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    CDW Corp (CDW)

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    CDW Corporation is a Fortune 500 company and a leading multi-brand provider of information technology (IT) solutions to a diverse range of customers, including small, medium, and large businesses, government, education, and healthcare sectors in the United States, United Kingdom, and Canada . The company's offerings span discrete hardware and software products to integrated IT solutions and services, which include on-premise and cloud capabilities across hybrid infrastructure, digital experience, and security . CDW is vendor, technology, and consumption model unbiased, providing a broad selection of products and multi-branded solutions .

    1. Hardware - Offers a wide range of physical IT products, including computers, networking equipment, and data storage solutions.
    2. Software - Provides various software products, including operating systems, productivity applications, and enterprise software solutions.
    3. Services - Delivers IT services that encompass consulting, implementation, and managed services to support customer IT environments.
    4. Corporate Segment - Serves US private sector businesses with more than 250 employees, offering tailored IT solutions and services.
    5. Public Segment - Caters to government agencies, education, and healthcare institutions, providing specialized IT solutions and services.
    6. Small Business Segment - Focuses on US businesses with up to 250 employees, delivering IT products and services suited to smaller enterprises.
    7. Other (UK and Canada Operations) - Includes operations in the UK and Canada, offering a similar range of IT solutions and services as in the US.
    NamePositionExternal RolesShort Bio

    Christine A. Leahy

    ExecutiveBoard

    Chair, President, and CEO

    Board Member at Target Corporation, Northwestern Memorial Hospital, Junior Achievement of Chicago, Brightpoint, The Economic Club of Chicago, Corporate Leadership Center.

    Joined CDW in 2002; became CEO in January 2019 and Chair in January 2023. Previously served as Chief Revenue Officer and Chief Legal Officer.

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    Albert J. Miralles

    Executive

    SVP and Chief Financial Officer

    None reported.

    Joined CDW in September 2021. Previously served as EVP and CFO at CNA Financial Corporation.

    Christina M. Corley

    Executive

    President, International and Vice Chair

    None reported.

    Joined CDW in 2011; transitioned to current role in October 2024. Previously served as Chief Commercial and Operating Officer and Senior VP, Corporate Sales.

    Frederick J. Kulevich

    Executive

    SVP, General Counsel, Corporate Secretary, and Interim Chief People Officer

    None reported.

    Joined CDW in 2006; became General Counsel in 2017 and Interim Chief People Officer in November 2023. Previously served as VP and Deputy General Counsel.

    Liz Connelly

    Executive

    Chief Commercial Officer

    None reported.

    Joined CDW in 2018. Recently promoted to CCO, overseeing U.S. sales, sales enablement, integrated technology solutions, and digital velocity.

    Anthony R. Foxx

    Board

    Independent Director

    Board Member at Martin Marietta Materials, Inc., NXP Semiconductors N.V.; Advisory Board Member at AutoTech Ventures; Director at The Volcker Alliance.

    Joined CDW's Board in 2021. Former U.S. Secretary of Transportation and Chief Policy Officer at Lyft.

    David W. Nelms

    Board

    Lead Independent Director

    Executive Board Member at University of Florida Foundation, Board Member at Conserving Carolina and JDRF T1D Fund.

    Joined CDW's Board in 2014; became Lead Independent Director in January 2023. Former CEO of Discover Financial Services.

    Donna F. Zarcone

    Board

    Independent Director

    Board Member at Cigna Corporation, Duchossois Capital Management, Quinnox Inc.; Advisory Board Member at The University of Chicago Polsky Center; National Board Member at Smithsonian Institution.

    Joined CDW's Board in 2011. Former CEO of The Economic Club of Chicago and Harley-Davidson Financial Services.

    James A. Bell

    Board

    Independent Director

    Board Member at Apple Inc..

    Joined CDW's Board in 2015. Retired EVP, Corporate President, and CFO of Boeing.

