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FREMONT, Calif. & CLEARWATER, Fla. - TD SYNNEX (NYSE: SNX), a global IT distributor and solutions aggregator, announced the appointment of Kenneth Lamneck to its Board of Directors. The announcement came following the company’s annual meeting of stockholders in April 2025, where Lamneck was also appointed as Chair of the Nominating and Corporate Governance Committee.
Lamneck, a seasoned technology executive with over thirty years of experience, has held various leadership roles, including President and CEO of Insight Enterprises, Inc. His career also includes executive positions at Tech Data Corporation, Arrow/Richey Electronics, and Arrow’s Industrial Computer Products business, where he led product strategy, supplier relations, and business development initiatives.
"I’m honored to join TD SYNNEX’s experienced Board of Directors at such a pivotal time in the company’s evolution and look forward to working with leadership to drive transformation and deliver value for the global IT ecosystem," said Lamneck.
His addition to the board is expected to bolster TD SYNNEX’s governance and strategic oversight, particularly as the company seeks to accelerate innovation within the IT sector. The company has demonstrated consistent shareholder returns, maintaining dividend payments for 12 consecutive years with a 10% dividend growth in the last year. Ann Vezina, Chair of TD SYNNEX’s Board, expressed confidence in Lamneck’s ability to contribute to the company’s growth, citing his deep industry expertise and operational leadership skills. For detailed analysis of TD SYNNEX’s leadership and performance metrics, InvestingPro subscribers can access comprehensive research reports covering 1,400+ top stocks.
Lamneck’s career began as an engineer at IBM, and he is a former United States Army officer. He holds a Bachelor of Science degree from the United States Military Academy at West Point and an MBA from the University of Texas at El Paso. Besides his new role at TD SYNNEX, he currently serves on the boards of Benchmark Electronics, Inc. and Fidelity National Information Services, Inc.
TD SYNNEX, headquartered in Clearwater, Florida, and Fremont, California, serves over 150,000 customers across more than 100 countries. Trading at a P/E ratio of 15.1 and showing revenue growth of 4.6% in the last twelve months, the company appears undervalued according to InvestingPro Fair Value estimates. The company’s portfolio includes a wide range of IT products, services, and solutions from over 2,500 technology vendors, focusing on high-growth segments such as cloud, cybersecurity, big data/analytics, AI, IoT, mobility, and as-a-service offerings.
This news is based on a press release statement from TD SYNNEX.
In other recent news, TD Synnex has been the focus of several analyst updates and corporate governance changes. RBC Capital Markets has adjusted its price target for TD Synnex to $145, maintaining an Outperform rating, while BofA Securities has reduced its target to $135, also reaffirming a Buy rating. Despite these adjustments, both firms express confidence in TD Synnex’s growth potential, with RBC highlighting its ability to surpass market performance and BofA noting robust growth in strategic technology portfolios. Goldman Sachs maintains a Buy rating with a $133 target, optimistic about the company’s strategy to expand its portfolio and customer base despite lowering revenue guidance for the second half of fiscal year 2025.
Meanwhile, TD Synnex shareholders have approved amendments to the company’s charter, which include removing supermajority voting requirements and limiting liability for certain officers. These changes are part of the company’s efforts to align governance practices with evolving market standards. The company’s recent Investor Day provided insights into its strategic directions, with management emphasizing a focus on sustainable and profitable growth. TD Synnex’s capital allocation strategy aims to return 50-75% of free cash flow to shareholders through dividends and buybacks.
Analysts from RBC and Goldman Sachs remain optimistic about TD Synnex’s ability to navigate the uncertain IT spending environment, with strategies targeting specific market segments and customer needs. BofA highlights the company’s shift towards higher-margin products and services as a positive indicator for future growth. These developments reflect TD Synnex’s ongoing efforts to strengthen its market position and shareholder value.
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