Insight CEO Lamneck retires after more than 10 years with the reseller

Lamneck has overseen massive growth during his time at the company

Insight CEO Ken Lamnech has announced his retirement from the $8.3bn-revenue VAR giant for the end of this year.

Lamneck, 66, who has been with the company since 2010, will continue his roles as president, CEO and as a member of the board until a successor is found before transitioning to an advisory role.

Over his 12 years with the company, it has seen its sales grow from $4.1bn in 2009 to $8.3bn in 2020 as the business expanded both organically and through acquisitions.

Over that same period, Insight's share price has increased from $11.42 to more than $100 a-share, an almost 800 per cent increase.

Insight's share price fell by more than eight per cent as the news was announced yesterday.

"It has been my greatest professional honour to lead this amazing company, to work alongside our incredible teammates around the world, to join forces with our partners and to serve our clients," Lamneck said.

"We have a strong management team and I believe now is the right time to start transitioning the leadership of the company."

The reseller's board has engaged an executive search to identify and evaluate potential successors from internal and external candidates, with Lamneck assisting the company's search process.

Across his time with the company, Insight has won several awards including Fortune's World's Most Admired Companies, Forbes' Best Employers for Diversity, Best Employers for Veterans, and a Great Place to Work in multiple geographies around the world.

"While Ken is leaving big shoes to fill, the organisation and management team he has built will serve us well as we look for his replacement and continue the transformation of Insight," Tim Crown, chairman of the board and one of the company's founders, said.

"I am happy to confirm that Ken will be with us during and after the search process to ensure a successful transition."