    Joseph R. Swedish

    Board

    Independent Director

    Board Member at IBM Corporation, Mesoblast Limited (Chair), Centrexion Therapeutics Corporation; Board of Visitors at Duke University’s Fuqua School of Business.

    Joined CDW's Board in 2015. Former Chairman, President, and CEO of Anthem, Inc..

    Kelly J. Grier

    Board

    Independent Director

    Board Member at Illinois Tool Works Inc., Booking Holdings Inc.; Senior Advisor at Permira; Board Member at Zendesk, Inc., Global Forest Generation, Peterson Institute for International Economics.

    Joined CDW's Board in July 2023. Former US Chair and Managing Partner (CEO) of Ernst & Young LLP.

    Lynda M. Clarizio

    Board

    Independent Director

    Board Member at Emerald Holding, Inc., Intertek Group plc, Taboola.com Ltd., Simpli.fi Holdings, Inc., Cambri Oy, Human Rights First.

    Joined CDW's Board in 2015. Co-founder of The 98, a venture fund investing in women-led tech businesses.

    Marc E. Jones

    Board

    Independent Director

    Chairman, President, and CEO of Aeris Communications, Inc.; Board Member at Ingersoll Rand Inc.; Trustee at Stanford University; Chairman of Stanford Health Care.

    Joined CDW's Board in January 2023. Extensive experience in the technology industry, including leadership roles at Visionael Corporation and Madge Networks.

    Sanjay Mehrotra

    Board

    Independent Director

    President and CEO of Micron Technology, Inc.; Board Member at Stanford Health Care; Engineering Advisory Board Member at UC Berkeley.

    Joined CDW's Board in 2021. Co-founder of SanDisk and current CEO of Micron Technology.

    Virginia C. Addicott

    Board

    Independent Director

    Board Member at Element Fleet Management Corp., Akron Children’s Hospital (Chair), Kent State University Foundation, Smithers-Oasis Company.

    Joined CDW's Board in 2016. Retired CEO of FedEx Custom Critical.

    1. Given the continued slow demand for networking and server solutions over the past three quarters, what specific strategies is CDW implementing to stimulate growth in these areas, and do you foresee any signs of recovery in the near term?
    2. With a solid pipeline but challenges in conversion due to customer uncertainty, how does CDW plan to accelerate pipeline conversion to revenue, and what are your expectations for improved demand conditions, especially considering the macroeconomic environment?
    3. In light of recent cybersecurity incidents like the CrowdStrike debacle, how has this affected CDW's relationships with security vendors and customers, and what impact do you anticipate on your cybersecurity business growth trajectory?
    4. Considering the worsening market conditions in the U.K. and ongoing federal funding challenges, how are these factors impacting CDW's overall performance, and what measures are you taking to mitigate these risks and achieve your growth targets?
    5. As customers, particularly in the SMB and mid-market segments, accelerate their shift toward cloud solutions over on-premise upgrades, how is CDW adapting its business model to address this trend, and what impact do you expect on your traditional hardware and infrastructure sales?
    Program DetailsProgram 1
    Approval DateFebruary 7, 2024
    End Date/DurationN/A
    Total additional amount$750 million
    Remaining authorization amount$733.5 million as of September 30, 2024
    DetailsThe program allows CDW Corporation to repurchase shares of its common stock in various transactions based on market conditions and other factors. It does not obligate the company to repurchase any minimum amount and can be modified, suspended, or discontinued at any time.
    YearAmount Due (in millions)Debt TypeInterest Rate (%)% of Total Debt
    2024183.5 Senior Notes5.500 3.3% = (183.5 / 5,607.5) * 100
    2025211.1 Senior Notes4.125 3.8% = (211.1 / 5,607.5) * 100
    20261,634.5 Term Loan Facility & Senior Notes2.670 29.2% = (1,634.5 / 5,607.5) * 100
    20281,100.0 Senior Notes4.250 & 3.276 19.6% = (1,100.0 / 5,607.5) * 100
    2029700.0 Senior Notes3.250 12.5% = (700.0 / 5,607.5) * 100
    2030600.0 Senior Notes5.100 10.7% = (600.0 / 5,607.5) * 100
    20311,000.0 Senior Notes3.569 17.8% = (1,000.0 / 5,607.5) * 100
    2034600.0 Senior Notes5.550 10.7% = (600.0 / 5,607.5) * 100

    Competitors mentioned in the company's latest 10K filing.

