Walden O’Dell, chairman and CEO of security integrator and manufacturer Diebold, has resigned. In his place, President and COO Thomas Swidarski has been elevated to CEO, while John Lauer will serve as chairman.

“The board of directors and Wally mutually agreed that his decision to resign at this time for personal reasons was in the best interest of all parties,” Lauer said in a statement, affirming his support for Swidarski, who will also retain his previous positions. “The board and I have been impressed with the initiatives Tom has launched in his role as COO, and feel Tom’s demonstrated leadership is crucial to improving the company’s performance moving forward.”

Before coming to Diebold, Swidarski had more than 20 years in the financial industry, serving as a chef executive with PNC Bank.

O’Dell had been under fire for reasons outside the electronic security business, including lawsuits over defects in Diebold’s voting machines and reports by several media sources that the U.S. Securites and Exchange Commission is investigating O’Dell and other Diebold executives for insider trading.

If you enjoyed this article and want to receive more valuable industry content like this, click here to sign up for our FREE digital newsletters!

Related Content