FREMONT, Calif. & CLEARWATER, Fla. - Hau Lee, a member of the Board of Directors at TD SYNNEX (NYSE: NYSE:SNX), is set to retire at the company's 2025 Annual Meeting of Stockholders, marking the end of his tenure which began in 2012. Lee's departure was announced today, with the company recognizing his contributions to its growth and success over the years.
Ann Vezina, Chair of the TD SYNNEX Board of Directors, expressed gratitude for Lee's "invaluable leadership and expertise" and wished him well in his retirement. Lee reflected on his time with TD SYNNEX, stating his honor in working with the company's directors and executive leadership team and his anticipation to see the company's continued innovation and industry leadership after his departure.
Lee's career is distinguished by his academic and industry contributions. He is the Thoma Professor of Operations, Information and Technology at Stanford University's Graduate School of Business and serves as Co-Director of the Stanford Value Chain Innovation Initiative. His accolades include election to the National Academy of Engineering of the U.S., and he is recognized as a Fellow by several prestigious operations and management societies. Lee also co-founded DemandTec, Inc. and holds board positions at Silvaco Group, Inc. and Lion Rock Group Limited.
TD SYNNEX, a global IT distributor and solutions aggregator with annual revenue of $58.45 billion and a market capitalization of $11.38 billion, supports over 150,000 customers across more than 100 countries. The company prides itself on uniting IT products, services, and solutions from around 2,500 technology vendors, focusing on high-growth segments such as cloud, cybersecurity, big data/analytics, AI, IoT, mobility, and everything as a service. With a workforce of over 23,000, TD SYNNEX aims to have a positive impact on its employees and the planet, striving to be a diverse and inclusive employer within the IT ecosystem. InvestingPro data reveals the company has maintained dividend payments for 12 consecutive years and offers a strong free cash flow yield, demonstrating solid financial management. For detailed insights and additional ProTips about TD SYNNEX's financial health and growth prospects, investors can access the comprehensive Pro Research Report available on InvestingPro.
This announcement is based on a press release statement from TD SYNNEX. The company has not provided further details on Lee's successor or the transition plan following his retirement. The information contained in this article is a reflection of the facts presented in the press release and does not include speculation or endorsement of the company's claims.
In other recent news, TD Synnex has been making significant strides in the financial sector with its Q4 performance. The company outperformed Q4 estimates, reporting an adjusted earnings per share of $3.09, which surpassed the consensus estimate of $3.06. Furthermore, TD Synnex reported revenue of $15.84 billion, beating analysts' projections of $15.25 billion. This success was primarily attributed to a 10% YoY rise in Q4 revenue, driven by growth in both its Advanced Solutions and Endpoint Solutions portfolios.
Analysts from Loop Capital and Raymond (NS:RYMD) James have maintained positive ratings on TD Synnex, with Raymond James analyst Adam Tindle raising the price target to $150. Looking forward, TD Synnex expects Q1 revenue to fall between $14.4 billion and $15.2 billion, compared to the $14.76 billion consensus. The company also forecasted Q1 adjusted EPS of $2.65 to $3.15, versus analyst estimates of $2.95. Amid these developments, TD Synnex continues to demonstrate strong financial health, keeping investors interested in its future performance.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.