Ingram Micro Chairman Jerre Stead says he has no intention of quitting the distributor once a new CEO is found.
Stead last week gave a litany of personal reasons why he won't continue to run day-to-day operations at the company--most of them involving health problems for other family members--but added he's not leaving anytime soon. He said he can't continue working the kinds of hours he's been putting in at Ingram, but won't abandon the company or its resellers.
Stead made his statements to 500 small- and midsize-business resellers last week at the company's VentureTech Network event in Las Vegas. And while the company's stock has been falling for months, Stead said that Ingram will post huge gains this year in net income.