CompuCom Rehires Channel Vet Kevin Shank As New CEO
Kevin Shank spent nine years with CompuCom back before that company was acquired by ODP, the parent company of Office Depot, and returns after a stint running the U.S. operations of U.K.-based Computacenter to lead a new CompuCom that is now owned by private equity firm Variant Equity Advisors.
National MSP CompuCom Systems Monday said Kevin Shank, a seasoned channel veteran and a former executive of the company, has returned as CEO.
Shank most recently served as president of the North American arm of U.K.-based Computacenter. He joined Computacenter in late 2020 when Computacenter acquired Pivot Technology Solutions, a U.S.-based solution provider where Shanks last served as CEO and a member of the board of directors.
Shank is coming home when it comes to his joining CompuCom. He previously spent nine years at CompuCom, leaving the company in early 2014 as executive vice president, to join Pivot.
[Related: 4 Key Takeaways From Office Depot’s Sale Of CompuCom]
Shank was unavailable to discuss his role as of press time.
Despite its long history as an IT solution provider and MSP, CompuCom has a short history as an independent company. CompuCom in December 2021 was acquired by an affiliate of Variant Equity Advisors, a Los Angeles based equity firm specializing in corporate divestitures, from ODP, the parent company of Office Depot.
The deal, worth just over $300 million at the time, was significantly less than the $1 billion ODP paid when it acquired CompuCom in 2017.
Farhaad Wadia, managing partner of Variant Equity Advisors, in a prepared statement called Shank the right choice at the right time to serve as CompuCom’s new CEO.
“Kevin not only has a strong combination of sales, operations and services experience but he is an inspiring and motivational leader who is known for identifying and creating growth. He shares a belief in the opportunities that lie ahead and is committed to revving the commercial engine once again,” Wadia said.
CompuCom, as a private company, has not reported its financials since its second fiscal quarter 2021, when it ODP reported CompuCom sales of $222 million, which was up 4 percent over that of the second quarter of 2020. However, CompuCom reported $3 million in operating income for the quarter, down year over year from $4 million. CompuCom, in its last year of operation before being acquired by ODP, reported 2017 revenue of about $1.1 billion.