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TD SYNNEX Corporation (NYSE: SNX) is a Fortune 100 company and a leading global distributor and solutions aggregator for the information technology (IT) ecosystem. The company connects over 2,500 technology vendors with more than 150,000 customers across 100+ countries, offering a wide range of IT hardware, software, and systems. Its portfolio includes advanced solutions for cloud computing, cybersecurity, and artificial intelligence, as well as personal computing devices and peripherals.
- Americas Segment - Distributes IT hardware, software, and systems across North, Central, and South America, serving a diverse range of reseller customers.
- Europe Segment - Provides IT distribution and solutions aggregation services tailored to the European market, focusing on high-growth technologies and verticals.
- Asia-Pacific and Japan (APJ) Segment - Offers IT products and solutions in the APJ region, emphasizing hybrid IT consumption models and advanced analytics.
- Advanced Solutions Portfolio - Focuses on high-growth technologies such as cloud computing, cybersecurity, artificial intelligence, and Internet of Things (IoT).
- Endpoint Solutions Portfolio - Includes personal computing devices, peripherals, and system components, catering to the personal computer ecosystem.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Patrick Zammit ExecutiveBoard | President and Chief Executive Officer | Patrick Zammit serves as the President and Chief Executive Officer of TD SYNNEX Corporation since September 1, 2024. Previously, he held executive roles including Chief Operating Officer from January 1, 2024 to August 31, 2024 and President, Europe and APJ from September 2021 to December 2023. | View Report → | |
David Vetter Executive | Chief Legal Officer and Corporate Secretary | David Vetter is the Chief Legal Officer and Corporate Secretary of TD SYNNEX since September 2021, where he oversees the company’s legal and corporate governance functions. Previously, he served in several executive roles at Tech Data including Executive Vice President, Chief Legal Officer starting in January 2017 and Senior Vice President since March 2003, and he built his legal career as a partner at Robbins, Gaynor & Bronstein from 1984 to 1993. | ||
Dennis Polk Executive | Hyve Solutions Executive | Member of the Board of Directors of Concentrix Corporation; Member of the Board of Directors of Terreno Realty Corporation (Chair, Compensation Committee) | Dennis Polk has been a long‐standing leader at TD SYNNEX, joining in 2002 and serving in roles including CFO, COO, and CEO from March 2018 to September 2021. He has been serving as Hyve Solutions Executive since September 2021, leveraging decades of financial and operational expertise. | |
John Henry Executive | Chief Accounting Officer | John Henry is the Chief Accounting Officer at TD SYNNEX, having joined Tech Data in 2015 and been promoted to Senior Vice President, Chief Accounting Officer in November 2020. He assumed this role for TD SYNNEX following the merger in September 2021 and was later appointed as Principal Accounting Officer in March 2023. | ||
Marshall Witt Executive | Chief Financial Officer (CFO) | Marshall Witt has been the Chief Financial Officer (CFO) at TD SYNNEX Corporation since April 2013. He previously served as Senior Vice President of Finance and Controller at FedEx Freight, Inc. and held financial leadership positions at KPMG LLP and FedEx Corporation, building a strong background in financial management. | ||
Simon Leung Executive | Chief Business Officer | Simon Leung is the Chief Business Officer at TD SYNNEX since September 2021. He previously served as Senior Vice President, General Counsel, and Corporate Secretary from May 2001 to August 2021 and began his career at the company as Corporate Counsel in November 2000. | ||
Ann Vezina Board | Chair of the Board | Chair of the Nominating and Corporate Governance Committee at Concentrix Corporation; Compensation Committee member at Concentrix Corporation | Ann Vezina is currently the Chair of the Board at SNX since September 2023, and has served on its board since February 2017. She previously held the role of Lead Independent Director from September 2021 to August 2023, demonstrating extensive governance experience. | |
Claude Pumilia Board | Board of Directors Member at TD SYNNEX | CEO of Accuris US LLC; Director at Allium Holdco, LLC | Claude Pumilia has served as a Board of Directors member at TD SYNNEX since September 2023 and is a member of the Audit Committee. He is also the CEO of Accuris US LLC since August 2023 and previously served as CEO of DAT Freight and Analytics until February 2023. | |
Kathleen Crusco Board | Member of the Board of Directors and Chair of the Audit Committee | Chair of the Audit Committee at Calix, Inc.; Board member at privately held software companies | Kathleen Crusco has been a Member of the Board of Directors at TD SYNNEX (SNX) since September 2023 and serves as the Chair of the Audit Committee. With over two decades in finance and leadership roles—including positions as CFO, EVP, and COO at companies such as Epicor and Kony—she brings extensive expertise to her role at SNX. | |
Kenneth Lamneck Board | Director Nominee | Director, Benchmark Electronics, Inc.; Director, Fidelity National Information Services | Kenneth Lamneck is a seasoned leader with over 30 years of experience in the IT and electronics industries, having previously served as CEO of Insight Enterprises until 2021. He is set to join TD SYNNEX’s Board of Directors on April 1, 2025, bringing extensive expertise from his active board roles. | |
Merline Saintil Board | Member of the Board of Directors | Lead Independent Director and Chair of the Compensation Committee at Rocket Lab USA, Inc. (since June 2021); Compensation Committee Member at GitLab, Inc. (since October 2020); Chair of the Nominating and Governance Committee at Symbotic, Inc. (since June 2022); Board Member at Evolv Technologies Holdings, Inc. (since January 2021). | Merline Saintil has served as a Board Member at TD SYNNEX (SNX) since September 2021, leveraging her extensive expertise in technology and business operations from previous roles at Intuit Inc. and Change Healthcare Inc.. | |
Nayaki Nayyar Board | Member of the Board of Directors | Board Member at Corteva, Inc. | Nayaki Nayyar is a board member at TD SYNNEX (SNX) since September 2021 and serves as the Chair of the Nominating and Corporate Governance Committee as well as a member of the Compensation Committee. Previously, she held executive leadership positions including CEO of Securonix, Inc. (December 2022 to July 2024) and President at Ivanti, Inc. (May 2020 to October 2022). | |
Ting Herh Board | Member of the Board of Directors at TD SYNNEX | Founder & Chair of Davicom Semiconductor, Inc.; Independent Director at United Integrated Services Co. (UIS); Independent Director at MiTAC Holdings Corp. | Ting Herh is a seasoned IT industry veteran with over 44 years of experience, currently serving as a board member at TD SYNNEX since March 2024. He has also founded and chaired Davicom Semiconductor, Inc. and held key leadership roles at Compaq and Racal, enhancing strategic governance at every step. | |
Robert Kalsow-Ramos | Robert Kalsow-Ramos served as Vice Chair and board member of SNX from September 2021 until his resignation on April 15, 2024, bringing significant expertise in private equity and investment banking. |
- Given that gross margins have been declining due to tough compares in Hyve and ongoing investments, how do you plan to stabilize or improve margins in the Hyve business while continuing to invest in its growth?
