ScanSource, Inc. (NASDAQ: SCSC), the leading international value-added
distributor of specialty technology products, today announced the
restructuring of its Communications business unit in Europe to support a
pan-European strategy for profitable growth. The restructuring includes
new leadership and also provides cost savings from the elimination of
positions and the centralization of support services.
In support of this new structure, ScanSource has named Rudy De Meirsman
as Managing Director for ScanSource Europe Communications, a
newly-created position. Mr. De Meirsman is responsible for implementing
a pan-European strategy for the Communications business unit and leading
a focused, dynamic team. He reports to Buck Baker, Interim President of
ScanSource Europe.
Mr. De Meirsman joined ScanSource in 2010 and previously served as the
Senior Director of Merchandising for ScanSource’s Communications
business unit in Europe. He has over 20 years of experience in
technology distribution, including sales and marketing leadership
positions with Plextor Europe and distributor Tech Data.
“Rudy has proven himself as a leader with the experience we need to take
the next step in our Communications business in Europe. These moves will
provide focused leadership and operational efficiencies, as we continue
to implement our pan-European strategy to serve our key partners,
including Avaya, Extreme, LifeSize, and ShoreTel,” said Baker.
The restructuring includes the elimination of positions to set the cost
structure in line with current operations and move to more global shared
support services. The organizational structure provides focused business
unit leadership, as well as dedicated merchandising, sales and technical
support teams, at a scale for profitable growth. In addition, ScanSource
will move certain European support functions to centralized global teams
in the United States to gain efficiencies.
The annualized cost savings in connection with the restructuring,
principally associated with the elimination of positions, are estimated
to be approximately $3.1 million. The Company expects to incur
approximately $1.2 million in associated one-time costs, which include
related severance expenses, during the quarter ending March 31, 2013.
“ScanSource continues to adapt our business model to better address the
changing demands of the global marketplace. The new scale of our
operations fits with our present vendor and sales opportunities, while
positioning us for future expansion as we add to our vendor portfolio
and pan-European geographic reach,” said Mike Baur, Chief Executive
Officer of ScanSource, Inc. “This strategy will allow us to be more
efficient, while positioning our Communications business unit in Europe
for profitable growth.”
Safe Harbor Statement
This press release contains comments that are “forward-looking”
statements that involve risks and uncertainties; these statements are
subject to the safe harbor created by the Private Securities Litigation
Reform Act of 1995. Any number of important factors could cause actual
results to differ materially from anticipated or forecasted results,
including, but not limited to, factors affecting costs and efficiencies
expected to be associated with the Company’s pan-European strategy and
macroeconomic circumstances that could impact the strategy and business
independent of the new structure created by the company. For more
information concerning factors that could cause actual results to differ
from anticipated results, see the Company's periodic reports on Form
10-K and Form 10-Q. Except as may be required by law, the company
expressly disclaims any obligation to update these forward-looking
statements to reflect events or circumstances after the date of this
press release or to reflect the occurrence of unanticipated events.
About ScanSource, Inc.
ScanSource, Inc. (NASDAQ:SCSC) is the leading international distributor
of specialty technology products, operating from dedicated business
units in North America, Latin America and Europe. ScanSource POS &
Barcode delivers AIDC (automatic identification and data capture) and
POS (point-of-sale) solutions; Catalyst Telecom and ScanSource
Communications provide voice, video, data and converged communications
equipment; ScanSource Security offers physical security solutions; and
ScanSource Services Group delivers value-added support programs and
services. Founded in 1992, the company ranks #760 on the Fortune 1000.
For more information, call the toll-free sales telephone number at
800.944.2432 or visit www.scansourceinc.com.