SANTA ANA, Calif., Nov. 15, 2012 /PRNewswire/ -- Ingram Micro Inc.
(NYSE: IM), the world's largest technology distributor and a global
leader in IT supply-chain, mobile device lifecycle services and
logistics solutions, today announced that Paul Bay, 42, an 18-year veteran of the
information technology industry and current executive vice
president of Ingram Micro North America, has been promoted to
acting president of Ingram Micro North America, effective
immediately. He will report to Alain Monié, president and
chief executive officer, Ingram Micro Inc.
Bay will replace Keith Bradley,
current senior executive vice president and president of Ingram
Micro North America, who will step down from that position at the
end of this year, at which time Bay will become senior executive
vice president and president, Ingram Micro North America. Bradley
will remain with the company through March
1, 2013, to assist Bay during this time and to help ensure
continuity and a seamless transition.
"Paul is a respected and talented executive, with a track record
of guiding operations to new levels of excellence," said
Monié. "Under his leadership, he organized the North American
commercial, corporate and advanced solutions groups into efficient,
growing and highly profitable divisions. Bay knows the region
extremely well and brings to his new role an ideal mix of
experience in managing both large, complex operations as well as
entrepreneurial start-ups. This is a highly important region
for Ingram Micro and we're confident in his ability to build on
Keith's good work and drive additional profitable growth throughout
the region."
"I appreciate the board's and Alain's confidence in me and I'm
excited about taking the reins of our North American operations,"
commented Bay. "North America is
operating well and executing on its financial and strategic goals
and I am confident we will continue to deliver on our performance
objectives."
"We thank Keith for his significant contributions to Ingram
Micro's North American operations," Monié added. "Under his
leadership, the team streamlined regional operations, strengthened
the performance of the region and drove strategic investments that
have resulted in increased profitability through a greater mix of
sales of higher-margin products and services. Keith leaves a
legacy that will benefit our organization for years to come, and we
wish him well in his future endeavors."
"I have the utmost respect for Ingram Micro's leadership team
and fully support the direction of the company," said
Bradley. "The team in North
America is outstanding, and together we have capitalized on
many opportunities to improve the business. I have worked with
Paul for several years and am confident in his ability to lead the
North American team and further build on our successful
execution."
Bay joined Ingram Micro's U.S. sales organization in 1995 and
quickly progressed through roles of increasing responsibility with
the company. In 2006, Bay left his position as senior vice
president of vendor management at Ingram Micro to become chief
executive officer of Punch Software, based in Kansas City, Mo. Bay returned to Ingram
Micro in June 2010 to assume the
position of executive vice president, with responsibilities for the
company's North American partner-facing activities and Canadian
operations. Bay was the chief architect behind the development of a
divisional business unit structure in North America, which has led to greater
efficiency and productivity, as well as increased revenue growth
and profitability, for the region.
Cautionary Statement for the Purpose of the Safe Harbor
Provisions of the Private Securities Litigation Reform Act of
1995
The matters in this press release that are forward-looking
statements are based on current management expectations. Certain
risks may cause such expectations to not be achieved and, in turn,
may have a material adverse effect on Ingram Micro's business,
financial condition and results of operations. Ingram Micro
disclaims any duty to update any forward-looking statements.
Important risk factors that could cause actual results to differ
materially from those discussed in the forward-looking statements
include, without limitation: (1) we have made and expect to
continue to make investments in new businesses and initiatives,
including acquisitions, which could disrupt our business and have
an adverse effect on our operating results; (2) we are dependent on
a variety of information systems, which, if not properly
functioning, or unavailable, could adversely disrupt our business
and harm our reputation and earnings; (3) changes in macro-economic
conditions may negatively impact a number of risk factors which,
individually or in the aggregate, could adversely affect our
results of operations, financial condition and cash flows; (4) we
continually experience intense competition across all markets for
our products and services; (5) we operate a global business that
exposes us to risks associated with conducting business in multiple
jurisdictions; (6) our failure to adequately adapt to IT industry
changes could negatively impact our future operating results; (7)
terminations of a supply or services agreement or a significant
change in supplier terms or conditions of sale could negatively
affect our operating margins, revenue or the level of capital
required to fund our operations; (8) substantial defaults by our
customers or the loss of significant customers could have a
negative impact on our business, results of operations, financial
condition or liquidity; (9) changes in, or interpretations of, tax
rules and regulations, changes in the mix of our business amongst
different tax jurisdictions, and deterioration of the performance
of our business may adversely affect our effective income tax rates
or operating margins and we may be required to pay additional taxes
and/or tax assessments, as well as record valuation allowances
relating to our deferred tax assets; (10) changes in our credit
rating or other market factors such as adverse capital and credit
market conditions or reductions in cash flow from operations may
affect our ability to meet liquidity needs, reduce access to
capital, and/or increase our costs of borrowing; (11) failure to
retain and recruit key personnel would harm our ability to meet key
objectives; (12) we cannot predict with certainty what loss we
might incur as a result of litigation matters and contingencies
that we may be involved with from time to time; (13) we may incur
material litigation, regulatory or operational costs or expenses,
and may be frustrated in our marketing efforts, as a result of
environmental regulations or private intellectual property
enforcement disputes; (14) we face a variety of risks in our
reliance on third-party service companies, including shipping
companies for the delivery of our products and outsourcing
arrangements; (15) changes in accounting rules could adversely
affect our future operating results; and (16) our quarterly results
have fluctuated significantly. We also face a variety of
risks associated with our recently completed acquisition of
Brightpoint, Inc., including: management's ability to execute its
plans, strategies and objectives for future operations, including
the execution of integration plans; growth of the mobility
industry; uncertainties relating to litigation; and other unknown,
underestimated and/or undisclosed commitments or liabilities;
and our ability to achieve the expected benefits and manage the
costs of the transaction.
Ingram Micro has instituted in the past and continues to
institute changes to its strategies, operations and processes to
address these risk factors and to mitigate their impact on Ingram
Micro's results of operations and financial condition. However, no
assurances can be given that Ingram Micro will be successful in
these efforts. For a further discussion of significant factors to
consider in connection with forward-looking statements concerning
Ingram Micro, reference is made to Item 1A Risk Factors of Ingram
Micro's Annual Report on Form 10-K for the fiscal year ended
December 31, 2011 and Form 10-Q for
the fiscal quarter ended September 30,
2012; other risks or uncertainties may be detailed from time
to time in Ingram Micro's future SEC filings.
About Ingram Micro Inc.
Ingram Micro is the world's
largest wholesale technology distributor and a global leader in IT
supply-chain, mobile device lifecycle services and logistics
solutions. As a vital link in the technology value chain, Ingram
Micro creates sales and profitability opportunities for vendors and
resellers through unique marketing programs, outsourced logistics
and mobile solutions, technical support, financial services and
product aggregation and distribution. The company is the only
global broad-based IT distributor, serving 145 countries on six
continents with the world's most comprehensive portfolio of IT
products and services. Visit www.ingrammicro.com.
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SOURCE Ingram Micro Inc.