Diebold leaders conveyed a message of contrition to investors during the ATM manufacturer’s fourth quarter 2012 earnings call, acknowledging that change is needed and promising further organizational changes and structural cost reductions to improve performance.

“To be frank, the 2012 results and the present outlook for 2013 are disappointing and we need to improve…Diebold is far from being a broken company, but it is an underperforming company,” said Executive Chairman Henry Wallace, who assumed general oversight of Diebold following the Jan. 24 ousting of CEO Thomas Swidarski and subsequent departure of Charles Ducey, Jr., who had served as executive vice president of North American operations.

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