Insight Enterprises: Labor Day Roast
Talk about getting burned on Barbecue Day. Insight Enterprises Inc., a well-known IT solutions provider, handed CEO and President Richard Fennessy a pink slip on Sept 7. Here’s the scoop.
According to Phoenix Business Journal:
Citing a need to focus on internal operations and organic growth, co-founder and Chairman Tim Crown said the board agreed to the move and begin a global search for a new chief executive. “It was with this focus that the board determined that now is the right time to make a change in the CEO position,” he said.
The story gets extra interesting because former Tech Data executive Anthony Ibarguen has emerged as Insight’s interim president and CEO. Ibarguen has served on Insight’s board for the past year, the Phoenix Business Journal reported. Hmmm…. Will Ibarguen become permanent CEO? Speculation has started on ChannelWeb.
Oh, and don’t weep too long for Fennessy. He will be paid about $4.5 million in severance, plus an undetermined amount from any potential 2009 bonuses on a pro-rated basis, the Phoenix Business Journal reported. Not a bad Labor Day, after all.