---
schema_version: "secwatch.filing_event.v1"
accession: "0000028823-22-000038"
form_type: "8-K"
ticker: "DBD"
cik: "0000028823"
company_name: "DIEBOLD NIXDORF, Inc"
filed_at: "2022-02-10T23:59:59+00:00"
generated_at: "2026-06-27T09:21:20.881705+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Diebold Nixdorf names Octavio Marquez CEO, replacing Gerrard Schmid effective March 11, 2022

## Summary
- Gerrard Schmid steps down as President and CEO on March 11, 2022; to remain on board until 2022 annual meeting and serve as advisor through June 11.
- Octavio Marquez, EVP of Global Banking covering 70% of revenue, appointed President and CEO and to the board.
- Marquez receives base salary of $850,000, cash incentive target of $1.02 million (120% of base), and $5 million long-term grant.
- Schmid receives separation payment of $4 million payable in three equal installments by September 2022.
- Schmid's outstanding equity awards stay eligible to vest during advisory period until board term expires.

## SEC filing metadata
- accession: 0000028823-22-000038
- form_type: 8-K
- ticker: DBD
- cik: 0000028823
- company_name: DIEBOLD NIXDORF, Inc
- filed_at: 2022-02-10T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/28823/000002882322000038/0000028823-22-000038-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/28823/000002882322000038/dbd-20220206.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000028823-22-000038
- JSON: https://secwatch.observer/filing/0000028823-22-000038.json
- Plain text: https://secwatch.observer/filing/0000028823-22-000038.txt

## Key facts
- Executive change
  Gerrard B. Schmid departed as President and Chief Executive Officer at DIEBOLD NIXDORF, Inc.
  - Action: stepped down
  - Role: President and Chief Executive Officer
  source text: Gerrard B. Schmid will step down as the Company’s President and Chief Executive Officer
  evidence_url: https://www.sec.gov/Archives/edgar/data/28823/000002882322000038/0000028823-22-000038-index.htm
- Executive change
  Octavio Marquez was appointed as President and Chief Executive Officer at DIEBOLD NIXDORF, Inc.
  - Action: appointed
  - Role: President and Chief Executive Officer
  source text: Octavio Marquez, the Company’s current Executive Vice President of Global Banking, has been appointed to succeed Mr. Schmid as President and Chief Executive Officer as of that date.
  evidence_url: https://www.sec.gov/Archives/edgar/data/28823/000002882322000038/0000028823-22-000038-index.htm
- Executive change
  Octavio Marquez was appointed as Director at DIEBOLD NIXDORF, Inc.
  - Action: appointed
  - Role: Director
  source text: the Board will increase the number of directors of the Company from 12 to 13 and will appoint Mr. Marquez, age 54, to the Board to fill the vacancy created by the increase.
  evidence_url: https://www.sec.gov/Archives/edgar/data/28823/000002882322000038/0000028823-22-000038-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.