SYNNEX Corporation (NYSE:SNX), a leading business process services
company, today announced that, in accordance with SYNNEX’ Chief
Executive Officer succession plan and effective December 1, 2008, Robert
T. Huang will retire as President and Co-Chief Executive Officer of
SYNNEX Corporation to assume the role of Chairman of the Board of
Directors. In addition, the Board of Directors appointed Kevin M. Murai
as President and Chief Executive Officer of SYNNEX Corporation and
elected Mr. Murai to serve as the Chairman of the Executive Committee.
Matthew Miau will remain on the Board of Directors and has been named
Chairman Emeritus.
"Over the past several months, Kevin has clearly demonstrated his strong
leadership capabilities and expertise in running SYNNEX. I am very
pleased to hand over the reins of the Company to Kevin to lead SYNNEX to
its next phase of growth as a leading business process services
company,” said Robert T. Huang, Chairman of SYNNEX Corporation.
"I am honored that Bob Huang and the Board of Directors have appointed
me to lead SYNNEX in this very key time in the history of the
organization,” stated Kevin M. Murai, President and Chief Executive
Officer of SYNNEX Corporation. "I look forward to working with Bob and
the Board to further execute on the strategic vision Bob set forth for
the organization as well as working with all the SYNNEX team members,
who are well known for their operational excellence and customer
service.”
About SYNNEX
SYNNEX Corporation, a Fortune 500 corporation, is a leading business
process services company, servicing resellers and original equipment
manufacturers in multiple regions around the world. The Company provides
services in IT distribution, supply chain management, contract assembly
and business process outsourcing. Founded in 1980, SYNNEX employs over
7,000 associates worldwide and operates in the United States, Canada,
China, Japan, Mexico, the Philippines and the United Kingdom. Additional
information about SYNNEX may be found online at www.synnex.com.
Safe Harbor Statement
Statements in this press release regarding SYNNEX Corporation which are
not historical facts are "forward-looking statements” within the meaning
of Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934. These forward-looking statements may be
identified by terms such as believe, expect, may, will, could and should
and the negative of these terms or other similar expressions. These
statements, including statements regarding the transition of Mr. Huang
to Chairman and Mr. Murai to President and Chief Executive Officer, are
subject to risks and uncertainties that could cause actual results to
differ materially from those discussed in the forward-looking
statements. These risks and uncertainties include, but are not limited
to: the integration of new management, general economic conditions and
any weakness in IT spending; the loss or consolidation of one or more of
our significant OEM suppliers or customers; market acceptance and
product life of the products we assemble and distribute; competitive
conditions in our industry and their impact on our margins; pricing,
margin and other terms with our OEM suppliers; variations in our levels
of excess inventory and doubtful accounts and changes in the terms of
OEM supplier-sponsored programs; changes in our costs and operating
expenses; changes in foreign currency exchange rates; risks associated
with our international operations; uncertainties and variability in
demand by our reseller and contract assembly customers; supply shortages
or delays; any termination or reduction in our floor plan financing
arrangements; credit exposure to our reseller customers, and negative
trends in their businesses; any future incidents of theft; risks
associated with our contract assembly business; risks associated with
the consolidation, integration and performance of our recent
acquisitions and other risks and uncertainties detailed in our SEC
filings, including our Form 10-Q for the fiscal quarter ended August 31,
2008. In light of these risks and uncertainties, there can be no
assurance that the results referred to in the forward-looking statements
contained in this press release will occur. Statements included in this
press release are based upon information known to SYNNEX Corporation as
of the date of this release, and SYNNEX Corporation assumes no
obligation to update information contained in this press release.
Copyright 2008 SYNNEX Corporation. All rights reserved. SYNNEX, the
SYNNEX Logo and all other SYNNEX company, product and services names and
slogans are trademarks or registered trademarks of SYNNEX Corporation.
SYNNEX and the SYNNEX Logo Reg. U.S. Pat. & Tm. Off. Other names and
marks are the property of their respective owners.