CFO Bill Humes gets chief operating officer promotion
Global distie Ingram Micro has announced a slight drop in sales in the first quarter, raking in $8.72 billion at the start of 2012.
Although sales were one percent lower than at the same point last year, a record first quarter for Ingram Micro, it reported an increase in profits.
Gross profit was up from $467.6 million as compared with $454.1 million at the beginning of 2011, the firm said.
Although Europe saw a year on year decrease in sales, in the UK and Germany sales were actually up compared to the first quarter of 2011.
In the US operating income was up 18 percent, with a three percent increase in sales buoyed by positive HDD pricing. First quarter costs also include $2.5 million costs involved with changing CEOs.
“We will continue to invest in the business to drive even stronger returns through accelerated growth and higher margin products and solutions, while effectively managing our operating expense leverage,” said Bill Humes, who received a promotion yesterday to chief operating and financial officer.
It was announced that Humes would be given more responsibilities, following his previous role overlooking the firm’s finances as CFO.