Following near unanimous shareholder approval and partial antitrust clearance for their $4.5 billion megadeal, WESCO International and Anixter International announced their future leadership team and organizational structure on Monday for the eventually combined company.
WESCO's acquisition of Anixter — after a multi-round bidding battle — is expected to close in the second or third quarter of this year, subject to remaining closing conditions.
The companies, which will combine to form a distributor of electrical, industrial, communications, OEM, network and security solutions products valued at approximately $17 billion in annual sales, said their new leadership will be as follows:
Strategic Business Unit
Nelson Squires, currently Senior Vice President & Chief Operating Officer for WESCO, will become executive vice president & general manager of Electrical & Electronic Solutions. Squires has held his current position since 2019. He has led WESCO Canada since joining the company in 2015 and gained additional responsibility for the WIS and International businesses in 2018. Prior to joining WESCO, Squires held various VP & GM positions with Air Products & Chemicals, Inc.
Bill Geary, currently executive vice president – Network & Security Solutions for Anixter, will become EVP & GM of Communications & Security Solutions. Geary has held his current position since 2017. Previously, he held a variety of senior management roles at Accu-Tech, including president.
Jim Cameron, currently vice president & general manager, Utility & Broadband for WESCO, will become EVP & GM of Utility & Broadband Solutions. Cameron joined WESCO in 2011 and has led Utility since 2014 and gained additional responsibility for Broadband in 2016. Prior to joining WESCO, Cameron held various senior positions with Irby, a Sonepar Company, as SVP of the Utility Group as well as VP of Marketing & Operations. Earlier in his career, he held various positions with Hubbell Power Systems.
Dave Schulz, currently SVP & chief financial officer of WESCO, will become EVP & CFO. He has served in his current position since 2016. Prior to joining WESCO, Schulz was SVP & CFO at Armstrong World Industries. Earlier in his career, Schulz held various financial leadership positions at Procter & Gamble and the J.M. Smucker Company.
Ted Dosch, currently EVP – finance & chief financial officer of Anixter, will become EVP, strategy & chief transformation officer. Dosch has served in his current position since 2011 and previously held the position of SVP of global finance for Anixter. Prior to joining Anixter, Dosch held senior positions, including CFO-North America and VP – Maytag Integration at Whirlpool Corporation.
Diane Lazzaris, currently SVP & general counsel of WESCO, will become EVP & general counsel. Lazzaris has served in her current position since 2014 and previously held the position of VP, legal affairs for WESCO. Prior to joining WESCO, Lazzaris served as general counsel & corporate secretary at Dick's Sporting Goods. Earlier in her career, she held various leadership positions in Alcoa's legal department.
Chris Wolf, currently SVP & chief human resources Officer of WESCO, will become EVP & chief human resources officer. Wolf has served in her current position since 2018. Prior to joining WESCO, Wolf served as chief human resources officer of Orbital ATK, Inc. until its acquisition by Northrop Grumman, and previously was chief human resources officer of Fannie Mae and E*Trade Financial Corporation.
Hemant Porwal, currently VP, global supply chain & operations of WESCO, will become EVP, supply chain & operations. Porwal has held his current position since 2015. Previously, Porwal served as VP & chief procurement Officer with Sears Holdings. Earlier in his career, Porwal held various financial, supply chain, and operations leadership positions at PepsiCo.
"We are very pleased to reach this critical milestone and announce the formation of our future senior leadership team comprised of outstanding leaders from both WESCO and Anixter," said John Engel, WESCO chairman, president and CEO. "The depth of talent across both organizations is reflected in this exceptionally strong executive management team that will lead our combined company through the integration process and our transformation into the premier global electrical and data communications distribution and supply chain solutions company. I look forward to working with this team as we utilize the best elements of the combined company to deliver our synergy commitments and create substantial value for our customers, suppliers, employees, and investors. The senior leadership team will consist of leaders of three global Strategic Business Units (SBUs), as well as the company's corporate finance, human resources, legal, and supply chain/operations functions. In addition, WESCO announced a new Chief Transformation Officer position with responsibility for completion of the integration process, aligning the company's IT systems and digital transformation efforts, and extending WESCO's historical strength of lean processes across the entire enterprise. These eight senior leadership positions are effective at closing and will report directly to me."
WESCO said it will share further details about its integration planning and anticipated operational and reporting structure once the transaction closes.
In its 2020 first quarter financial report on April 30, WESCO detailed reductions to executive salaries as part of the company's cost-savings measures to help manage COVID-19 business impacts. The company said it has enacted temporary compensation reductions that reduce board of directors’ cash retainer by 25 percent, C-Suite executive salaries by 25 percent, vice president salaries by 20 percent, and other employee salaries by 12 to 15 percent.