Richard Hume as been appointed as the new CEO of Tech Data, with Bob Dutkowsky transitioning to the role of executive chairman of the board.
Hume, currently executive vice president and chief operating officer, will take charge effective 6 June, two years after joining the business from IBM.
“This is an exciting time for the new Tech Data, as we continue to redefine technology distribution and transform the company into the IT distributor of the future,” Hume said.
“Over the past two years as COO, I have come to appreciate what a talented global team we have, and I look forward to leading this team as we build on our momentum and continue to create value for our customers, vendor partners, employees and shareholders.”
Prior to joining Tech Data, Hume spent more than 30 years at IBM, holding a variety of executive positions including general manager and chief operating officer of Global Technology Services, IBM's US$32 billion infrastructure and outsourcing services business.
In addition, the industry veteran also previously served as general manager of Europe, where he led the vendor’s multi-brand European organisation, and as general manager of Global Business Partners for more than three years, directing the growth and channel development initiatives for Big Blue’s channel ecosystem.
“Since joining the company in 2016, Rich has been a key member of our executive team and has proven himself a strong leader with extensive industry experience and operational expertise,” Tech Data independent director of the board, Charles Adair, added.
“Importantly, having served as COO, Rich is intimately familiar with Tech Data's business operations and we are confident that he is the ideal candidate to succeed Bob as CEO.
“We are also thrilled that the company will continue to benefit from Bob's wealth of experience and strategic guidance as he transitions to his new role as executive chairman of the board.”
According to Adair, the announcement is the result of a “thorough and thoughtful long-range leadership succession” planning process undertaken by the board over the past several years.
“The board is confident that our plan provides a natural progression for Tech Data to continue to grow and thrive,” he added.
Dutkowsky has served as Tech Data's CEO and a member of the company's board of directors since 2006, and was named chairman of the board in 2017.
“It has been an honour and a privilege to lead the most talented team in IT distribution,” Dutkowsky added.
“I would like to thank our more than 14,000 employees for their dedication, loyalty and tireless efforts, which have been—and will continue to be—the key to Tech Data and our channel partners' success.”
Under Dutkowsky's leadership, Tech Data has grown into a global end-to-end IT distributor with an offerings portfolio that spans from endpoint devices to data centre solutions and next-generation technologies.
During his 12-year tenure, the company's revenues have grown from US$21 billion to more than US$36 billion, and non-GAAP earnings per share have increased by more than 550 per cent.
“With our strong operations, unique end-to-end offerings and strategic focus on next-generation capabilities, I believe this is the perfect time to make this transition and I am confident that Tech Data is well-positioned to continue to grow and create value for all of our stakeholders,” Dutkowsky added.
“As I transition to my new role as executive chairman, I also want to thank Tech Data's outstanding customers and vendor partners for their longtime support and look forward to continuing our strong partnership for years to come.”
As executive chairman, Dutkowsky, in addition to his governance and board oversight responsibilities, will be “actively involved” as a strategic advisor to Hume, providing support in vendor, customer and community engagements.
"Bob has provided tremendous leadership during his tenure as CEO and has been an incredible mentor and friend since I joined Tech Data,” Hume added.
“I look forward to continuing to work closely with Bob in his role as executive chairman and know I will continue to benefit greatly from his deep knowledge of the company and the industry.”