Headlines:
VP for Marketing Is Leaving Diebold
Another top executive is leaving Diebold Inc., the big automated teller machine manufacturer.
Daniel J. O'Brien, 56, its vice president for global product marketing, product management, and engineering, is retiring, the company said Wednesday. He will be a consultant to it.
Charles E. Ducey, who was the vice president for global customer service solutions, took over some of his duties. Mr. Ducey was named vice president for global development and service and put in charge of engineering, product management and marketing, and software product management for Diebold's financial self-service business.
The change brings product development functions closer to customer service, the company said.
"Product engineering and software capabilities directly impact the effectiveness and cost of our services, which impacts our customers," said Thomas W. Swidarski, its president and chief executive, in a press release. "My goal is to strengthen the view of Diebold from the customer's perspective and create an integrated, seamless solution in product development."
The North Canton, Ohio, company has reported lackluster sales for several quarters and has made major changes in recent months.
Last month Walden W. O'Dell resigned as chairman and chief executive, and Mr. Swidarski succeeded him as the CEO. In September the company created a financial self-service business unit by combining its ATM product and software development, manufacturing, procurement, and marketing operations. Mr. Swidarski was named the senior vice president in charge of the unit.
At that time also Diebold said it would not renew the contract of its president and chief operating officer, Eric C. Evans. Mr. O'Dell took on some of those duties until Mr. Swidarski was promoted in October to president and chief operating officer.
CheckFree's Stock Falls on Downgrades
CheckFree Corp.'s stock fell this week after two analysts downgraded it.
Timothy W. Willi of A.G. Edwards & Sons Inc. cut his rating Thursday to "sell," from "hold." The Atlanta provider of payment services will probably grow more slowly as it diversifies and the payment market matures, he wrote in a note to clients.
The stock market will increasingly view CheckFree "as one of many players in the sizable and growing recurring bill payment market," Mr. Willi wrote, "rather than the 800-pound gorilla" in the smaller online bill payment market.
On Wednesday an analyst at Canadian Imperial Bank of Commerce's CIBC World Markets Inc. cut his CheckFree rating - but to "sector perform," from "sector outperform." The stock has risen 35% since October, Cannon Carr wrote, and "we think headwinds in coming quarters will likely mask solid underlying transaction fundamentals."
In October, on an earnings call, CheckFree executives told analysts that earnings would probably be "lumpy" in the current fiscal year, which will end June 30, because of factors including customer defections, expiring contracts, and acquisitions.
It announced one acquisition last week - of PhoneCharge Inc. of Ansonia, Conn., which specializes in last-minute bill payment by phone, for $100 million in cash. CheckFree said the deal fulfilled its goal of providing payment services through all channels - online, walk-in locations, call centers, and lockbox operations. (Banks and others use its software to turn check payments into automated clearing house transactions.)
CheckFree is scheduled to report its fiscal second-quarter earnings Jan. 24. At midday Thursday its stock was trading at $45.70, down 2.9% from Wednesday's close and 6.9% from Tuesday's.
