Ingram Micro Inc. appointed Paul Read the president and COO.
This move means that Alain Monie has dropped the president’s title settling for just CEO. Read will report to Monie and will be responsible for the worldwide IT distribution business and the associated logistics support organizations, with the IT distribution regional presidents reporting directly to him.
Read joined the the distributor’s board of directors last September and with this new position resigned his board membership immediately.
Adding a new president was not the only change to Ingram leadership. Bill Humes, the company’s CFO will add responsibility for global shared services centers and strategic sourcing operations to his list of duties.
Monie said that Read is an experienced operator and seasoned executive and Ingram is fortunate to have him join the team. It is believed that Read’s extensive background in the IT supply chain will help Ingram strive to drive growth and greater returns across all its business lines.
“These changes will allow me to devote more time to new and future strategic growth opportunities,” Monie said. “Paul, Bill and I, with the rest of the executive team, are focused on improving profitability and delivering better shareholder returns.”
From June 1995 to June 2013, Read was Flextronics Inc. serving most recently as CFO and executive vice president, responsible for managing all aspects of finance and IT. Previously he served as the company’s executive vice president of finance for worldwide operations. Read’s experience at Flextronics included operational roles, including serving as the lead executive responsible for the integration of the Solectron acquisition. Prior to joining Flextronics in 1995, he held various senior financial positions in the U.K. with Allied Steel and Wire, STI Telecommunications and Associated British Foods.
There is also a Canadian connection here. Ingram Micro also announced that its board of directors elected Wade Oosterman, the president, mobility and residential services, and chief brand officer for Bell Canada Enterprises Inc. (BCE), to serve as an independent director. With the resignation of Read, the composition of the Ingram Micro board of directors remains at 11.
Oosterman, 52, joined BCE in 2006 as president of Bell Mobility and Chief Brand Officer. Prior to joining BCE, Ooterman’s served in senior executive leadership roles including chief marketing officer and chief brand officer for Telus Corp. In 1987, Oosterman helped found Clearnet Communications, a wireless provider that was acquired by Telus in 2000.
