NCR Corp. has appointed CEO-designates Tim Oliver, current senior EVP and CFO, and David Wilkinson, EVP and president of NCR Commerce, for SpinCo and RemainCo respectively. The company plans to separate into these two companies by the fourth quarter of 2023, with the names yet to be determined, according to a press release.

"This Board has had the pleasure of watching Tim and David in action for some time, and we are unanimous in our belief that they are the right leaders to take these two industry-leading, technology-driven companies forward," Joseph Reece, chairman, NCR, said in the release. "Tim and David have the acumen and deep experience necessary to successfully drive shareholder value while ensuring our customers and employees continue to be at the center of all we do."

"I am pleased these exceptional, experienced and proven NCR leaders will take our customer-focused, as a service businesses to the next chapter," Michael D. Hayford, CEO, NCR, said in the release. "I look forward to working with Tim and David to execute a smooth and effective transition as the companies take their final form."

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