|By PR Newswire||
|February 12, 2013 04:15 PM EST||
SANTA ANA, Calif., Feb. 12, 2013 /PRNewswire/ -- Ingram Micro Inc. (NYSE: IM), the world's largest technology distributor and a global leader in IT supply-chain, mobile device lifecycle services and logistics solutions, today announced that Jac Currie, 48, a 25-year veteran of the telecommunication and mobility industry and a former executive of BrightPoint for 14 years, has been appointed president of Ingram Micro Europe Mobility, effective Feb. 18, 2013. He will report to Shailendra Gupta, global head of Ingram Micro's Mobility business and senior executive vice president and president, Ingram Micro Asia Pacific.
Currie will replace Anurag Gupta, current president of Ingram Micro Europe Mobility, who has resigned to pursue personal interests. Gupta will work with Currie through his departure on March 31, 2013, to help ensure continuity and a seamless transition.
"Jac is a well-respected executive in the mobility industry, and his extensive industry experience in the mobile sector, business development and strategy suits him ideally for this role," said Shailendra Gupta. "He has significant industry experience and is intimately familiar with the mobility and telecommunications partners, vendors and customers around the globe. During his time with BrightPoint, Jac was a driving force behind establishing and growing the company's businesses in the Middle East, Africa and Asia. He also has considerable experience with the European operations and, as such, is positioned to quickly reestablish with that team. I am confident he will immediately benefit this highly important European region and build on Anurag's good work, driving additional profitable growth throughout the region."
"I'm excited about joining Ingram Micro Mobility and returning to the industry," commented Currie. "We have an excellent business in Europe and significant opportunity to drive meaningful cost and revenue synergies under the recent combination of Ingram Micro and BrightPoint. I look forward to getting to work and I am confident that our team can increase our contribution to the performance of the overall group."
"We appreciate Anurag's service over the past 10 years," Gupta added. "He did a good job reorganizing the European team and initiating the move into logistics, providing benefits we expect to continue to reap for many years to come."
Currie was most recently executive vice president and chief information officer of BrightPoint, where he was responsible for the development and execution of the global information technology strategy from 2006 until May 2012, when he decided to leave the company to relocate his family to the U.K. From 2006 to 2007, he served as president of emerging markets for BrightPoint, during which time he expanded the company's presence in Africa, the Middle East, Eastern Europe and South East Asia helping to drive revenues in the region. Currie was also instrumental in the acquisition and subsequent integration of Dangaard Telecom AS, a former competitor. Currie joined BrightPoint in 1998 as regional managing director of the Middle East business, responsible for expansion into Southeast Asia. In 2002, he oversaw a management buy-out of BrightPoint's operations across the Middle East and Africa and entered into a joint venture with BrightPoint to establish BrightPoint India.
Prior to his tenure with BrightPoint, Currie served in roles with Islacom Philippines, Spectrum Communications in East Africa and Millicom International Cellular.
Cautionary Statement for the Purpose of the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995
The matters in this press release that are forward-looking statements are based on current management expectations. Certain risks may cause such expectations to not be achieved and, in turn, may have a material adverse effect on Ingram Micro's business, financial condition and results of operations. Ingram Micro disclaims any duty to update any forward-looking statements. Important risk factors that could cause actual results to differ materially from those discussed in the forward-looking statements include, without limitation: (1) we have made and expect to continue to make investments in new businesses and initiatives, including acquisitions, which could disrupt our business and have an adverse effect on our operating results; (2) we are dependent on a variety of information systems, which, if not properly functioning, or unavailable, could adversely disrupt our business and harm our reputation and earnings; (3) changes in macro-economic conditions may negatively impact a number of risk factors which, individually or in the aggregate, could adversely affect our results of operations, financial condition and cash flows; (4) we continually experience intense competition across all markets for our products and services; (5) we operate a global business that exposes us to risks associated with conducting business in multiple jurisdictions; (6) our failure to adequately adapt to IT industry changes could negatively impact our future operating results; (7) terminations of a supply or services agreement or a significant change in supplier terms or conditions of sale could negatively affect our operating margins, revenue or the level of capital required to fund our operations; (8) substantial defaults by our customers or the loss of significant customers could have a negative impact on our business, results of operations, financial condition or liquidity; (9) changes in, or interpretations of, tax rules and regulations, changes in the mix of our business amongst different tax jurisdictions, and deterioration of the performance of our business may adversely affect our effective income tax rates or operating margins and we may be required to pay additional taxes and/or tax assessments, as well as record valuation allowances relating to our deferred tax assets; (10) changes in our credit rating or other market factors such as adverse capital and credit market conditions or reductions in cash flow from operations may affect our ability to meet liquidity needs, reduce access to capital, and/or increase our costs of borrowing; (11) failure to retain and recruit key personnel would harm our ability to meet key objectives; (12) we cannot predict with certainty what loss we might incur as a result of litigation matters and contingencies that we may be involved with from time to time; (13) we may incur material litigation, regulatory or operational costs or expenses, and may be frustrated in our marketing efforts, as a result of environmental regulations or private intellectual property enforcement disputes; (14) we face a variety of risks in our reliance on third-party service companies, including shipping companies for the delivery of our products and outsourcing arrangements; (15) changes in accounting rules could adversely affect our future operating results; and (16) our quarterly results have fluctuated significantly. We also face a variety of risks associated with our recently completed acquisition of Brightpoint, Inc., Aptec and Promark, including: management's ability to execute its plans, strategies and objectives for future operations, including the execution of integration plans; growth of the mobility industry, the government contracts business, and in new and untapped markets in geographies outside the U.S.; and other uncertainties or unknown, underestimated and/or undisclosed commitments or liabilities; and our ability to achieve the expected benefits and manage the costs of the integrations of recent acquisitions.
Ingram Micro has instituted in the past and continues to institute changes to its strategies, operations and processes to address these risk factors and to mitigate their impact on Ingram Micro's results of operations and financial condition. However, no assurances can be given that Ingram Micro will be successful in these efforts. For a further discussion of significant factors to consider in connection with forward-looking statements concerning Ingram Micro, reference is made to Item 1A Risk Factors of Ingram Micro's Annual Report on Form 10-K for the fiscal year ended Dec. 31, 2011, and Form 10-Q for the fiscal quarter ended Sept. 29, 2012; other risks or uncertainties may be detailed from time to time in Ingram Micro's future SEC filings.
About Ingram Micro Inc.
Ingram Micro is the world's largest wholesale technology distributor and a global leader in IT supply-chain, mobile device lifecycle services and logistics solutions. As a vital link in the technology value chain, Ingram Micro creates sales and profitability opportunities for vendors and resellers through unique marketing programs, outsourced logistics and mobile solutions, technical support, financial services and product aggregation and distribution. The company is the only global broad-based IT distributor, serving 145 countries on six continents with the world's most comprehensive portfolio of IT products and services. Visit www.ingrammicro.com.
SOURCE Ingram Micro Inc.
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