Insight CEO Ken Lamnech has announced his retirement from the company at the year’s end.
Lamneck, 66, who has been with the company since 2010, will continue his roles as president, CEO and as a member of the board until a successor is found before transitioning to an advisory role.
During his 12 year reign, Insight has seen its sales grow from $4.1 billion in 2009 to $8.3 billion in 2020 as the business some of that through acquisitions.
Over that same period, Insight’s share price has increased from $11.42 to more than $100 a share, an 800 percent increase.
Insight’s share price fell by more than eight percent when the news was announced.
“It has been my greatest professional honour to lead this amazing company, to work alongside our incredible teammates around the world, to join forces with our partners and to serve our clients”, Lamneck said.
“We have a strong management team and I believe now is the right time to start transitioning the leadership of the company.” [Transitioning means changing, Ed.]
At the moment the company has no one in mind to replace him and is starting to search around. Lamneck is expected to stay until the end of the year to help with the move.
