News

NCR's CFO resigns

October 21, 2003

DAYTON, Ohio - Earl Shanks, senior vice president and chief financial officer of NCR Corporation(NYSE:NCR), is resigning from NCR to accept a position at another company.

According to a news release, Shanks' move is effective on Nov. 9, following his certification of the company's third-quarter financial results. On Oct. 23, NCR will report third-quarter earnings per share ahead of the analysts' consensus estimate.

The duties of the CFO will be filled on an interim basis by Vice President of Finance Pete Bocian, a 20-year NCR veteran, while the company completes its review of internal and external candidates for a permanent replacement.

In Bocian's current role, he is responsible for financial planning and decision support for NCR, all finance re-engineering efforts and operational accountability for the company's shared service centers.

Previously, he was CFO of NCR's Retail and Financial Group and was responsible for the combined financial and administrative functions for the four business units comprising that group. Bocian has served in senior finance roles in a number of NCR business units, including Retail Store Automation and Teradata Data Warehousing.

"Departing a company that is making great improvements in operational performance is tough, but I do so knowing that NCR has a bright future, as well as a strong finance team in place both at the corporate and business-unit levels," said Shanks, who has accepted the position of CFO at Convergys Corporation (NYSE:CVG), a developer of billing and customer service software.

NCR's senior management will discuss the company's third-quarter results during a conference call at 10 a.m., Eastern Time, on Oct. 23, according to the release. Live access to the conference call, as well as a replay, will be available on NCR's Web site.