Ohio Pen - Diebold Nixdorf Announces Thomas Timko as Chief Financial Officer

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NORTH CANTON, Ohio, April 25, 2024 ~ Diebold Nixdorf, a leading provider of integrated solutions for companies and consumers, has announced the appointment of Thomas Timko as their new executive vice president and chief financial officer (CFO). Timko will officially take on his new role on May 17, 2024.

In his new position, Timko will be responsible for overseeing Diebold Nixdorf's financial strategies. This includes optimizing the organization's global financial systems and aligning the company's strategy with its financial performance to create value for stockholders and other stakeholders. He will also oversee various departments such as corporate finance, treasury, strategy, financial planning and analysis, tax accounting, investor relations, risk management and shared services.

Timko will be succeeding current CFO Jim Barna, who will assist in a smooth transition before taking on the role of executive vice president of transformation. Octavio Marquez, Diebold Nixdorf's president and CEO expressed his confidence in Timko's abilities stating that he is an accomplished financial leader with a deep background in various key financial disciplines. He also highlighted Timko's experience in guiding the financial strategies of leading publicly traded companies.

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With over 30 years of experience operating in complex environments, Timko brings a proven track record of delivering both financial and operational discipline. His transformational leadership skills have been recognized during his time at major global industries. Marquez believes that Timko's contributions will be valuable as the company embarks on an exciting new phase of their continuous improvement journey.

Marquez also took the opportunity to thank Jim Barna for his leadership as CFO during a crucial time for the company. Under Barna's guidance, Diebold Nixdorf underwent major actions to restructure their debt and emerge as a financially stronger company with an optimized balance sheet and increased liquidity.

Prior to joining Diebold Nixdorf, Timko served as global chief accounting officer (CAO) and controller at GE for almost six years. In this role, he led a large global team and served as a key strategic advisor to the executive team. He was also instrumental in supporting the successful transformation of the 130-year-old multinational corporation into three stand-alone companies.

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Timko's previous experience also includes over five years at General Motors (GM) as CAO and controller. During his time at GM, he worked closely with the CEO to implement a Global Strategic Risk Management Program and managed the disposition of GM's $19 billion European business.

Throughout his career, Timko has held various leadership positions including vice president and CAO at Applied Materials and CAO and controller at Delphi Corporation. His experience in financial due diligence for a $5 billion acquisition and supporting companies through bankruptcy make him a valuable addition to Diebold Nixdorf's team.

In response to his appointment, Timko expressed his excitement to join Diebold Nixdorf's talented, collaborative, and customer-focused team. He believes that the company has taken necessary steps to position itself for future success and is looking forward to leading the finance organization and partnering with the team to help realize its full potential and create value for stockholders.

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