CLEARWATER, Fla.--(BUSINESS WIRE)--Jan. 18, 2006--Tech Data
Corporation (NASDAQ:TECD) today announced plans to expand its senior
management team by splitting the executive roles of Chairman of the
Board and Chief Executive Officer and initiating a CEO search. Steven
A. Raymund will remain as Chairman and CEO until the new CEO is
appointed, at which time he will continue as Chairman of the Board.
Raymund joined Tech Data in 1981 and became CEO in 1986.
"It's an ideal time to further enhance the depth and strength of
our senior leadership," commented Raymund. "The future is very
encouraging for IT distribution and our company going forward. Proven,
highly experienced leaders are in place overseeing our Americas and
EMEA regions, and we have exceptional financial management and
operational expertise throughout the organization. We are confident
that we will select a CEO who will continue advancing our strong
position as an international market leader."
The CEO search is being conducted by Tech Data's Board of
Directors with the assistance of Charles Tribbett and Andrea Redmond
of the executive search firm Russell Reynolds Associates. "Steve
Raymund has built a tremendous organization at Tech Data," said John
Y. Williams, Chairman of the Governance and Nominating Committee of
Tech Data's Board of Directors. "Steve's experience, perspective and
industry acumen will greatly benefit the company as he continues in
the role of Chairman."
About Tech Data
Founded in 1974, Tech Data Corporation (NASDAQ:TECD) is a leading
distributor of IT products, with more than 90,000 customers in over
100 countries. The company's business model enables technology
solution providers, manufacturers and publishers to cost-effectively
sell to and support end users ranging from small-to-midsize businesses
(SMB) to large enterprises. Ranked 110th on the FORTUNE 500(R), Tech
Data generated $19.8 billion in net sales for its fiscal year ended
January 31, 2005. For more information, visit http://www.techdata.com.
CONTACT: Tech Data Corporation, Clearwater
Jeffery P. Howells, 727-538-7825
Jeff.Howells@techdata.com
or
Danyle Anderson, 727-538-7866
Danyle.Anderson@techdata.com
SOURCE: Tech Data Corporation
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