday December 12, 5:33 pm ET
Walden O'Dell Resigns As Diebold CEO, Chairman; Company Names Thomas Swidarski to Fill CEO Post
NORTH CANTON, Ohio (AP) -- Diebold Inc., a maker of automatic teller machines, said Monday that Chairman and Chief Executive Walden W. O'Dell has resigned "for personal reasons."
The company named President and Chief Operating Officer Thomas W. Swidarski to the additional role of chief executive and named him a member of the board. In addition, the board elected John N. Lauer, who has been a director since 1992, as non-executive chairman.
Diebold reiterated its outlook for the fourth quarter for earnings between 50 cents and 60 cents per share, including restructuring charges of 13 cents. Full-year earnings are still expected to range from $1.70 to $1.80 per share, including 30 cents in restructuring charges, 8 cents in manufacturing start-up costs and a one-time gain of 18 cents.
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Diebold spokesman Mike Jacobsen would not elaborate on the resignation.
When reached by telephone by The Associated Press, O'Dell said he would not comment about his quitting.
"I wish Diebold well," he said before hanging up.
Chief Operating Officer Thomas Swidarski was named O'Dell's replacement and will at least temporarily perform both jobs, the statement said.
Diebold, whose main business is making ATMs and security systems, ventured into e-voting after the Florida punch-card debacle of 2000.
But the company faced challenges in the e-voting business - from concerns from California's top election official and others about the machines' security and reliability to controversy about O'Dell's support of President Bush.
The problems slowed initial sales and forced the company last year to lower financial expectations for Diebold Election Systems, the subsidiary that makes the touchscreens.
Diebold addressed some security concerns by offering receipts for touch-screen voting but took another hit this year when Hurricane Katrina caused the postponement of $10 million in voting machine deliveries in Gulf areas.
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