FREMONT, Calif. & CLEARWATER, Fla. – TD SYNNEX (NYSE: NYSE:SNX), a prominent distributor and solutions aggregator in the IT industry, announced today the appointment of Kristie Grinnell as the new Executive Vice President and Chief Information Officer, set to take her position on January 20, 2025. She will be succeeding Bonnie Smith, who is retiring but will remain until February 1 to assist with the transition.
Grinnell brings to TD SYNNEX a rich background in IT leadership, having previously served as CIO at DXC Technology (NYSE:DXC), where she oversaw an IT organization of over 1,500 employees and contributed to substantial advancements in technology and business integration. Before DXC, Grinnell held the role of Global CIO and Chief Supply Chain Officer at General Dynamics (NYSE:GD) Information Technology, overseeing IT, cybersecurity, supply chain services, and technology shared services.
Patrick Zammit, CEO of TD SYNNEX, expressed gratitude to outgoing CIO Bonnie Smith for her four years of dedication to the company and welcomed Grinnell, highlighting her transformational leadership and the expected enhancement of data-driven customer engagement and operational excellence under her guidance.
Grinnell, an advocate for women in STEM and actively involved with organizations such as Girls Who Code and STEMforHER, holds a Bachelor of Science in Mechanical Engineering from the University of Pittsburgh and an MBA from Cornell University. She will operate from the TD SYNNEX office in Clearwater.
In her statement, Grinnell shared her enthusiasm about joining TD SYNNEX, noting the company's reputation for aiding partners and vendors in leveraging market opportunities. She looks forward to driving innovation and maximizing AI to improve customer engagement and operational processes.
This leadership change comes as TD SYNNEX continues to serve over 150,000 customers across more than 100 countries, uniting IT products, services, and solutions from over 2,500 technology vendors. The company has demonstrated strong financial performance with annual revenue of $57 billion and maintains a healthy P/E ratio of 15.1. InvestingPro subscribers can access 8 additional key insights about TD SYNNEX's performance and prospects, including detailed analysis of its management's share buyback strategy and consistent dividend payments. The company emphasizes its commitment to diversity, corporate citizenship, and sustainable impact on people and the planet.
The information for this article is based on a press release statement.
In other recent news, TD SYNNEX Corp has reported a series of strategic developments. The company has extended its accounts receivable securitization program to November 2026, providing continued liquidity through the sale of receivables to SIT Funding LLC. In addition, TD SYNNEX has completed the acquisition of the cloud migration business from IPsense, a Brazilian cloud solutions provider, aiming to strengthen its cloud capabilities in Brazil. The company also announced the appointment of Tanuj Raja, a former Google (NASDAQ:GOOGL) executive, as the new Senior Vice President for North America Hyperscaler and Marketplace.
Recent financial results from TD SYNNEX show a 9% increase in gross billing and a 5% increase in revenue. However, there has been a slight decline in gross margin due to increased investments in Hyve's capabilities. Both Loop Capital and Goldman Sachs have maintained a Buy rating on TD SYNNEX, with Goldman Sachs projecting an 8% increase in revenue growth for the company in fiscal 2025.
TD SYNNEX has also made significant amendments to its corporate bylaws, adjusting the voting threshold required for the board and shareholders to adopt, amend, or repeal bylaws. These updates highlight recent developments in TD SYNNEX's strategic growth plans and its focus on enhancing value across multiple technology categories. The company expects Q4 gross billings to range between $20.5 billion and $21.5 billion, with a projected non-GAAP diluted EPS of $2.80 to $3.30.
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