Investor says Diebold is 'set up for success' with new CEO
Installing a new CEO at the helm seems to have helped Diebold Nixdorf Inc. calm the jitters of some of its shareholders — in particular, activist investor Alexander Roepers, and his firm Atlantic Investment Management.
In late February, developments in the C-suite at Diebold led Roepers to increase his firm's stake in the ATM-maker from 5.1 percent — initially purchased when Diebold acquired Wincor Nixdorf in 2016 — to a new total of 8 percent, or 6.1 million shares, according to a Reuters report.
On Feb. 21, Diebold Nixdorf announced that it had hired Gerrard Schmid, previously CEO of global fintech D+H Corp, to lead the company as president and CEO. Andy Mattes stepped down from his position as president and CEO of Diebold Nixdorf in December.
Reuters quoted Roepers as saying, "The newly combined company is now set up for success."
According to the report, Roepers expects Diebold stock to increase 50–100 percent in value within 18 months. This will come as good news for stockholders who saw the company's share value slide from $28.16 the week of Aug. 12, 2016, when the business combination was finalized, to $14.90 on Feb. 21.
Since Schmid's hiring, Diebold stock has rallied to $17.45 at close of day Tuesday, March 13.
Companies: Diebold Nixdorf