    CompanyDescription

    This company is part of the peer group index used for cumulative total shareholder return comparison. It was selected based on criteria such as similar size in terms of revenue or enterprise value, operating in a business-to-business distribution environment, being a member of the technology industry, and having similar customers, margins, or international sales.

    This company is included in the peer group index for cumulative total shareholder return comparison. It was chosen based on factors like comparable revenue or enterprise value, operating in a business-to-business distribution environment, and being identified as a competitor.

    This company is part of the peer group index for shareholder return comparison, selected due to its similar size, business-to-business distribution model, and identification as a competitor.

    Included in the peer group index for shareholder return comparison, this company was selected based on criteria such as similar revenue size, operating in a business-to-business environment, and being identified as a competitor.

    This company is part of the peer group index for cumulative total shareholder return comparison, chosen for its similar size, business model, and identification as a competitor.

    This company is included in the peer group index for shareholder return comparison, selected for its similar size, business-to-business distribution model, and identification as a competitor.

    This company is part of the peer group index for cumulative total shareholder return comparison, chosen based on its similar size, business model, and identification as a competitor.

    Included in the peer group index for shareholder return comparison, this company was selected for its similar size, business-to-business distribution model, and identification as a competitor.

    This company is part of the peer group index for cumulative total shareholder return comparison, chosen for its similar size, business model, and identification as a competitor.

    Included in the peer group index for shareholder return comparison, this company was selected based on its similar size, business-to-business distribution model, and identification as a competitor.

    This company is part of the peer group index for cumulative total shareholder return comparison, chosen for its similar size, business model, and identification as a competitor.

    Included in the peer group index for shareholder return comparison, this company was selected based on its similar size, business-to-business distribution model, and identification as a competitor.

    This company is part of the peer group index for cumulative total shareholder return comparison, chosen for its similar size, business model, and identification as a competitor.

    Included in the peer group index for shareholder return comparison, this company was selected based on its similar size, business-to-business distribution model, and identification as a competitor.

    This company is part of the peer group index for cumulative total shareholder return comparison, chosen for its similar size, business model, and identification as a competitor.

    Included in the peer group index for shareholder return comparison, this company was selected based on its similar size, business-to-business distribution model, and identification as a competitor.

    This company is part of the peer group index for cumulative total shareholder return comparison, chosen for its similar size, business model, and identification as a competitor.

    NameStart DateEnd DateReason for Change
    Ernst & Young LLP2011 PresentCurrent auditor

    Notable M&A activity and strategic investments in the past 3 years.

    CompanyYearDetails

    Mission Cloud Services

    2024

    CDW acquired Mission Cloud Services to expand its cloud, AI, and automation capabilities through its Digital Velocity Group, enhancing its full-stack IT solutions and value-added managed services, particularly for small and medium-sized businesses.

    Locus Recruiting

    2023

    CDW completed the acquisition of Locus Recruiting in February 2023 to double its talent orchestration business, providing flexible and scalable technology resource consulting that boosts capabilities in networking, cloud, and security, though the deal was relatively small in financial impact.

    Enquizit

    2023

    The acquisition of Enquizit in 2023 allowed CDW to enhance its Digital Velocity team by integrating specialized AWS cloud migration and application modernization services for the government, education, and not-for-profit sectors using a proprietary automation tool, with a minor financial impact.

    Sirius Computer Solutions

    2021

    CDW completed the $2.5 billion cash acquisition of Sirius Computer Solutions on December 2, 2021, significantly bolstering its capabilities in hybrid infrastructure, security, cloud, and managed services through enhanced service and solutions, supported by a structured financing deal involving senior notes.

    No recent press releases or 8-K filings found for CDW.