Tech Data Corporation (TECD)
Annual Shareholder Meeting Call
May 30, 2012 03:00 pm ET
Steven Raymund - Chairman
Bob Dutkowsky - CEO
Chuck Dannewitz - SVP & Treasurer
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This meeting was announced in our proxy statement made available on April 20, 2012 to shareholders of record of March 21, 2012. I have been informed by David Vetter, Tech Data’s General Counsel and Secretary and also the supervisor of elections for today's meeting that there are 38,875,025 shares known to be present in person or by proxy which represents 94% of the total outstanding shares. As that represents a quorum I now call the 2012 Annual Meeting of Shareholders to order. At this time I would like to introduce our Directors and a few of the Officers that are here at today’s meeting. Please stand when I call your name.
All the members of the Board of Directors are here today. Steve Raymund, Chairman of the Board; Rob Dutkowsky, our Chief Executive Officer; Jeff Howells, Executive Vice President and Chief Financial Officer; Eddie Adair, Chairman of the Audit Committee; Max Ardelt; Harry Harczak; Kathleen Misunas, Chairwoman of the Compensation Committee; Tom Morgan, Chairman of the Government Committee; Savio Tung; and David Upton.
Three senior executive officers here with us today include Néstor Cano, President Europe; Murray Wright, President of the Americas and John Tonnison, Executive Vice President and Chief Information Officer.
Also joining us today are representatives of Ernst & Young who are our independent accounting firm, [Mike Lennon], coordinating partner and Jason (inaudible), Audit Engagement Partner. They’re available here to answer any questions that might be appropriately directed to them. If there are no objections we will proceed to the remaining minutes of the prior year’s annual meeting.
There are four business items that is set forth in this year's proxy statement. So elect three directors serving for 2015, Kathleen Misunas, Thomas I. Morgan, and Steven A. Raymund. To ratify the selection of Ernst & Young as our independent accountants for over the year 2013, to conduct an advisory vote to approve Named Executive Officer Compensation for fiscal 2012, to approve the executive incentive bonus plan and to transact such other business that may appropriately come before the meeting or any such (inaudible) thereof. You have already (inaudible) most vote again in this meeting. If you have not yet voted or if you want to change your vote please see our representatives at the table outside and they will be happy to assist you. We will now temporarily get [along] doing with the formal meeting.
Steven Raymund our chairman is going to make a special presentation and Bob Dutkowsky CEO will provide an update on Tech Data's business and operating results. Bob's update will be followed by an question-and-answer session. We will have microphones available for you, all of your question as well as our answers will be webcast. So please wait until the microphone comes to you for asking the questions. I would now like to introduce Steven Raymund our chairman.
[Technical Difficulty] in getting started I would first like to recognize and welcome a former board member of long standing John Williams who is joining us today and we had a similar bittersweet ceremony when John retired from the board last year. So and we are certainly delighted to see him here today participating in the meeting with us today. What I would like to do though at this time is to recognize one of our board members who is now retiring for 14 years of very distinguished and exemplary service to the corporation and that’s (inaudible) we had a nice dinner last night in which many of us with the board and management were sharing our memories of our good times with Matt and recognizing him for his main contribution to the company and I think it's a worth while on noting that most of us when we come here were we either already lived in Florida and we are flying some couple of hours away somewhere in the country to coordinating with an American company everything is conducted in proper American English and Mathew is very fluent in English.
Nevertheless have to, is [permanent] at supply here from Munich and send a better part really of a week for every coordinating and incurs certainly a great expense and inconvenience personally to participate in our meetings. But it's been well worth it I think for him, from an experience standpoint and also the corporation that benefits by his observations and his experience, his wisdom, his insight particularly I would say how it relates to the underground realities in the European arena which today represents 60% of our revenue and better than 60% of our employees perhaps we should be holding this meeting in Munich, although I think I remember some shareholder meetings in Munich that there were less than present many years ago.
But I do want to this time to recognize Matt for his instrumental role in Tech Data Corporation success during his tenure with us, Matt for your service, for your dedication contributing to the company's growth and success on behalf of all of our shareholders we thank you.
And we do have a plaque here for Matt and it says Board of Director since 1998 to 2012, in recognition of your instrumental role in Tech Data Corporation’s success during your tenure as a member of the Board of Directors to your service and dedication that has contributed to the company's growth and success over the past 14 years, on behalf of all Tech Data shareholders we thank you for your outstanding contribution.