Ingram Micro names new CEO

Kent Foster, the former president of GTE, will replace Jerre Stead as chief executive officer of the computer wholesaler.

Computer wholesaler Ingram Micro today named Kent Foster as its new chief executive officer.

Foster, 56, will replace Jerre Stead in May. In September, Stead said he would step aside as chief executive once a successor was named. Stead will remain chairman of the board until Foster, the former president of GTE, takes the position, the company said in a statement

"Kent has demonstrated exceptional leadership in his career at GTE," Jerre Stead, chairman of Ingram Micro, said in a statement. "He has a track record of successfully uniting multiple business units made up of more than 100,000 employees behind a single purpose and objective to enable change, encourage teamwork and deliver consistent results.

"We chose Kent because he has the focus and entrepreneurial spirit to lead the transformation of Ingram Micro into a service powerhouse."

Ingram Micro is one of the largest wholesale providers of computer products and services, with sales exceeding $28 billion in 1999. The company's key business units deliver distribution, product acquisition and selection, supply system automation technology, and electronic procurement software.