Ingram Micro officially checkmarked the “closed” box on the historic $6 billion HNA deal today.
And, with that comes a newly formed board and some senior leadership changes.
For the first time in its history Ingram Micro will have a woman as its chief financial officer. Company CEO Alain Monie promoted Gina Mastantuono to CFO.
Mastantuono was recently honored by the National Diversity Council as one of the Top 50 Most Powerful Women in Technology.
Monie described her as an invaluable addition to Ingram Micro since joining in early 2013. Mastantuono spearheaded the distributor’s global finance transformation that included upgrades to its global financial systems, centralizing finance activities and improving analytical capabilities.
Mastantuono replaces the outgoing Bill Humes, who has been the CFO for the past 18 years. Humes is transitioning to an executive management board spot. He is also going to serve as director and member of the audit committee for 3D Systems Corp.
Mastantuono was not the only new appointment. Larry Boyd, Ingram’s executive vice president and general counsel announced his retirement after 17 years at the company.
Ingram has replaced him with Augusto Aragone, who is also being promoted to take over corporate legal responsibilities. Aragone is an expert in complex mergers and acquisitions and finance transactions that included the HNA deal.
HNA’s CEO Adam Tan will be the chair of a brand new board at Ingram. The new board will be made up of Ingram Micro former CFO Humes, Boyd (prior EVP, general counsel), Monié, Bharat Bhise, President and CEO of Bravia Capital; Dale Laurance, who recently served as Chairman of Ingram Micro’s public company board; and Jim McGovern, former Under Secretary and Acting Secretary of the United States Air Force.
“This is truly a momentous day for all of us and our collective future has never looked brighter,” Monie said.
No other structural changes were announced by Ingram and the company will continue to operate as a standalone entity based in Irvine, Calif.
Today’s closure ends a roller coaster 10 months for Ingram Micro after it announced the HNA Group deal in February of this year. It also signals the next chapter in Ingram’s journey. Monie added there is more the distributor can do and he wants to set a new bar for the organization along with accelerating the career paths of its employees.
Dell EMC worldwide channel chief John Byrne, commented on the Ingram/HNA deal. He told CDN that the Ingram partnership with HNA will be good for the industry. “We want to be attacking the market with the distributors that we work with, but we want to be growing even faster,” he said.
Bryne added he hopes distributors such as Ingram bring to target services specifically product services. He describes this as “a pot of gold” for everyone involved.