CANTON, Ohio - Raymond Koontz, chairman emeritus of Diebold Inc., died on Sept. 7. He was 83.
Mr. Koontz came to the vendor of security equipment in 1947 and led its diversification into automated teller machines in the 1970. Diebold became the market leader in ATMs and has supplied a majority of those installed in the United States.
"I owe a deep debt of gratitude to Ray for his personal support through the years," said Robert W. Mahoney, Diebold's current chairman, president, and chief executive officer. "He will be greatly missed."
Mr. Koontz joined Diebold as chief financial officer and assistant to the president. He became a director in 1949 and president in 1952, when annual revenues were $18 million. In 1988, when he retired as chairman and CEO, revenues totaled $451 million.
He was named chairman emeritus in April 1995.