Diebold Inc. this week announced that the board of directors has elected Henry D.G. Wallace as chairman of the board. Wallace replaces John N. Lauer, who has held the position since 2005 and now steps down as non-executive chairman in accordance with corporate governance guidelines that provide for director retirement at age 72.
Wallace has been a member of the Diebold board since 2003. Prior to joining the board, Wallace was group vice president for Ford Motor Co. operations in the Asia Pacific region, and also served as president and CEO of Mazda Motor Corp.
During his 30-year career at Ford, Wallace held numerous positions in finance and general management at Ford's operations in the U.K., Germany, the U.S., Mexico, Venezuela and Japan. He serves as chairman of the board at Lear Corporation and as a director at Ambac Financial Group Inc.
"I am eager to assume the role of chairman for Diebold," Wallace said. "The company has a lot of potential for greater value creation, and I look forward to making a significant contribution to the company's leadership and hope to build upon Diebold's rich history."
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