In a surprise move, Oki Data Americas President and CEO Stewart Krentzman Monday said he is leaving the company, according to a letter he sent to Channelweb.com.
In a letter to employees, the 12-year company veteran said he had been in talks with senior management for the past year about exiting the printing giant.
"I actually began this discussion with senior management in late September 2008 and we finalized a transition plan this past March," Krentzman said. "While I will miss the people here at Oki Data Americas, my 204-mile daily commute to the office is something I will not miss."
Krentzman could not be reached for comment.
Takabumi Asahi, executive vice president and COO for North America, has been named as Krentzman's successor as president and CEO of Oki Data Americas.
Krentzman will serve out the remaining eight months of his contract and will assist Asahi and Sugimoto-san, president and CEO of Oki Data Japan, in the transition.
Krentzman also said that "on a personal level" he does not plan to retire but did not say what his next endeavor would be. Currently, Krentzman is an adjunct professor instructor at New York University and teaches marketing, advertising and public relations.
In his letter, Krentzman praised employees for doing a good job in the difficult economic climate and for maintaining Oki Data's printer market-share position, noting that "in a few printer technology categories we have even grown market share."
"We have remained true to our selling strategy, utilizing solution providers as our basis for growing our business," Krentzman said.
In a recent interview with Everything Channel, Krentzman had some advice for the channel.
"I think what channel partners have to really understand is that the business will always be in constant evolution and that business is always going to be under pressure to change," he said.
"In the area of technology, you can't think about changing, you've got to change before you might be ready to change. The marketplace requires you to do that. If you're thinking or debating about change and your competition has already changed, then you've missed the boat. There's really a sense of urgency to move at a very fast pace, that's going to continue."
