NCR Corp. Chairman and CEO Bill Nuti plans to step down due to health reasons.
Upon stepping down, Nuti will be appointed chairman emeritus and serve as a consultant to NCR. Nuti joined NCR in 2005 as president and CEO and was named chairman in 2007.
NCR's board is conducting a search for a CEO, which is expected to be completed in the next couple of months. Nuti will leave the position when his replacement is identified.
In addition, Paul Langenbahn was promoted to COO. He succeeds Mark Benjamin who has resigned to pursue an opportunity outside NCR. Langenbahn most recently was executive vice president of NCR Software.
Additionally, NCR has reaffirmed its first-quarter and full-year 2018 guidance. For the first quarter, the company expects revenue growth to be down 1% to up 2%, GAAP EPS to be between 16 cents and 29 cents and non-GAAP EPS to be in the range of 41 cents to 47 cents. For 2018, the company projects revenue growth of zero percent to 3%, GAAP EPS of $2.08 to $2.48 and non-GAAP EPS of $3.30 to $3.45.
The S&P Capital IQ consensus normalized EPS estimates are 45 cents for the first quarter and $3.35 for 2018.