Jerre Stead

Picture of Jerre Stead Jerre's 35 year career has left a legacy of management turnarounds and performance successes that are the stuff of business legends.

Jerre Stead is currently Chairman and CEO of Ingram Micro, Inc., the world's leading wholesale distributor of computer related products. Prior to joining this thriving company with excellent short and long-term prospects, Stead presided over an initial public offering that grossed Ingram Micro, Inc. over $414 million.

Since his arrival in 1996, Jerre:
Increased net income by 53 percent (1997).
Led the executive team that introduced Ingram Micro, Inc. to the investment community before its 1996 IPO.
Expanded Ingram Micro, Inc.'s global presence by acquiring distributors in the U.S., Latin America, Europe and Asia Pacific.
Increased sales by 38 percent (1997).
Focused more resources and executive attention on growing market segments such as channel assembly, electronic commerce and computer-telephony integration.
Initiated the "Partners In Excellence" program to establish a vision, mission and values system for the sprawling company and devote two weeks of training to every employee annually.

In 1995, Stead took over as Chairman and CEO at Legent Corporation. At the time, it was a $500 million software company that was enduring growing pains and low stock price after a significant expansion period. His appointment as chairman and CEO spurred a one-week, 10-point increase in Legent's stock price to $38 per share.

Although one of his "shorter" assignments, Stead was able to:
Develop a strategic investment and divestiture plan, approved by the board, to move company forward.
Streamline entire company to create clearer lines of responsibility.
Form global alliances with strategic vendors.
Engineer Legent's $1.8 billion sale to Computer Associates Inc., which at the time was the world's largest software acquisition.

In 1993, Jerre transitioned within AT&T to become Chairman and CEO of AT&T Global Information Systems (NCR), where he stayed at the helm until 1995.

While there, his turnaround skills featured:
Turning $220 million in losses in one year into $2 million operating profit the second.
Increasing revenues 21 percent and orders 23 percent in less than two years.
Raising sales per employee from $130,000 to $220,000 in one year.
Raising customer satisfaction scores 30 percent between 1993 and 1994.
Focusing company in developing and selling customer solutions in five vertical markets.
Completing downsizing of more than 8,000 people and divested eight businesses.
Dedicating 10 percent of GIS workforce - 4,500 employees - to customer service.

**Here's the Financial recap**
	1993	1994
Sales	$7.26 billion	$8.46 billion
Operating Income	-251 million	$2 million

From 1991-1993, Stead was President and CEO of AT&T Global Business Communication Systems (now Lucent Technologies). He was hired to turn around AT&T's switching and telephone equipment manufacturing unit, which had lost $5 billion in the six years before his arrival.

During his two years at the helm, he:
Turned AT&T GBCS around to $100 million in annual profits.
Increased sales by employee by 35 percent.
Introduced 15 major new products.
Grew international business from $70 million to more than $500 million.
Improved associate satisfaction by 55 percent.

Before joining AT&T, Stead was hired as President and COO of Square D. He later became Chairman, President and CEO. He inherited a company with a good customer base and solid market share, but stagnant sales and revenues. By the time France's Groupe Schneider bought Square D in 1991, Stead strengthened the company through new sales strategies, cutting unproductive overhead, investing in training and focusing the business by divesting non-strategic units.

During Jerre's tenure, the company:
Improved its financials to place it in the top half of the 1991 Fortune 500 for profits, assets, earnings per share and return to investors, and in the top quarter for profits as a percentage of sales, assets and stockholder equity.
Was named among top 25 companies for women and minorities by Business Week in 1989.
Increased operating income per employee 10 percent in first year, 1987.
Increased sales per employee by 35 percent.
Posted record sales, net earnings, earnings and 19.3 percent return on equity in 1990.
Increased shareholder dividends four consecutive years.
Reduced inventory overhead 25-30 percent over two years with "just in time" program.
Shut down a program that encouraged veteran workers to quit. "We were losing some of our best assets," he told Fortune magazine in 1990.

His earliest experiences include a 21 year career with Honeywell where he rose from the plant floor to the executive suite. [He was the youngest group vice president in their history.]

While at Honeywell, Jerre:
Built Honeywell's European, African and Middle Eastern distribution infrastructures during the late 1970's.
Grew European, Middle East and African operations more than 30 percent per year.
Increased global market share four consecutive years, while doubling net income each year.
Turned around the medical electronics group from loss to profit in one year and ran it profitably for two more before company divested it.

Press and Analysts on Jerre Stead

"Known for his kinetic leadership style, Stead had won high marks within AT&T for swiftly downsizing NCR and reorganizing it around customer-focused teams."

Business Week, Jan. 6, 1995

"Stead's managers are upbeat about his management style and intellect, but most importantly about the knowledge he brings to the table in strategic areas. He lends insight into international affairs, having lived in Japan; is comfortable with technology, having managed AT&T's computer business; and has extensive business contacts throughout the high-tech sector and corporate America."

Computer Reseller News, Jan. 20, 1997

"...Jerre Stead, chairman and CEO, is uniquely suited for his position, having led both technology companies...and rapid growth distribution companies.

Alex, Brown investment report, May 29, 1997

"Mr. Stead was credited with streamlining NCR's product line and sharply focusing its marketing efforts on specific segments of business customers. AT&T noted that the revenues during his tenure increased 9 percent while orders rose 21 percent."

Wall Street Journal, Jan. 4, 1995

"Every meeting I've had with him, I'm amazed at how quickly he's grasped the industry."

David Boucher, VP Channel Sales, IBM PC Co.
to Computer Reseller News, Nov. 17, 1997

"...Stead served 21 years with Honeywell, Inc., where industry analysts say he was regarded as a corporate Wunderkind in the areas of international marketing, sales, production and finance."

Chicago Tribune, March 20, 1993