Ingram Micro 1999 Annual Report Download - page 4

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Ingram Micro’s 1999 financial results reflect a
revolution in technology and distribution.The technology
industry, like many others today, is transforming itself in
response to our fast-changing world. Ingram Micro is
doing the same. During the year, our company achieved
many successes as the clear leader in our industry.We
also faced many challenges, largely due to dramatic
changes in market conditions, and took actions to
meet those challenges.
In September 1999 we initiated a search for Ingram
Micro’s next chief executive officer to ensure that we have
the best possible team executing our strategies to improve
profitability and pursue new market opportunities. Our
objective was to find someone who has the right
DEAR
experience and track record of implementing change.
Our board of directors did an outstanding job
selecting the right person for the task. In March 2000,
Kent B. Foster was named chief executive officer and
president of Ingram Micro and was elected to our
board of directors. I will continue as chairman until
my retirement on May 17, 2000, at which time Kent
will succeed me as chairman.Also in March, Phil Samper
left our board of directors to focus full time on other
business opportunities. I’d like to extend our many
thanks to Phil for providing his counsel, leadership and
invaluable expertise to the board since October 1996.
Kent is an exceptional leader with a distinguished track
record, including his most recent post as president of
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Ingram Micro
Annual Report