Exhibit 99.1
1700 South Patterson Boulevard
[LOGO] Dayton, OH 45479
NCR
Transforming Transactions NEWS RELEASE
into Relationships
For further media information: For investor information:
John Hourigan Gregg Swearingen
937-445-2078 (office) 937-445-4700 (office)
john.hourigan@ncr.com gregg.swearingen@ncr.com
For Release on February 19, 2003
Lars Nyberg Resigns as NCR CEO, Remains Chairman;
Board Names Mark Hurd to CEO Post
DAYTON, Ohio - NCR Corporation today announced that the Board of Directors,
at a special meeting held today, has accepted the resignation of Lars Nyberg as
chief executive officer (CEO) to allow him to address certain family matters.
Nyberg will continue in the role of non-executive chairman of the NCR board. The
board today named Mark Hurd, president, to the post of chief executive officer
of NCR, and elected him to the board. The moves take effect on March 14, 2003.
Nyberg, 51, has served with NCR since 1995 and directed the company through
its 1996 spin-off from AT&T Corporation and return to profitability. Hurd, 46,
started his career at NCR in 1980, took over management of the company's
Teradata data warehousing business in 1999, was named NCR president in 2001 and
added the NCR chief operating officer (COO) title in September 2002.
In appointing Hurd CEO, the board stated, "We are appreciative of Lars'
leadership as CEO and the fact that we'll continue to benefit from his insights
as chairman, but we also respect and understand his need to address his family
concerns. At the same time, we are extremely fortunate to have an individual in
Mark Hurd who has demonstrated both his readiness and the leadership skills to
take NCR into the future. The board enthusiastically endorses Mark as the next
CEO of NCR, and we look forward to working with him."
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"In my eight years of leading NCR, the company has re-emerged as a global
market leader in businesses such as data warehousing, financial self-service and
retail store automation," said Nyberg. "There is still much to do, and I regret
having to leave the CEO position before my work is finished, but I am highly
confident that our progress will carry on under the leadership of Mark Hurd and
the many NCR employees worldwide who make the company go. Mark is clearly ready
for the job, and I'm looking forward to seeing him succeed at the helm of NCR."
Hurd has had many successes during his 23-year career at NCR, most notably
the building of Teradata into a growing, profitable market leader in large data
warehouses, a critical technology market segment. Today, Teradata is a $1.2
billion business for NCR, offering powerful analytical solutions that help
businesses drive growth. Most recently as NCR COO, Mark has been instrumental in
formulating and executing strategies to maximize operating efficiencies and
profitability across all of the company's businesses.
"I am grateful for both Lars' and the board's support, and I am very much
looking forward to this opportunity," said Hurd. "NCR has refocused on global
businesses where the company can build and sustain market leadership positions.
With that direction in place throughout the organization, NCR is on a path to
deliver on its potential for operational excellence and value creation. We will
miss Lars' day-to-day involvement as we move down this path, but we have a great
team in place to execute our business plan, and I am confident in NCR's future."
About NCR Corporation
NCR Corporation (NYSE: NCR) is a leading global technology company helping
businesses build stronger relationships with their customers. NCR's ATMs, retail
systems, Teradata(R) data warehouses and IT services provide Relationship
Technology(TM) solutions that maximize the value of customer interactions. Based
in Dayton, Ohio, NCR (www.ncr.com) employs approximately 30,100 people
worldwide.
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NCR and Teradata are trademarks or registered trademarks of NCR Corporation in
the United States and other countries.
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Note to Investors
This news release contains forward-looking statements, including statements
as to anticipated or expected results, beliefs, opinions and future financial
performance, within the meaning of Section 21E of the Securities and Exchange
Act of 1934. Forward-looking statements include projections of revenue, profit
growth and other financial items, future economic performance and statements
concerning analysts' earnings estimates, among other things. These
forward-looking statements are based on current expectations and assumptions and
involve risks and uncertainties that could cause NCR's actual results to differ
materially.
In addition to the factors discussed in this release, other risks and
uncertainties include: the impact of recent terrorist activity on the economy or
the markets in general or on the ability of NCR to meet its commitments to
customers, the ability of NCR's suppliers to meet their commitments to NCR or
the timing of purchases by NCR's customers; the timely development, production
or acquisition and market acceptance of new and existing products and services;
shifts in market demands; continued competitive factors and pricing pressures;
short product cycles and rapidly changing technologies; turnover of workforce
and the ability to attract and retain skilled employees; tax rates; ability to
execute the company's business plan; general economic and business conditions;
and other factors detailed from time to time in the company's Securities and
Exchange Commission reports and the company's annual reports to stockholders.
The company does not undertake any obligation to publicly update or revise any
forward-looking statements, whether as a result of new information, future
events or otherwise.