Bill Nuti

Last updated
Bill Nuti
Alma mater Long Island University
OccupationBusinessman
Known forChairman & CEO of NCR Corporation

William (Bill) R. Nuti is an American businessman from New York. [1] [2] He was the CEO and Chairman of NCR Corporation from 2005 until 2018, when he stepped down from the position. [3] He joined the company after it spun out of AT&T. [4] Nuti holds a BSc. in Finance and Economics from C.W. Post College. [2]

Contents

Education

Nuti has a BSc. in Finance and Economics from C.W. Post College, part of Long Island University (1986). [5]

Career

While in college, Nuti worked for IBM, selling copiers. Following his graduation in 1986, Nuti accepted a full-time position with IBM, selling telephone systems for an entity IBM had recently acquired. [6] In 1988, Nuti left IBM for a start-up company, Network Equipment Technology, which was based in San Jose, California. In 1990, he joined Netrix as a regional manager. One of the company's customers was Cisco, which hired Nuti in 1991. [6]

In 1997, Nuti moved to Singapore and ran Cisco in the Asia/Pacific region. In 1999, he moved to London and ran Cisco Europe, Middle East, and Africa, and more than doubled Cisco's revenue in the region. [7] In 2001, he returned to Cisco's headquarters and became senior vice president responsible for both the company's Worldwide Service Provider business and the U.S. Theater Operations. [8] In this dual role, he led Cisco's field operations, systems engineering, professional services, marketing and U.S. sales divisions. [9]

In 2002, he left Cisco and joined Symbol Technologies as President and COO. [10] He became CEO in 2003 and returned the company to profitability for the first time in five years, increasing revenue growth by 24% from 2002-2004. [7]

NCR Corporation

When Nuti joined NCR in 2005 [11] its compound annual growth rate over the eight years following the spinoff was less than 1 percent. [4]

Nuti spent 2006-10 restructuring the company's entire supply chain. In January 2007, NCR announced a spinoff of Teradata, the company's data-warehousing business, [12] which was completed on October 1, 2007. [13] In 2009, NCR announced that its headquarters would move from Dayton, Ohio to Atlanta, Georgia. [2] [14] Nuti explained the decision in a 2012 interview: “The decision was good for the company long term, but we made it with a heavy heart.” [2]

In 2011, NCR started making investments in developing the company vision. NCR made a number of acquisitions including Radiant in 2011, [15] Retalix in 2013, [16] and Digital Insight in 2014. [17]

In November 2015, NCR announced a strategic partnership with Blackstone, which NCR said would accelerate its “ongoing strategic transformation into an integrated software and services company.” The agreement called for affiliates of Blackstone to invest $820 million in NCR in the form of perpetual convertible preferred shares. [18] NCR used the Blackstone investment to help fund a share repurchase through a self-tender offer for $1 billion of its common stock. [18]

As of 2016, NCR had $1.8 billion in software revenue and $600 million in cloud revenue, up from zero as recently as 2010. Its non-GAAP operating income increased from $383 million in 2010 to $840 million in 2016. [19]

On March 22, 2018, Nuti announced he was stepping down from the position of NCR's CEO for health reasons. [20]

Board memberships

In June 2008, Nuti was appointed to Sprint Communications' Board of Directors, where he served until July 2013. [21] In May 2014, he was elected to the Board of Directors at Coach, Inc., [22] where he serves on the human resources committee. [23]

In 2014, Nuti became a member of the Georgia Institute of Technology advisory board, [8] where he served until 2017. In December 2013, he joined the Board of Directors of United Continental Holdings (United Airlines), [24] where he serves on finance, compensation, and public responsibility committees. [25] He is a trustee at Long Island University. [26] In the past, he served on the board of Opus360 Corp. [27]

Writing and speaking

In 2014, Nuti was the primary speaker at the Dubai International Project Management Forum (DIPMF). [7] He spoke at the White House Forum on Strategy for American Innovation. In 2017, articles by Nuti were published in The Wall Street Journal, [28] Entrepreneur, [29] and Mobile Payments Today. [30]

Honors

In June 2005, American Business Awards called Nuti the “Best Turnaround Executive.” [31] In 2015, he was named “Most Admired CEO” by the Atlanta Business Chronicle. [11] He has also been included on Long Island University's list of Notable Alumni. [32] In 2014, he was a recipient of the Atlantic Legal Foundation's Annual Award. [33] In 2017, he received the Lifetime Global Innovation Award from the ATM Industry Association. [34]

Personal life

Nuti was raised in a two-bedroom tenement in the Bronx. To earn money, Nuti started delivering newspapers when he was nine years old. [35]

He lives in New York City with his wife, Michele, and their one son.

