* *Editor's Note: Click here to see which channel people were on the move in June and July.**
Ingram Micro Inc. is changing up its management structure in a move aimed at making more money and bolstering shareholder returns.
On Thursday, the distributor named Paul Read as president and COO. Read takes over the president role from CEO Alain Monie, and the COO role from Bill Humes, who now serves strictly as CFO.
"These changes will allow me to devote more time to new and future strategic growth opportunities," Monie said in a prepared statement. "Paul, Bill and I, with the rest of the executive team, are focused on improving profitability and delivering better shareholder returns."
The change take effect on Sept. 30. As president and COO, Read will oversee the worldwide IT distribution business and logistics support organizations, with the IT distribution regional presidents reporting directly to him. Read, who joined the Ingram Micro board of directors last September, has resigned his role as a member effective immediately.
Meanwhile, Humes' responsibilities have been expanded to include direction of Ingram Micro's global shared services centers and strategic sourcing operations.
Read will report to Monie, and Humes will continue to do so as well.
Read comes to Ingram Micro from Flextronics Inc., where he most recently served as CFO and executive vice president. He worked for the electronics and IT company from June 1995 to June 2013. He also has held various financial positions in the U.K. with Allied Steel and Wire, STI Telecommunications and Associated British Foods.