Shanks named new CFO at NCR

DAYTON, Ohio - Earl Shanks, who has been with ATM manufacturer NCR since 1996 and most recently was vice president of corporate finance, on Tuesday was named senior vice president and chief financial officer, effective September 10. Shanks replaces David Bearman, who is retiring from the company at year's end.

Before joining NCR, Shanks was vice president and treasurer at Fruit of the Loom Ltd. During his time at NCR, Shanks has also served as treasurer and head of mergers and acquisitions. Shanks will also replace Bearman on NCR's four-member Executive Committee, which is responsible for establishing company direction.

"Earl is an exceptional executive to succeed David," Lars Nyberg, NCR chairman and chief executive officer, said in a press release. "He quickly demonstrated leadership in each of the corporate finance positions he has held since coming to NCR, and continually demonstrates the qualities necessary to be an outstanding chief financial officer for the company."

Bearman joined NCR in 1998, having previously worked for Cardinal Health Inc. and General Electric.