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NCR

NCR Corp. Board Member Richard T. McGuire III Steps Down

ATM and POS manufacturer, NCR CorporationNCR recently announced that Richard T. (Mick) McGuire III, a member of its board of directors as well as a founder and Chief Executive Officer (CEO) at Marcato Capital Management, LLC has stepped down.

Mick has been the Director of NCR since Nov 2014. Managing the affairs of NCR for almost one year, Mick had proficiently handled the company's financial affairs and has added to NCR's growth and success. He had assisted the expansion of NCR's business and supported the strategic alliance with Blackstone Group L.P. BX .

Mick had earlier served as a Chairman of Borders Group, Inc. from 2009-2010. With a series of educational and professional degrees, including an MBA from Harvard Business School and A.B. in Economics from Princeton University, he has been instrumental in improving the company's technological expertise, thereby helping NCR to grow as a software and services company.

Management believes that with his able leadership, considerable experience and business proficiency, he has been an asset for NCR and has helped the company achieve its long-term goals.

McGuire on his part said that "It has been a pleasure to serve on the Board of NCR. I have confidence that the new Blackstone directors will bring ample analytical and strategic resources and a shareholder's perspective to the Board."

We note that NCR recently entered into a strategic partnership with Blackstone, one of the world's leading investment and advisory firms.

According to sources, Blackstone will invest around $820 million and will get to appoint two members to its board. Also, NCR has plans to enhance it shareholders' wealth by giving approval to a $1 billion share buyback program.

Conclusion

NCR's growing exposure in the ATM and self-service kiosk spaces is encouraging, given the tremendous growth prospects in the respective markets. Continuous product launches, growing popularity of its self-service offerings and synergies from acquisitions are the catalysts. Continuous deal wins are the other growth drivers. Moreover, NCR strengthened its position in the POS market through the integration of Radiant Systems.

However, softness in the ATM business in mature markets, competition from Diebold Incorporated DBD and Hewlett-Packard HPQ , and a high debt burden remain concerns.

Currently, NCR carries a Zacks Rank #3 (Hold).

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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