Lars Nyberg Resigns as NCR CEO, Remains Chairman; Board Names Mark Hurd to CEO Post

Business Wire, Feb 19, 2003

Business Editors

DAYTON, Ohio--(BUSINESS WIRE)--Feb. 19, 2003

NCR Corporation today announced that the Board of Directors, at a special meeting held today, has accepted the resignation of Lars Nyberg as chief executive officer (CEO) to allow him to address certain family matters. Nyberg will continue in the role of non-executive chairman of the NCR board. The board today named Mark Hurd, president, to the post of chief executive officer of NCR, and elected him to the board. The moves take effect on March 14, 2003.

Nyberg, 51, has served with NCR since 1995 and directed the company through its 1996 spin-off from AT&T Corporation and return to profitability. Hurd, 46, started his career at NCR in 1980, took over management of the company's Teradata data warehousing business in 1999, was named NCR president in 2001 and added the NCR chief operating officer (COO) title in September 2002.

In appointing Hurd CEO, the board stated, "We are appreciative of Lars' leadership as CEO and the fact that we'll continue to benefit from his insights as chairman, but we also respect and understand his need to address his family concerns. At the same time, we are extremely fortunate to have an individual in Mark Hurd who has demonstrated both his readiness and the leadership skills to take NCR into the future. The board enthusiastically endorses Mark as the next CEO of NCR, and we look forward to working with him."

"In my eight years of leading NCR, the company has re-emerged as a global market leader in businesses such as data warehousing, financial self-service and retail store automation," said Nyberg. "There is still much to do, and I regret having to leave the CEO position before my work is finished, but I am highly confident that our progress will carry on under the leadership of Mark Hurd and the many NCR employees worldwide who make the company go. Mark is clearly ready for the job, and I'm looking forward to seeing him succeed at the helm of NCR."

Hurd has had many successes during his 23-year career at NCR, most notably the building of Teradata into a growing, profitable market leader in large data warehouses, a critical technology market segment. Today, Teradata is a $1.2 billion business for NCR, offering powerful analytical solutions that help businesses drive growth. Most recently as NCR COO, Mark has been instrumental in formulating and executing strategies to maximize operating efficiencies and profitability across all of the company's businesses.

"I am grateful for both Lars' and the board's support, and I am very much looking forward to this opportunity," said Hurd. "NCR has refocused on global businesses where the company can build and sustain market leadership positions. With that direction in place throughout the organization, NCR is on a path to deliver on its potential for operational excellence and value creation. We will miss Lars' day-to-day involvement as we move down this path, but we have a great team in place to execute our business plan, and I am confident in NCR's future."

About NCR Corporation

NCR Corporation (NYSE:NCR) is a leading global technology company helping businesses build stronger relationships with their customers. NCR's ATMs, retail systems, Teradata(R) data warehouses and IT services provide Relationship Technology(TM) solutions that maximize the value of customer interactions. Based in Dayton, Ohio, NCR (www.ncr.com) employs approximately 30,100 people worldwide.

NCR and Teradata are trademarks or registered trademarks of NCR Corporation in the United States and other countries.

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