NCR names president, CEO
By John Nolan
Dayton Daily News
daytondailynews.com
DAYTON | William Nuti, an executive who since 2002 has helped lead a company that provides electronic processing systems for product identification equipment and credit card transactions, has been hired to start on Aug. 8 as president and chief executive officer of NCR Corp., NCR announced on Monday.
He was elected to NCR's board of directors. Terms of his compensation are to be disclosed in a filing with the Securities and Exchange Commission this week, NCR spokesman John Hourigan said. Nuti is to meet with NCR leaders and employees this week.
James M. Ringler, 60, who has been serving as NCR's board chairman and interim CEO since Mark Hurd left for Hewlett-Packard Co., in March, is to continue as chairman of the Dayton-based company.
Nuti, 41, joined Symbol Technologies Inc. in August 2002 as president and chief operating officer, then became its chief executive in December 2003. Under his leadership, Symbol Technologies in 2003 became profitable for the first time in five years and managed to increase its revenues by 24 percent from 2002 to 2004. The company, based in Holtsville, N.Y., supplies mobile information systems using bar code scanners and related technology.
In June 2004, Symbol Technologies agreed to pay a $37 million penalty to settle charges by the Securities and Exchange Commission that Symbol engaged in accounting fraud, which inflated its reported revenue by $230 million and its pre-tax earnings by $530 million. The SEC alleged that the fraud occurred from 1998 until early 2003. The alleged scam involved a former Symbol president and did not involve Nuti, according to the SEC.
Nuti previously spent 10 years with Cisco Systems, which provides computer hardware and software to support Internet networks.
"Our board unanimously agreed that he is the perfect fit, and we are delighted to have him join NCR," Ringler said in a statement.
"I see a lot of opportunity at NCR to take a very healthy company with a strong brand and superb technology and build it into an even greater business," Nuti said. |
