NCR has announced Laura Sen, former non-executive chair and CEO of BJ’s Wholesale Club Inc., and Glenn Welling, principal and chief investment officer at Engaged Capital, have been nominated for election to its Board of Directors.
Ms. Sen is the retired non-executive chair and CEO of BJ’s Wholesale Club Inc., a Fortune 500 retail chain. In that role, she was responsible for all day-to-day operations and more than 25,000 employees. Under her leadership, the company grew the number of retail stores to 216 locations with revenues of more than $12 billion. Ms. Sen began her career at Zayre Corporation, a retail conglomerate, where she served as vice president of merchandising, and operated her own retail consulting business. She has been listed on Forbes’ 100 Most Powerful Woman in Business and Boston Magazine’s 50 Most Powerful Women. She holds a Bachelor of Arts from Boston College.
“We look forward to welcoming Laura to the NCR Board of Directors and drawing on her deep expertise in retail technology as we continue transforming NCR into a software platform and payments company,” said Michael Hayford, Chief Executive Officer, NCR.
“My connection with NCR began as a customer and I look forward to continuing my involvement by joining the NCR Board,” said Ms. Sen. “I think my experience in the retail industry, coupled with my board experience, will be helpful to the NCR team.”
Mr. Welling is principal and chief investment officer of Engaged Capital, a firm he founded in 2012. Prior to Engaged Capital, he was a principal and managing director at Relational Investors, a $7 billion investment fund. He also spent seven years as a managing director in the investment bank at Credit Suisse. Prior to that, Mr. Welling led strategy consulting at HOLT Value Associates and Valuad U.S., and worked as a consultant at A.T. Kearney and Marakon Associates. He is a graduate of the Wharton School of the University of Pennsylvania.
“Glenn and Engaged Capital have been investors in NCR for more than four years, during which time they have developed a constructive working relationship with our management team. Having a long-term investor on our board during our strategic review process will be valuable for our company and all our shareholders,” said Hayford.
“Over the last four years, we have watched NCR’s management team transform the company from a hardware business to an innovative, growing and highly profitable recurring revenue software and services business,” said Mr. Welling. “I am looking forward to joining the NCR board to work with Mike and the team to unlock the inherent value of NCR.”
Both will stand for election at NCR’s annual meeting of shareholders on May 2, 2022, and would be added to our board after that election.