Tech Data’s Rich Hume On Distributor’s Role In The Cloud And IoT: Exclusive
Rich Hume, Tech Data CEO, told CRN in an exclusive conversation that he expects fiscal 2020, which started Feb. 1, to be a good year as the distributor’s offerings related to digital transformation, such strategic areas as cloud, security, analytics, IoT, and services, become drivers not only of growth for Tech Data but also for the platforms on which solution providers can meet compelling customer requirements.
When Tech Data early this month reported its fourth fiscal quarter and full fiscal year 2019 financials, everything looked pretty good, including operating income, EPS growth, and revenue growth. For investors, however, the loudest part of the financial report was the unveiling of first quarter 2020 expectations that fell slightly below analysts’ expectations, leading to a sell-off of the company’s shares, which recovered slightly the following day.