Top Operational Position Reinstated to Further Enhance Global Operations and Support Profitable Growth
SANTA ANA, Calif., Jan. 4 /PRNewswire/ -- Ingram Micro Inc. (NYSE:IM)
, the largest global wholesale provider of technology products and services, today announced the promotion of Michael J. Grainger, 48, to president and chief operating officer of its worldwide operations from his current position as executive vice president and chief financial officer.
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"Mike has demonstrated a clear understanding of the key business drivers and has proven his value in developing our global operations," said Kent B. Foster, chairman and chief executive officer, Ingram Micro Inc. "Mike has provided leadership for 10 years with Ingram Micro, and he has the right skills to accelerate continued improvement in our operating performance and expand Ingram Micro's global market position."
As president and chief operating officer, Grainger will provide overall direction for Ingram Micro's global operations to implement strategies, drive best practices and support profitable growth throughout the company. The company's five regional presidents will report to Grainger. He will continue to report to Foster.
"Last year Ingram Micro's regional business units provided great leadership in delivering innovative logistics and distribution services to our customers and vendor partners, and at the same time made significant improvements in profitability," Grainger said. "Our regional presidents are a strong team of professionals and I look forward to spending more of my time as a support and a resource for them."
Serving as Ingram Micro's chief financial officer since May 1996, Grainger led the company through its initial public offering (IPO) and facilitated global expansion to extend its lead as the largest global information technology (IT) distribution company. From 1990 to 1996, Grainger served as vice president and controller for Ingram Micro's former parent company, Ingram Industries Inc., with financial oversight responsibilities for Ingram Micro and other business units owned by the company.
Prior to Ingram Industries, Grainger was chief financial officer of Coble Systems, a common carrier and truck leasing company. After orchestrating the sale of Coble Systems in 1986, Grainger continued as a mergers and acquisitions consultant until 1989. He began his 27-year career as a certified public accountant, working with Price Waterhouse from 1973 to 1980. Grainger graduated in 1973 with a bachelor of science from the University of Montevallo in Alabama.
The company has initiated an immediate search for a new chief financial officer, and Grainger will retain these responsibilities until a replacement is named.
About Ingram Micro Inc.
Ingram Micro Inc. is the largest global wholesale provider of technology solutions, products and services. The company operates in 34 countries with sales exceeding $30 billion for the past four reported quarters. Ingram Micro's global regions offer e-commerce solutions, logistics services, and technology product distribution and marketing to more than 175,000 technology solution providers and manufacturers. The company is focused on maximizing shareowner value and achieving customer satisfaction by continuously innovating the IT supply chain. Visit http://www.ingrammicro.com/.
Ingram Micro and the registered Ingram Micro logo are trademarks used under license by Ingram Micro Inc.
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Source: Ingram Micro Inc.
Contact: Jennifer Marchetta of Ingram Micro Inc., 714-382-1403,
jennifer_marchetta@ingrammicro.com; or Lisa Falcetti, ext. 234,
lisa_falcetti@benjamingroup.com, or Carrie Brooks, ext. 239,
carrie_brooks@benjamingroup.com, both of Benjamin Group/BSMG, 949-260-1300,
for Ingram Micro Inc.
Website: http://www.ingrammicro.com/