CLEARWATER, Fla., April 19, 2018 /PRNewswire/ -- Tech Data (Nasdaq:
TECD) today announced that Richard T. ("Rich") Hume, executive vice
president, chief operating officer, will become the company's chief
executive officer effective June 6,
2018 and has been nominated to join the company's Board of
Directors. Hume will succeed Robert M. ("Bob") Dutkowsky, who will
transition to the role of executive chairman of the Board. The
announcement is the culmination of the Board's leadership
succession plan that capitalizes on the strength of the Tech Data
management team.
Hume joined Tech Data in 2016 as executive vice president, chief
operating officer. Since then, he has played a pivotal role in the
creation of the company's long-term strategy. Prior to joining Tech
Data, Hume spent more than thirty years at IBM, holding a variety
of executive positions including general manager and chief
operating officer of Global Technology Services, IBM's $32 billion infrastructure and outsourcing
services business. He also previously served as general manager,
Europe, where he led IBM's
multi-brand European organization, and as general manager, Global
Business Partners for more than three years, directing the growth
and channel development initiatives for IBM's Business Partner
Channel.
"I am honored to have the opportunity to serve as the next CEO
of Tech Data," Hume said. "This is an exciting time for the new
Tech Data, as we continue to redefine technology distribution and
transform the company into the IT distributor of the future. Over
the past two years as COO, I have come to appreciate what a
talented global team we have, and I look forward to leading this
team as we build on our momentum and continue to create value for
our customers, vendor partners, employees and shareholders."
Hume continued, "Bob has provided tremendous leadership during
his tenure as CEO and has been an incredible mentor and friend
since I joined Tech Data. I look forward to continuing to work
closely with Bob in his role as executive chairman and know I will
continue to benefit greatly from his deep knowledge of the company
and the industry."
Charles ("Eddie") Adair, lead independent director of the Tech
Data Board, said, "Today's announcement is the result of a thorough
and thoughtful long-range leadership succession planning process
undertaken by the Board over the past several years. The Board is
confident that our plan provides a natural progression for Tech
Data to continue to grow and thrive. Since joining the company in
2016, Rich has been a key member of our executive team and has
proven himself a strong leader with extensive industry experience
and operational expertise. Importantly, having served as COO, Rich
is intimately familiar with Tech Data's business operations and we
are confident that he is the ideal candidate to succeed Bob as CEO.
We are also thrilled that the company will continue to benefit from
Bob's wealth of experience and strategic guidance as he transitions
to his new role as executive chairman of the Board."
Dutkowsky has served as Tech Data's CEO and a member of the
company's Board of Directors since 2006. In 2017, he was named
chairman of the Board. Under Dutkowsky's leadership, Tech Data has
transformed into a global end-to-end IT distributor with an
offerings portfolio that spans from endpoint devices to the most
advanced data center solutions and next-generation technologies.
During his 12-year tenure, the company's revenues have grown from
$21 billion to more than $36 billion, and non-GAAP earnings per share have
increased by more than 550 percent. As executive chairman,
Dutkowsky, in addition to his governance and board oversight
responsibilities, will be actively involved as a strategic advisor
to Hume, will provide support in vendor, customer and community
engagement as directed by the CEO and will be involved in special
projects as designated by the CEO or Board.
"It has been an honor and a privilege to lead the most talented
team in IT distribution. I would like to thank our more than 14,000
employees for their dedication, loyalty and tireless efforts, which
have been—and will continue to be—the key to Tech Data and our
channel partners' success," Dutkowsky said. "With our strong
operations, unique end-to-end offerings and strategic focus on
next-generation capabilities, I believe this is the perfect time to
make this transition and I am confident that Tech Data is
well-positioned to continue to grow and create value for all of our
stakeholders. As I transition to my new role as executive chairman,
I also want to thank Tech Data's outstanding customers and vendor
partners for their longtime support and look forward to continuing
our strong partnership for years to come."
Dutkowsky continued, "Rich's strategic vision, experience and
proven track record at Tech Data make him a natural choice for CEO
as we enter our next chapter. Today's announcement underscores our
deep bench of talent and, together, we will ensure a seamless
transition for the benefit of all Tech Data stakeholders."
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About Tech Data
Tech Data connects the world with the
power of technology. Our end-to-end portfolio of products, services
and solutions, highly specialized skills, and expertise in
next-generation technologies enable channel partners to bring to
market the products and solutions the world needs to connect, grow
and advance. Tech Data is ranked No. 107 on the Fortune 500® and
has been named one of Fortune's World's Most Admired Companies for
nine straight years. To find out more, visit www.techdata.com or
follow us on Twitter, LinkedIn, and Facebook.
Media Contact
Brian
Kosoy
Director, Corporate Communications
727.299.8865
brian.kosoy@techdata.com
Investor Contact
Arleen
Quinones
Corporate Vice President, Investor Relations and Corporate
Communications
727.532.8866
arleen.quinones@techdata.com
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SOURCE Tech Data