A former IBM partner chief has secured the top job at Tech Data as current CEO Bob Dutkowsky prepares to relinquish the reins after more than a decade in charge.
Tech Data's current COO, Rich Hume (pictured), will assume the CEO post on 6 June 2018, as Dutkowsky steps back to the role of executive chairman of the board.
Tech Data billed the announcement as the "culmination of the board's leadership succession plan that capitalises on the strength of the Tech Data management team".
Hume only joined Tech Data in 2016, but will be a well-known face in the channel, with his 30-year tenure at Big Blue including stints as GM of Global Business Partners and GM for Europe.
News of his appointment comes after Tech Data's Q4 results disappointed investors. Its annual revenues last year rose 40 per cent to $36.8bn following its acquisition of rival Avnet Technology Solutions.
Charles 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."
During Dutkowsky's 12 years as CEO, Tech Data's revenues have swelled from $21bn to over $36bn, with its non-GAAP earnings per share vaulting by over 550 per cent.
"It has been an honour 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.
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