Sergey Nivens - Fotolia
By submitting your personal information, you agree that TechTarget and its partners may contact you regarding relevant content, products and special offers.
The channel player, which runs the Misco, WStore amd Inmac brands in EMEA, has revealed its Q4 numbers, for the three months ended 31 December, which saw a drop the year-on-year performance in its EMEA Technology Products Group.
Sales decreased by 8% to $285.9m in Q4 and by 11% to $1bn in the technology operation across EMEA for the full year. Despite those numbers the reseller’s senior management talked up the progress that had been made in the last 12 months.
“In EMEA, our new leadership team is executing on its turnaround strategy and has implemented a number of operational improvements which led to the overall business having a solid fourth quarter, delivering local currency revenue growth and significantly decreasing its operating loss,” said Systemax chairman and CEO Richard Leeds.
“In the U.K. we have recently recruited a number of experienced sales professionals and anticipate improved sales and performance levels,” he added.
The changes in the EMEA management structure began to gather momentum at the start of last year when the region’s chief executive Pim Dale exited the firm. He was replaced by former Insight staffer Simon Taylor who is masterminding the improvement in the European market.
At the same time as revealing the results, which saw the overall sales for Systemax increase by 2% in Q4 to $465.8m and operating income improve from $2.4m to $2.9m year-on-year, the firm also revealed a CEO succession plan.
From tomorrow Larry Reinhold, the CFO, will take on the additional responsibilities of being president and CEO. The plan is for someone to come in and replace him in the finance department.
Leeds is moving into an executive chairman role and will be responsible for shaping the long-term direction of the firm and the development of new products and services.