Diebold Nixdorf announced the appointment of Thomas Timko as executive vice president and chief financial officer (CFO), effective May 17, 2024. He will be responsible for Diebold Nixdorf’s financial strategies, including optimizing the organization’s global financial systems and driving alignment of the company’s strategy to its financial performance to build value for stockholders and other stakeholders. He will also oversee corporate finance, treasury, strategy, financial planning and analysis, tax accounting, investor relations, risk management and shared services. Timko will succeed current CFO Jim Barna, who will assist Timko in an orderly transition and become EVP, Transformation.
Octavio Marquez, Diebold Nixdorf president and chief executive officer, said: “Tom is an accomplished financial leader who has a deep background across a number of key financial disciplines and has worked across major global industries, helping guide the financial strategies of leading publicly traded companies. He brings a proven track with more than 30 years of experience operating in highly complex environments, while delivering financial and operational discipline, and transformational leadership. We look forward to Tom’s contributions as we pursue this exciting new phase of our continuous improvement journey. I also want to thank Jim for his leadership as CFO as we undertook major actions to restructure our debt and emerge as a financially stronger company, well-positioned to drive solid performance with an optimized balance sheet, more liquidity and less debt, while creating a foundation for the company’s long-term success.”
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Timko, for almost six years, served as global chief accounting officer (CAO) and controller at GE, where he led a large global team and served as a key strategic advisor to the executive team, most recently supporting the successful transformation of the 130-year-old multinational corporation into three stand-alone, fit-for-purpose companies. Prior to GE, Timko spent over five years at General Motors (GM) as CAO and controller. During this time, he partnered with GM’s CEO to implement a Global Strategic Risk Management Program, led the Global Business Solutions function with over 2,500 service team members, and managed the disposition of GM’s $19 billion European business.
Earlier in his career, Timko served in a variety of leadership positions, including vice president and CAO at Applied Materials where he oversaw FP&A and managed the financial due diligence for a $5 billion acquisition, and as CAO and controller at Delphi Corporation, supporting their emergence from bankruptcy.
“I am thrilled to join such a talented, collaborative and customer-focused team. Diebold Nixdorf is a unique company whose integrated solutions support companies and consumers across the globe,” said Timko. “I believe the company has taken the necessary steps to position itself for future success and I look forward to leading the finance organization and partnering with the team to help the company realize its full potential and create value for our stockholders.”
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