TD Synnex (NYSE: SNX) has announced the upcoming retirement of Duane Zitzner from its board of directors. Zitzner, who has served as a director of TD Synnex since 2007, will retire from the board when his current term of office expires, effective at TD Synnex's 2024 annual meeting of stockholders.
Ann Vezina, chair of the TD Synnex board of directors, expressed gratitude for Zitzner's contributions, stating, "Duane has provided more than 15 years of outstanding leadership and expertise that have helped to transform TD Synnex into the leading technology distributor and solution aggregator it is today. We thank Duane for his commitment to the business and wish him all the best in his retirement."
In response to his retirement, Zitzner remarked, "I have been privileged to work with the TD Synnex directors and executive leadership team during my tenure on the board, and as I move into retirement, I look forward to seeing how the company continues to evolve to connect the global IT ecosystem and unlock its potential for all."
TD Synnex, a leading global distributor and solutions aggregator for the IT ecosystem, aims to maximize the value of technology investments, demonstrate business outcomes, and unlock growth opportunities for its more than 150,000 customers in over 100 countries. The company's 23,500 co-workers are dedicated to uniting compelling IT products, services, and solutions from 1,500+ best-in-class technology vendors. TD Synnex's edge-to-cloud portfolio is anchored in high-growth technology segments including cloud, cybersecurity, big data/analytics, AI, IoT, mobility, and everything as a service.
The company's stock is currently trading at a price of $104.6 per share.
For more information, the company's full 8-K submission is available here.
| 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|---|
| Revenue (MM) | $20,054 | $19,070 | $19,977 | $31,614 | $62,344 | $59,396 |
| Revenue Growth | n/a | -4.91% | 4.76% | 58.25% | 97.2% | -4.73% |
| Operating Margins | 2% | 3% | 3% | 2% | 2% | 2% |
| Net Margins | 1% | 3% | 3% | 1% | 1% | 1% |
| Net Income (MM) | $300 | $501 | $529 | $395 | $651 | $661 |
| Net Interest Expense (MM) | -$46 | -$74 | -$79 | -$158 | -$223 | -$302 |
| Depreciation & Amort. (MM) | $225 | $372 | $342 | $152 | $463 | $422 |
| Earnings Per Share | $7.17 | $9.74 | $10.21 | $6.24 | $6.77 | $6.95 |
| EPS Growth | n/a | 35.84% | 4.83% | -38.88% | 8.49% | 2.66% |
| Diluted Shares (MM) | 41 | 51 | 51 | 63 | 96 | 93 |
| Free Cash Flow (MM) | -$25 | $412 | $1,808 | $770 | -$167 | $1,499 |
| Current Ratio | 1.45 | 1.62 | 1.56 | 1.25 | 1.25 | 1.23 |
| Total Debt (MM) | $3,456 | $3,017 | $1,622 | $4,136 | $4,104 | $4,079 |
| Net Debt / EBITDA | 4.76 | 3.22 | 0.24 | 4.06 | 2.37 | 1.83 |
TD SYNNEX has growing revenues and no capital expenditures, irregular cash flows, and healthy leverage. However, the firm has weak operating margins with a stable trend. Finally, we note that TD SYNNEX has flat EPS growth.
