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Insight Enterprises Inc. (NASDAQ:NSIT), a global provider of information technology solutions with annual revenue of $8.7 billion and a market capitalization of $4.3 billion, announced the upcoming departure of Alexander Baum from its Board of Directors. According to InvestingPro data, the company maintains a strong financial health score and has demonstrated its commitment to shareholder value through aggressive share buybacks. Baum, who has not disclosed any disagreement with the company’s operations, policies, or practices, will retire and not seek re-election at the next annual stockholders’ meeting.
The company’s Board, in response to Baum’s retirement notice, has decided to reduce the number of directors from 11 to 10. This change will take effect concurrently with the retirements of Baum and another director, Ms. Pushor, at the 2025 Annual Meeting scheduled for later this year. The announcement comes as the stock trades near its 52-week low, having declined over 31% in the past six months.
Alongside Baum’s retirement, Insight Enterprises has entered into a letter agreement with ValueAct Capital Management, L.P. This agreement, dated April 2, 2025, outlines the continued sharing of confidential information as Insight consults with ValueAct on strategic matters post Baum’s departure from the Board.
Baum expressed his gratitude for the opportunity to contribute to Insight’s growth, stating, "It has been a true privilege to serve on the board of Insight and work alongside such a talented and dedicated team. Insight has made tremendous progress in its transformation into the leading Solutions Integrator, and ValueAct looks forward to continuing our close engagement with the Insight team."
The company, headquartered in Chandler, Arizona, has not indicated any immediate plans for appointing a new director to replace Baum. Insight Enterprises’ business address remains at 2701 E Insight Way, Chandler, AZ 85286, and its business phone is 480-889-9500.
This news is based on a recent SEC filing by Insight Enterprises Inc. For investors seeking deeper insights, InvestingPro offers comprehensive analysis through its Pro Research Report, featuring detailed financial metrics, valuation analysis, and 13 additional ProTips that could help inform investment decisions in this prominent player in the Electronic Equipment sector.
In other recent news, Insight Enterprises announced the upcoming retirement of board director Kathleen S. Pushor. Pushor, who has served nearly two decades on the board, informed the company of her intention not to stand for re-election at the forthcoming annual meeting of stockholders. Her departure is not due to any disagreements with the company, and Insight Enterprises has expressed gratitude for her contributions. Following her retirement notice, the company’s board decided to reduce the number of directors from 12 to 11, effective at the 2025 Annual Meeting. The company has not yet named a successor for Pushor’s position on the board. Insight Enterprises continues to focus on its operations from its headquarters in Chandler, Arizona. These developments were disclosed in a recent filing with the Securities and Exchange Commission.
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