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References

  1. ↑ "Stocks". Bloomberg.com. Retrieved 2018-02-04.
  2. 1 2 3 4 "Bill Nuti on Reinventing NCR". www.bcgperspectives.com. Retrieved 2017-07-11.
  3. ↑ "NCR Names Michael Hayford Chief Executive Officer, Frank Martire Executive Chairman, and Bill Nuti Chairman Emeritus" . Retrieved 2018-08-02.
  4. 1 2 "How Bill Nuti reinvented NCR Corp.'s culture and infrastructure - Smart Business Magazine". Smart Business Magazine. Retrieved 2017-07-11.
  5. ↑ "LIU Post Means Business - Long Island University". www.liu.edu. Retrieved 2017-07-11.
  6. 1 2 Jacobs, Emma (18 February 2011). "20 questions: Bill Nuti, NCR". Financial Times. Retrieved 2017-07-11.
  7. 1 2 3 "Bill Nuti is the primary speaker in Dubai International Project Management Forum - AMEInfo". ameinfo.com. Retrieved 2017-07-11.
  8. 1 2 "Event Details". Georgia Tech Scheller College of Business. Retrieved 2017-07-11.
  9. ↑ "Press release dated August 1, 2005". www.sec.gov. Retrieved 2017-07-11.
  10. ↑ Rosencrance, Linda. "Cisco exec resigns, moves to Symbol". Computerworld. Retrieved 2017-07-11.
  11. 1 2 "Bill Nuti". NCR | World Leader In Consumer Transaction Technologies. 2017-01-24. Retrieved 2017-07-11.
  12. ↑ Hagerty, John (2007-01-09). "NCR To Spinoff[sic] Teradata". Forbes. Retrieved 2017-07-11.
  13. ↑ "Press Release| Investor Relations | NCR". investor.ncr.com. Retrieved 2017-07-11.
  14. ↑ "NCR on the Forbes America's Best Employers List". Forbes. Retrieved 2017-07-11.
  15. ↑ "NCR completes acquisition of Radiant Systems". NCR | World Leader In Consumer Transaction Technologies. 2011-08-23. Retrieved 2017-07-11.
  16. ↑ "NCR Corporation - News Release". investor.ncr.com. Retrieved 2017-07-11.[ permanent dead link ]
  17. ↑ "NCR to Buy Digital Insight for $1.65 Billion for Web Banking". Bloomberg.com. Archived from the original on 2016-04-20. Retrieved 2017-07-11.
  18. 1 2 "NCR Announces Strategic Partnership with Blackstone Including $820 Million Equity Investment to Accelerate NCR's Transformation". NCR | World Leader In Consumer Transaction Technologies. 2015-11-12. Retrieved 2017-07-11.
  19. ↑ "Document". www.sec.gov. Retrieved 2017-07-11.
  20. ↑ "NCR Chairman and CEO Bill Nuti to Step Down for Health Reasons" . Retrieved 2018-03-22.
  21. ↑ "Sprint Nextel Announces Appointment of William Nuti to Its Board of Directors | Sprint Newsroom" . Retrieved 2017-07-11.
  22. ↑ "Board of Directors :: William Nuti". www.coach.com. Retrieved 2017-07-11.
  23. ↑ "COACH - Committees". www.coach.com. Retrieved 2017-07-11.
  24. ↑ "United Continental Holdings Names William R. Nuti to Board of Directors". United - Newsroom. Retrieved 2017-07-11.
  25. ↑ "Committee Composition". ir.united.com. Retrieved 2017-07-11.
  26. ↑ "Board of Trustees | LIU". www.liunet.edu. Retrieved 2017-07-11.
  27. ↑ "Opus360.com - About Opus360: Board of Directors". www.wayfan.com. Retrieved 2017-07-11.
  28. ↑ Nuti, Bill. "WSJ: 24/7 Banking Is 50 Years Old". Dow Jones Digital Reprint Solutions. Retrieved 2017-07-11.
  29. ↑ Nuti, Bill. "Bill Nuti". Entrepreneur. Retrieved 2017-07-11.
  30. ↑ "The new payment future: 3 technologies leading the way". www.mobilepaymentstoday.com. 2017-04-04. Retrieved 2017-07-11.
  31. ↑ Inc., Symbol Technologies. "Symbol Technologies President and CEO Bill Nuti Garners Best Turnaround Executive Award at the 2005 American Business Awards". www.prnewswire.com. Retrieved 2017-07-11.{{cite web}}: |last= has generic name (help)
  32. ↑ "Alumni List | LIU". liu.edu. Retrieved 2017-07-11.
  33. ↑ "Reinvention: A CEO Instills A Vibrant Culture In A 130-Year-Old Company | The Metropolitan Corporate Counsel". www.metrocorpcounsel.com. Retrieved 2017-07-11.
  34. ↑ "NCRs Bill Nuti Receives ATM Industry Association Lifetime Global Innovation Award" . Retrieved 2017-07-11.[ permanent dead link ]
  35. ↑ "How My Job as a Paperboy Taught Me About the Power of Reinvention". NCR | World Leader In Consumer Transaction Technologies. 2017-03-14. Retrieved 2017-07-11.
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