Octavio Marquez on China market
From Diebold Nixdorf CEO: Banking On Tech | Mad Money | CNBC · · CNBC
“We're the only Western player that actually did local joint ventures in China, so we're back at the starting line to re-enter the market and have a shot at what still is the biggest growth market in our industry.”
On , Octavio Marquez, President, Chief Executive Officer & Director at DIEBOLD NIXDORF INC, spoke about China market during Diebold Nixdorf CEO: Banking On Tech | Mad Money | CNBC on CNBC.
About Octavio Marquez
In a September 2017 interview on CNBC's *Mad Money*, Octavio Marquez discussed the state of Diebold Nixdorf following its acquisition of Wincor Nixdorf, which he described as "the biggest transformational deal" in the company's history. Marquez stated that the company's first priority was paying down debt, noting that leverage had moved from nearly four times to closer to three times after paying down $200 million. He identified four industry drivers—digitalization, individualization, automation, and miniaturization—and said the company plays on all of them. Marquez also addressed competition in retail technology, acknowledging Amazon as "the 800-pound gorilla" but asserting that Diebold Nixdorf is "right there with them," showcasing technology for phone-based checkout and optimized shopping lists. He described the company's role in "the store of the future" as managing everything with a plug, including electronic self-checkout and customer recognition. On labor trends, Marquez said the goal is to transition employees from repetitive tasks to consulting and advisory roles. He also noted that Diebold Nixdorf is the market leader in the Americas and most European countries, and that the company is re-entering the Chinese market through local joint ventures.