Tech Data doyen Steve Raymund to retire

Doug Woodburn
clock • 2 min read

Man who built Tech Data from the ground up will not stand for re-election as a board member in June, distributor announces

The man who built Tech Data from a "side business" into a global distribution empire is to retire as its chairman of the board in June.

Steve Raymund, who built the broadliner from the ground up, passed the CEO reins to incumbent Robert Dutkowsky in 2006 but stayed on in the capacity of chairman.

He will not stand for re-election as a board member and will retire at the end of his term on 7 June, with Dutkowsky becoming chairman, Tech Data announced last night.

The announcement comes a month after Tech Data closed its $2.7bn acquisition of Avnet's Technology Solutions business.

Raymund reportedly bought Tech Data from his father, Edward Raymund, for $10,000 in 1984, 10 years after it was founded as a reseller of data processing supplies. At the time it was still regarded as a "side business", and had only just moved into wholesale distribution.

Raymund joined the Florida-based outfit in 1981, and was made chief executive in 1986, the same year Tech Data went public.

Tech Data turned over $26.2bn in its last financial year ending 31 January 2017, and currently sits at position 108 in the Fortune 500.

The announcement is the culmination of a "very well-planned succession process" that has been in the works for several years, according to Tech Data's lead independent director Charles Adair.

"Tech Data has been an important part of my life since I joined the company that my father founded, and its growth and evolution into a global leader have been nothing short of remarkable," said Raymund. "I have been fortunate to work with some of the most outstanding people in the industry in my time at Tech Data. Bob's exceptional leadership over the past 10 years has led the company to new heights, and I am confident that Tech Data is well positioned for continued success."

Dutkowsky added: "Steve's contributions to Tech Data are immeasurable. He has left an indelible mark on our company, our industry and our community, and Tech Data would not be the company it is today without his foresight and visionary leadership."

You may also like

People

Peter Russell to integrate and lead German reseller’s Novosco operations in Ireland the Northern Ireland

clock 07 December 2020 • 2 min read

People

Jeremy Keefe has been appointed as the VAD’s UC business’ new chief executive

clock 12 October 2020 • 1 min read

People

Mullen departed Dell after over 20 years with the vendor earlier this year

clock 21 September 2020 • 1 min read

Sign up to our newsletter

The best news, stories, features and photos from the day in one perfectly formed email.

More on People

Channel veteran Smee pops up as CEO of cloud analysis vendor

Channel veteran Smee pops up as CEO of cloud analysis vendor

Grahame Smee, best known for his serial M&A success in the security distribution space, is looking to work with channel partners after taking the reins at Opexx Ltd

Sara Yirrell
clock 11 January 2024 • 2 min read
Former UKFast founder and CEO found guilty of rape in Manchester court

Former UKFast founder and CEO found guilty of rape in Manchester court

Following allegations of raping two women, Lawrence Jones was found guilty in court today

Andrea Gaini
clock 23 November 2023 • 1 min read
Women in Tech Festival: Keynote speaker, Rupal Patel, on addressing the visibility gap

Women in Tech Festival: Keynote speaker, Rupal Patel, on addressing the visibility gap

For ex-intelligence analyst, Rupal Patel, the visibility gap for women in tech is as much a systemic issue as it is an individual one

CRN
clock 19 September 2023 • 3 min read

Highlights

Staff & Salaries 2022

Staff & Salaries 2022

A snapshot of pay and headcount trends in the UK channel

Doug Woodburn
clock 09 March 2022 • 1 min read
Midwich CEO on Nimans acquisition, 2021 results and return to pre-pandemic levels

Midwich CEO on Nimans acquisition, 2021 results and return to pre-pandemic levels

Stephen Fenby talks to CRN after Midwich’s 2021 results in which profitability exceeded pre-pandemic levels

Josh Budd
clock 08 March 2022 • 3 min read
4 more vendors suspend sales in Russia following Ukraine invasion

4 more vendors suspend sales in Russia following Ukraine invasion

IBM and Microsoft are among a number of vendors which have also announced that they will halt sales in Russia following the invasion of Ukraine.

clock 08 March 2022 • 3 min read