Imation Corp. (NYSE: IMN), a global scalable storage and data security company, today announced that Richard (Dick) B. Parran Jr. has joined the company as vice president of Corporate Development and a member of the Company’s executive committee. Parran, a 30-year telecommunications veteran and experienced corporate development executive, will oversee Imation’s Corporate Development function, including the Company’s mergers and acquisition (M&A) strategy.
“Imation is in the midst of a strategic transformation, focused on emerging growth opportunities in data storage, protection, and connectivity,” said Mark Lucas, Imation president and chief executive officer. “Our strategy addresses both organic and inorganic growth opportunities, including acquisition of key technologies and businesses in both scalable storage and mobile security. As we continue to execute on our transformation and strategic actions, we are very pleased to add Dick Parran’s proven M&A experience and successful track record of designing and executing business turnaround and growth strategies.”
Parran most recently served as president, Network Solutions, for ADC Telecommunications, Inc., a $1.2 billion supplier of telecommunications network infrastructure products and services. Prior to that, in his 15 years with ADC, he held senior executive business unit operation, strategic marketing, and corporate business development positions, including the position of vice president of corporate business development, responsible for all merger, acquisition, divestiture, and venture capital investment activity. Before ADC, Parran held general management, marketing and corporate development positions with Paragon Business Systems, Showtime Networks and Centel Corporation. Parran earned a bachelor of science in engineering (mechanical engineering and materials science) degree from Duke University and a master of business administration degree from the University of Chicago.
About ImationImation is a global scalable storage and data security company. Our portfolio includes tiered storage and security offerings for business, and products designed to manage audio and video information in the home. Imation reaches customers in more than 100 countries through a powerful global distribution network and well recognized brands. For more information please visit, www.imation.com.Imation and the Imation logo are trademarks of Imation Corp. and its subsidiaries. All other trademarks are property of their respective owners.
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