"We are fortunate to have someone of Tom's caliber lead the company moving forward," said Walter Kortschak, former Chairman of the Components Direct Board of Directors. "Tom's experience and long track record of growing lines of business across many industries and geographic regions will help accelerate Components Direct's growth and fully capitalize on the diverse product opportunities created by the company's powerful cloud-based technology platform. "
Mr. Lacey was previously CEO and board member of Phoenix Technologies (NASDAQ: PTEC), the leading provider of core systems software, where he led the company's return to profitability and successful acquisition by Marlin Equity Partners for approximately $152 million, a ~55% increase in market capitalization from when Tom joined Phoenix. Prior to Phoenix, Tom was Corporate Vice President and General Manager of Applied Materials' SunFab Thin Film Solar Products where he was responsible for all aspects of the ~$700M business. From 2006 to 2007, Tom was President of Flextronics International's Components Group, which he joined in connection with the successful $300 million sale to Flextronics of International Display Works (IDW), a developer of LCD displays. Tom served as Chairman, President and CEO of IDW from 2004 to 2006, where he drove significant revenue and profitability growth and increased the market capitalization by approximately 6 times. Over a 13 year career at Intel, Tom held various management and executive positions of increasing responsibility, including Vice President Sales and Marketing, President of Intel Americas, where he was responsible for over $12 billion in sales. In his last year at Intel, as Vice President and General Manager, Flash Products, Tom grew revenues by $500 million to $2.3 billion.
"I am thrilled to join Components Direct. I am very impressed with the team, technology and the current set of world-class customers. It is rare in a career to get an opportunity to lead an industry transformation and I am very excited to be part of the Components Direct team. I truly believe Components Direct has the cloud-based technology and team to redefine how semiconductor products are distributed. Components Direct's cloud-based platform simply saves manufacturers money and enables customers to use the internet to source products. Components Direct has the ability to impact the semiconductor distribution channel in the same way that Netflix impacted movie distribution or Amazon impacted book distribution."
About Components Direct
Components Direct is the leading cloud-based platform for excess & obsolete (E&O) inventory. Combining proprietary vertical search and content management algorithms with market intelligence software, Components Direct's global platform is transforming the way manufacturers find, connect and transact with their customers. Components Direct is a privately-held, rapidly growing and profitable company led by seasoned veterans from semiconductor and software industry. Components Direct's Board of Directors consists of a number of prominent private investors and industry leaders including Walter Kortschak, Mark Stevens, Harvey Jones, Ken Klein, and Marv Burkett. Components Direct is headquartered in Milpitas, CA.