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Wally O'Dell, Diebold CEO, resigns! [View All]

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garybeck Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Dec-12-05 05:23 PM
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Wally O'Dell, Diebold CEO, resigns!
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Edited on Mon Dec-12-05 05:29 PM by garybeck
DIEBOLD CEO WALDEN O'DELL RESIGNS!
Controversial, Partisan Head of Voting Machine Company Steps Down Citing 'Personal Reasons'
Fraud Securities Litigation -- as previously reported in a BRAD BLOG Exclusive -- is Imminent!

Diebold, Inc. (stock symbol: DBD) CEO Walden O'Dell has resigned due to what company officials describe in a press release as "personal reasons". Reuters is reporting that O'Dell will be replaced by the company's president and chief operating officer, Thomas Swidarski.

As The BRAD BLOG reported exclusively late last last week, the filing of a securities fraud class action litigation against the company, O'Dell and other current and former members of their Board of Directors is now imminent. The BRAD BLOG has learned that the case may be filed in Ohio Federal District court as early as today or tomorrow. We will, of course, have more details when that occurs.

O'Dell has faced a great deal of criticism for his statement to Republican fundraisers, prior to the 2004 Presidential Election, that Diebold was committed to delivering the electoral vote of the state of Ohio to George W. Bush. O'Dell was part of Bush's "Rangers and Pioneers," a group of individuals who had raised at least $100,000 each for Bush/Cheney's 2004 re-election campaign.

In the wake of the controversy concerning O'Dell's involvement with the Bush/Cheney campaign, a corporate policy was instituted to disallow involvement in political campaign by senior executives at the company. A report late last week, however, revealed that several Diebold executives had continued to donate to GOP campaigns even after the policy was enacted.

full article at Brad Blog

http://www.bradblog.com/archives/00002149.htm
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