ScanSource Restructures Communications Business in Europe for Profitable
Names Rudy De Meirsman as Managing Director for ScanSource Communications,
GREENVILLE, S.C. -- April 11, 2013
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.
Melissa Andrews, 864-286-4425
Mary Gentry, 864-286-4892
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