Monday, March 31, 2008

SYNNEX Announces New Co-CEO

Big in my life is the appointment of Kevin Murai. This is a major coup for SYNNEX. Kevin has a great repuation. He has a huge depth of distribution experieince running a bigger company. He will also have a good North American rolodex which never hurts.

He is a smart guy who knows he is joining a highly successful company so I suspect any changes will happen gradually and with thought.

The press release:

FREMONT, CA-March 31, 2008-SYNNEX Corporation (NYSE: SNX), a leading business process services company, today announced that Kevin M. Murai has been appointed Co-Chief Executive Officer and has been elected to the SYNNEX Board of Directors. In addition to joining the SYNNEX Board of Directors, Mr. Murai has been appointed to the Company’s Executive Committee.

Mr. Murai will share the Chief Executive Officer role with current President and Chief Executive Officer, Bob Huang, and will have co-responsibility for the leadership of the entire SYNNEX organization. As a senior executive with more than 19 years of distribution channel experience, Mr. Murai joins the SYNNEX team with very strong operational and industry experience, as well as established relationships in both the customer and vendor communities.

In November 2008, it is expected that Mr. Huang will retire and, upon approval of the SYNNEX Board of Directors, that he will be named Chairman of the SYNNEX Board with Mr. Murai becoming the sole Chief Executive Officer. As part of this planned transition, Matthew Miau, current SYNNEX Chairman, will remain on the Board of Directors.

"I am very pleased that Kevin will be joining SYNNEX and co-leading the organization with me," said Bob Huang, President and Co-Chief Executive Officer. "With his deep industry knowledge, exceptional operational skills and global management experience, I am quite certain Kevin will quickly integrate into the SYNNEX culture. He is poised to help lead the execution of strategic initiatives designed to improve the business model and diversify our business process service offerings."

“Kevin has a solid reputation and excellent history in the IT supply chain and we welcome him to the management team and Board of Directors of SYNNEX,” stated Matthew Miau, Chairman of SYNNEX Corporation. “We look forward to his leadership in driving additional shareholder value at SYNNEX.”

Before joining SYNNEX, Mr. Murai, was employed for 19 years at Ingram Micro, Inc., most recently as President and Chief Operating Officer, as well as serving on the Ingram Micro Board of Directors. Mr. Murai has a Bachelor of Applied Science degree in Electrical Engineering from the University of Waterloo.

"I am excited to join SYNNEX at this very key time in the history of the organization," stated Mr. Murai. "I look forward to working with Bob to further execute on the strategic vision he has set for the organization as well as working with all the SYNNEX team members, who are well known for their operational excellence and customer and vendor service."

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