The top executive at automated teller and financial technology company NCR announced he will retire after overseeing the company’s impending split into two public corporations.
Michael D. Hayford, NCR’s CEO since 2018, will retire after the company separates its hardware and software halves into two new brands next week. The hardware spinoff NCR Atleos will begin Tuesday trading on the New York Stock Exchange under the ticker NATL, while the remaining digital commerce half will rebrand as NCR Voyix and trade under the ticker VYX.
NCR, one of Atlanta’s largest public businesses and long-rumored as a potential acquisition target, has said dividing the businesses will spur further value for shareholders.
“I leave Atleos and Voyix confident in their futures, their new leadership and the dedication of their employees to build on a strong foundation,” Hayford said in a Wednesday news release.
While NCR Atleos plans to register as a Maryland corporation, both it and Voyix will base their operations in Atlanta. Tim Oliver is the CEO-designate of NCR Atleos, while David Wilkinson was tapped to lead NCR Voyix.
Since 2018, NCR has occupied a shiny 765,000-square-foot campus at Georgia Tech’s Technology Square, which remains under a long-term lease. NCR recently put one of the two office towers in the campus up for sublease.
Previous federal filings did not disclose the future headquarters of Atleos, but it is possible the ATM business opts to assume part or all of that sublease space. A company spokesperson has declined to provide more detail on both companies’ office plans.’
Credit: Katelyn Myrick
Credit: Katelyn Myrick
The impending split will likely result in both new companies falling off the Fortune 500 list of the largest American companies by revenue, which would leave metro Atlanta with 16 entries on the list.
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