TD Synnex announces CEO transition

TD Synnex (NYSE: SNX) has announced a leadership transition, with Patrick Zammit set to take over as the company's Chief Executive Officer effective September 1, 2024, succeeding Rich Hume. Hume, who joined the company as COO in 2016 and became CEO in 2018, will retire following what has been described as a transformative tenure.

Zammit, who has been serving as the company’s Chief Operating Officer since January 2024, will step into the role of CEO, bringing with him a wealth of experience and a proven track record of driving growth and operational excellence. His previous roles at Avnet saw him in various management positions, culminating as the global president of the technology solutions division.

Under Hume's leadership, the company embarked on a period of significant growth and transformation, including the acquisition of Avnet TS and the successful merger of Tech Data and Synnex. The company's focus under Hume's leadership was on empowering employees, fostering an inclusive environment, and building a company with a purpose beyond financial success.

TD Synnex, a leading global distributor and solutions aggregator for the IT ecosystem, aims to maximize the value of technology investments for its 150,000+ customers in over 100 countries. The company's portfolio includes high-growth technology segments such as cloud, cybersecurity, big data/analytics, AI, IoT, mobility, and everything as a service.

The board of directors expressed deep gratitude to Rich Hume for his contributions and leadership and extended best wishes to him in his retirement. The incoming CEO, Patrick Zammit, expressed his honor in succeeding Hume and his commitment to building on the strong foundation laid out by his predecessor. The market has reacted to these announcements by moving the company's shares -1.3% to a price of $131.1. For the full picture, make sure to review TD SYNNEX's 8-K report.

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