30 November 2006
Terry Flood Appointed President for Logicalis' North American operations
Logicalis Group, an international provider of integrated information and communications technology (ICT) solutions, has appointed Terry Flood as President and Chief Operating Officer for its North American operations. Currently Chief Operating Officer, he will succeed Mike Cox who moves to the role as board member of Logicalis' spun off business, Active Symbols Inc., whilst also continuing with Logicalis Inc. in the capacity of Chairman.
The appointment will be effective as of 1st March 2007 to coincide with the Group's new financial year. Flood, who is based at Logicalis' North American headquarters in Bloomfield Hills, Michigan, will report to the new Logicalis Group CEO, UK-based Ian Cook, who is currently head of Logicalis' European operations and will assume his new responsibilities simultaneously.
With a total of 25 years of financial and operational management experience, Flood joined Logicalis' North American operations as Chief Financial Officer in 2001, and was promoted to Chief Operating Officer in 2006. He moved to Logicalis from Q2 publishing, a Michigan based sports marketing and publishing firm, which counted amongst its client base such professional associations such as: National Hockey League; National Basketball Association; US Tennis Association; NASCAR and PGA. Prior to joining Q2, Flood worked at Deloitte & Touche's Detroit office as a consultant to Q2, then one of Deloitte & Touche's clients. He joined Deloitte & Touche from auditing and consulting firm KPMG, where, based in San Jose, California, he worked mainly on high technology clients including international strategic partners of Logicalis such as IBM and HP.
Before KPMG, Flood was international audit and accounting manager for software developer, Micro Focus. He joined Micro Focus from TRW's Electromagnetic Systems Laboratory based in Silicon Valley where he worked as a financial business analyst.
Flood holds a bachelor's degree from Western Michigan University and is a member of the American Institute of Certified Public Accountants.
Towards a $1 billion revenue organisation
According to Jens Montanana, Chairman of the Logicalis Group, Flood's appointment was part of a succession planning process which took into account his role in the significant business improvement and market share gains made in the US. "As the majority of the group's revenues and profits are made in the US, this has contributed to the tremendous overall growth in revenues, and large improvements in the profitability of the Logicalis Group, that has been achieved over the last few years," he emphasises.
For the year ended 28 February 2006, Logicalis delivered another twelve months of record-breaking revenue growth. Revenue was $545.6 million, which includes $105.3 million arising from the acquisitions made during the year. This compares to revenue of $340.9 million from continuing operations in 2005. "The company is now heading towards becoming a $1 billion revenue organisation and already employs over 1000 people," says Montanana.
Logicalis is part of the Johannesburg-based Datatec group which achieved a secondary listing on London's AIM in October 2006.
Consolidating role in core markets
During the last 18 months, Logicalis has made nine acquisitions across the US and Europe.
Cook adds, "With this track record, Logicalis is well positioned to continue to play a consolidating role in the US. Going forward, we are likely to pursue our acquisitive strategy and this is where Flood's knowledge and experience in the reseller and consulting markets as well as with venture capital and in mergers and acquisitions will be invaluable. In doing so, we aim to grow the Logicalis percentage representation of our parent company Datatec's group revenues, which for the year ended 28 February 2006 amounted to 18 per cent."
About Logicalis
Logicalis is an international provider of high-performance IT integration solutions. The Logicalis Group employs 1,000 people worldwide, including highly-trained service specialists who specify, design, deploy and manage IT infrastructure to meet the needs of over 5,000 corporate and public sector customers. Logicalis maintains strong partnerships with technology leaders such as IBM, HP and Cisco.
The Logicalis Group is a division of Datatec Limited (DTC), a $3 billion multi-national Group listed on the AIM market of the LSE and the Johannesburg Stock Exchange. With international headquarters in the UK, the Logicalis Group has operations in the US, UK, Germany, and South America.