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Ingram Micro Appoints Tenured Global Technology Executive Ernest Park As Chief Information Officer
In his new role, Park will be responsible for Ingram Micro's worldwide information and business systems and will lead an information technology organization that supports hundreds of thousands of transactions per day through operations on five continents. Reporting to Ingram Micro chief executive officer Alain Monié, Park will become a member of the worldwide executive team and officer of the corporation.
Park brings to Ingram Micro nearly 30 years of information technology and shared services leadership experience in industries including computer, distribution, retail and diversified manufacturing. He has a proven record of creating business value and driving best practices across large and complex organizations through business and IT transformation, process re-engineering, supply chain management, six sigma, shared service implementation, e-business initiatives, managed services, outsourcing and off-shoring.
Monié commented, "Ernie has an excellent track record in transforming business performance for multi-national organizations through technology and efficiency. His extensive background in IT strategy and his years of successful leadership will help ensure the continuity and successful implementation of the objectives we have put in place to drive productivity across our core distribution business while further executing on our strategic initiatives in faster growing and higher margin businesses. We are confident that Ernie will take our company to new levels of performance for our customers, our partners and our associates and we are fortunate to welcome him to our organization at this pivotal period in our growth."
Park was most recently vice president and chief information officer for 3M Corporation, where he was responsible for the corporate-wide information technology organizations supporting a leading diversified global technology company with operations in 72 countries and 85,000 employees. Among his many accomplishments at 3M, Park oversaw significant business and IT transformation initiatives leveraging common business processes, standardized master data and architecture/portfolio rationalization globally. Prior to joining 3M in 2008, Park served as senior vice president and chief information officer at Select Comfort Corporation since 2006. From 2000 to 2006, he served as senior vice president and chief information officer for Maytag Corporation. He previously led the global information technology infrastructure and shared services applications organizations as vice president and chief information officer of Global Business Services at AlliedSignal, and later with Honeywell International, following AlliedSignal's acquisition of Honeywell in 1999. Park also served in roles of increasing responsibility at Avnet Inc. from 1980 to 1996, culminating in his role as corporate vice president, technology services.
Park earned both his Bachelor's degree in Mathematics and Computer Science, and his M.B.A., from the University of California in Los Angeles. He served on the Customer Advisory Board of Hewlett Packard, Sprint, Cognizant and Orange, as well as on the Board of Governors for Engineering School of St. Thomas University.
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, including statements relating to the expected benefits of acquisitions and the financial performance of the combined company, 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 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, or if we experience system security breaches, data protection breaches or other cyber-attacks, 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 losses we may 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 acquisitions and any other acquisitions we may make, including: management's ability to execute its plans, strategies and objectives for future operations, including the execution of integration plans, and to realize the expected benefits of our acquisitions; 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 our 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 seek 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. 29, 2012; other risks or uncertainties may be detailed from time to time in Ingram Micro's future SEC filings.
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