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INGRAM MICRO APPOINTS CHIEF FINANCIAL OFFICER WORLDWIDESANTA ANA, Calif., Oct. 16, 1996 "We are very excited that Mike agreed to join the Ingram Micro team," said Jerre L. Stead, chairman and CEO of Ingram Micro. "We interviewed approximately a dozen very qualified candidates for this crucial position. During this interview process, however, we concluded that we already had the most qualified candidate among us in Mike Grainger, who has been performing the duties the last several months." Stead continued, "Mike knows our company and the distribution industry well. He has an excellent relationship with the financial community, and he has the respect and full support of our management. This is a great move for our company." Grainger added, "I look forward to joining Ingram Micro's very talented financial management group. While the CFOs of Ingram Micro's various geographic regions will continue to report to their respective presidents, the entire financial group will work closely together as a team." For the past six years, Grainger has served as vice president and controller of Nashville, Tenn.-based Ingram Industries and has had financial oversight responsibility for Ingram Micro during that time. Prior to that, he worked for Sullivan Graphics Inc. as chief financial officer of its Book Group. From 1980 to 1986, Grainger served as chief financial officer of Coble Systems Inc., a common carrier and truck leasing company in Nashville. After assisting in the sale of the company in 1986, he worked in the mergers and acquisitions business until 1989. Grainger earned a bachelor of science degree in accounting from the University of Montevallo, Alabama, and is a certified public accountant. Reporting to Grainger will be James F. Ricketts, vice president and treasurer; Eric Sigman, vice president of corporate planning and development; Ken Miltimore, vice president and controller international; Kimmerly W. Strohm, senior director of investor relations; and Bruce Esworthy, senior director of internal audit. Ingram Micro Inc., headquartered in Santa Ana, Calif., is the world's largest wholesale distributor of technology products and services, with 1995 sales of $8.617 billion. Worldwide sales for the first two quarters of 1996 totaled $5.543 billion The company operates in 19 countries and distributes more than 36,000 products to over 100,000 resellers in 120 countries. |
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Ingram Micro, Inc. |