IT distribution firm Exeed Ltd announced that it is now a 100 percent New Zealand-owned company after Chairman Tony Butler took an ownership stake in the business last week.
As a result of this change in ownership structure, Exeed Investment Holdings has replaced Exeed Holdings as the 100 percent owner, according to a statement released today.
Managing director Justin Tye and Chief Operating Officer Andrew Bain have retained an interest in the company and are continuing in their current roles.
Tony Butler believes Exeed is now the second largest IT distribution company in the country following the acquisition of the distribution arm of Renaissance in July last year.
“The management team is excited that all the changes are complete and we are all looking forward to continuing to improve our high standards of service for our vendors and customers,” says Butler.
Desmond Ling, who has been working at Ingram Micro Australia, will join Exeed in the role of Marketing Director in mid March.
Michael Bosnar, who is based in Melbourne and was one of the cofounders of Exeed Ltd, has sold his shareholding and will resign as a director on the board at the end of February, and Desmond Ling will
replace him on the board.