Tech Data announces a change in leadership, as COO Richard T. Hume takes the reigns of the company after current CEO Bob Dutkowsky steps down from his position after over a decade in charge.
Hume assumes the CEO position-- a "culmination of the board's leadership succession plan," as the distributor puts it-- on 6 June 2018. In turn, Dutkowsky becomes executive chairman of the board.
"I am honored to have the opportunity to serve as the next CEO of Tech Data," Hume says. "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. 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."
Hume joined Tech Data in 2016 as executive VP, COO. Prior to Tech Data he had a tenure of over 30 years at IBM, holding a range of positions including general manager and COO of Global Technology Services, general manager of the IBM European wing and, most recently, general manager of Global Business Partners.
The change in Tech Data leadership follows a Q4 2017 deemed disappointing by investors. However the year did see revenues rise by 40%, if through the acquisition of rival Avnet Technology Solutions.