- With the elevated geopolitical and macroeconomic uncertainties in Europe, how do you anticipate these factors will impact your growth projections in that region, and what strategies are you implementing to mitigate potential risks?
- Can you elaborate on the balance between pursuing growth and maintaining profitability, especially considering that despite strong revenue growth, margins have been under pressure and operating margins have declined?
- As you continue to invest in Hyve, including manufacturing and engineering capabilities, how confident are you in achieving a satisfactory return on these investments, and what is your plan to manage the lumpiness and unpredictability associated with this business?
- Considering the potential impact of tariffs and uncertainties around them, how are you preparing for possible changes in demand, and are there any anticipations of reseller stocking or other behaviors that might affect your sales cycles?
Competitors mentioned in the company's latest 10K filing.
| Company | Description |
|---|---|
Competes in the Americas market as a distributor in the IT product industry, which is characterized by intense competition based on factors such as product availability, price, and delivery speed. | |
Ingram Micro, Inc. | Operates as a competitor in multiple regions including the Americas, Europe, and APJ, where it serves as an international distributor in the fragmented IT product market. |
Competes in the Americas market as a regional distributor in the IT product industry. | |
A regional competitor in Europe, contributing to the fragmented competitive environment in the IT product distribution market. | |
Esprinet | A regional competitor in Europe, operating in the fragmented IT product distribution market. |
Westcon-Comstor | Competes as an international distributor in both Europe and APJ, contributing to the fragmented competitive environment in these regions. |
VSTECS Holdings Ltd. | A regional distributor in the APJ market, contributing to the fragmented competitive environment in the IT product industry. |
Synnex Technology International Corp. | A separate entity from the company, competing as a regional distributor in the APJ market. |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Tech Data Corporation | 2021 |
Recent press releases and 8-K filings for SNX.
- Non-GAAP Diluted EPS forecast of $11.50-$12.00 and $1.1B in free cash flow underpin medium-term growth aspirations
- Robust free cash flow generation with a capital allocation framework targeting 50-75% of FCF for dividends and share repurchases, underscoring its commitment to returning capital to shareholders
- TD SYNNEX hosted its 2025 Investor Day where top executives presented key strategic growth initiatives and digital transformation plans to strengthen its global IT distribution and market position
- Management emphasized profitable growth by investing in services expansion, digital capabilities, and operational efficiencies to drive medium-term non‐GAAP EPS growth
- Strategic emphasis on geographic expansion, diversified product offerings, and deepened vendor/customer relationships to bolster its market presence
- The event showcased progress in Hyve Solutions, detailing its ODM/CM business profile and strategic investments in AI and liquid cooling technologies to capitalize on rising hyperscale CapEx
- Amendments Approved: At the April 2, 2025 annual stockholders’ meeting, TD SYNNEX Corp approved changes to its Restated Certificate of Incorporation, including the removal of supermajority voting requirements, elimination of obsolete provisions, and limitation on certain officers’ liability.
- Effective Implementation: The amendments, effective upon filing on April 7, 2025, reflect updated governance practices and improved indemnification and insurance provisions.
- TD Synnex reported gross billings of $20.7B growing 7.5% YoY and net revenue of $14.5B, reflecting strong performance across all regions and key technology segments.
- The call noted temporary margin headwinds from Hyve, including a 10 basis point drag and elevated inventory, with expectations for normalization in upcoming quarters.
- Management emphasized digital transformation initiatives, such as the launch of the Digital Bridge app and expansion of the PACE platform, aimed at boosting transaction efficiency and market reach.
- The quarter also featured disciplined cash management, including share repurchases of $101M and a declared dividend of $0.44 per share, supporting shareholder returns.
- Non-GAAP gross billings reached $20.7B, growing 8% y/y as strong performance was driven by advancements in technology solutions.
- GAAP revenue hit $14.5B with operating income of $305M, while the non-GAAP operating margin stood at 2.74% (down 30 bps y/y).
- Diluted EPS results were mixed, with GAAP EPS at $1.98 (up 3% y/y) and non-GAAP EPS at $2.80 (down 6% y/y).
- Revenue reached $14.5 billion in Q1 2025, marking a 4.0% increase over the prior fiscal quarter.
- Non‐GAAP gross billings climbed to $20.7 billion, up 7.5% compared to the previous quarter.
- The company delivered diluted EPS of $1.98 (GAAP) and $2.80 (non‑GAAP), in line with outlook expectations.
- TD SYNNEX also returned $138 million to stockholders through share repurchases and dividends, including a declared quarterly dividend of $0.44 per share.