Target Components MD leaves for greener pastures
Michael Lawrence said this was the right time for him to take on a new challenge
Michael Lawrence is set to leave Yorkshire-based distributor Target Components on Friday, after being the head of the company for three years.
He announced his departure on LinkedIn.
“It has been my honour to work with the fabulous people here over the last three years and I am genuinely sad to leave such as amazing team,” the MD wrote.
“I am proud of what we achieved, and I will forever be a supporter of this fantastic business.”
Lawrence added that “this is the right time for me to take on a new challenge and I will be straight into that next week.”
Responding to a request for comment from CRN, Lawrence shared a note sent to Target’s partners earlier today, stating that a new MD will be appointed in due course.
“[Paul Cubbage] and [Ian Prescott] are leading the recruitment process and there are conversations ongoing with some really talented people, so watch this space.
“We will announce the appointment once the process is complete.”
In the note, the leaving leader emphasised that he has “loved being part of Target’s story, but as the business moves forward, it is time for someone else to explore the opportunities and lead the next chapter.”
He joined the company as managing director in March 2022, as he wanted “to run a business and embrace all the accountability and responsibility that brings.”
One of his first acts in the role was to steer Target into employee ownership three months after stepping up to MD.
In practice, this meant that majority ownership was transferred to the employees, who would also need to be consulted “on important matters, such as acquisitions and partnerships.”
The move was intended to “show the world that [Target is] about actions, not words,” according to the MD.
He took over from former MD Cubbage, who had been in the seat since 2001.
Lawrence previously worked for diverse organisations, such as security, AV and low-voltage products distributor ADI, professional services company Capita, multi-channel distributor EVO Group, as well as electronic components, solutions, and products distributor Farnell.
CRN met with Lawrence in September 2024 during Target Open Day, the firm’s trade event for IT resellers and professionals, which he described as an opportunity “to add value to the vendors who take the time to come and present what they’ve got to customers who take their time to come and listen.”
Target ranks number 30 in CRN’s Distributors You Need to Know list.
Lawrence joined Manchester-based distie COP UK on 4 March as managing director.
The article has been updated to add Lawrence’s note to partners and new role at COP UK.