Diebold (DBD) Tops Q2 EPS by 5c; Eliminates COO Position

Diebold (NYSE: DBD) reported Q2 EPS of $0.44, $0.05 better than the analyst estimate of $0.39. Revenue for the quarter came in at $733.4 million versus the consensus estimate of $709.17 million.

Diebold also announced it is continuing to shape its senior leadership structure and has eliminated the position of chief operating officer (COO). As a result, George S. Mayes Jr., executive vice president and COO, has left the company. Mayes, 56, joined Diebold in January 2005 as vice president, global manufacturing, and was named COO in January 2013.

"George played a key role during the leadership transition in 2013 and helped me establish a strong foundation for the future of our company," said Andy W. Mattes, Diebold president and chief executive officer. "We wish him all the best in the next step in his career."

As Diebold increases its emphasis on growing services and software, the company has been implementing a more distributed leadership model at the senior level -- allowing more decisions to be made closer to the customer -- while leveraging new systems and processes to foster a sound global control environment.

"It's important that we continue to simplify our decision-making processes as we progress through our Diebold 2.0 transformation," Mattes continued. "We've developed a strong bench of accomplished leaders with relevant experience that gives me confidence we have the right composition to succeed in becoming a more services-led, software-enabled company."

For earnings history and earnings-related data on Diebold (DBD) click here.

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