Former IDG president, Doug Smith, leaves the company
Doug Smith, former IDG president and, most recently, chairman and CEO of The Distribution Group, an IDG member company
By Industrial Distribution Staff -- Industrial Distribution, 2/1/2000
Newton, Mass.--The times and faces at Industrial Distribution Group are changing. In early December, IDG welcomed Patrick O'Keefe as its new chief executive officer. And on the last day of 1999, the company said goodbye to Douglass C. Smith, chairman and CEO of The Distribution Group, one of the founding companies of the distribution rollup.Smith, who previously served as president and chief operating officer of IDG, and the company parted amicably, according to Jack P. Healey, IDG's senior vice president and chief financial officer. Smith will continue to be involved with IDG as a shareholder and a board member and will continue to work with IDG on an as-needed basis for the remainder of the year.
Smith declined to comment on his departure from the company.
O'Keefe could be not reached at press time, but he offered this explanation in an internal memo, released to Industrial Distribution, regarding Smith's departure: "With my appointment to CEO and the elimination of the office of the president, many of [Smith's] responsibilities over the past year have been eliminated. We appreciate Douglass' guidance and leadership in the past and wish him continued success," O'Keefe wrote.
"In the 1990's, he played a significant role in the formation of the Industrial Distribution Group, as we know it today. For his vision, pioneering spirit, commitment to excellence and many contributions to both our company and the industry, we should all be very grateful."
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