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Here’s how Tech Data’s leaders made out in company’s $6 billion sale

Directors and executive officers earned nearly $77 million in stock buyouts when the Largo company went private.
Tech Data chief executive officer Rich Hume talks to company employees about Apollo Global Management's acquisition of Tech Data at a global town hall meeting on Nov. 13, 2019.
Tech Data chief executive officer Rich Hume talks to company employees about Apollo Global Management's acquisition of Tech Data at a global town hall meeting on Nov. 13, 2019. [ David Kiester | Tech Data ]
Published Jul. 7, 2020
Updated Jul. 7, 2020

Tech Data’s $6 billion sale to a private equity firm resulted in quite a payday for longtime shareholders, who saw the Largo technology distribution company’s stock price rise from $88 in mid-2018 to $145 last week.

Among those who made out the best: Tech Data’s leadership.

Members of Tech Data’s board of directors walked away from the June 30 sale to Apollo Global Management with payouts ranging from nearly $700,000 to more than $15 million, according to filings with the U.S. Securities and Exchange Commission.

Related: Tech Data completes $6 billion sale to private equity firm

The highest went to chairman and executive director Robert Dutkowsky, whose shares netted $15,315,335. Five trusts representing tens of thousands of additional shares in the names of Dutkowsky’s charities and family members also earned seven-figure payouts, for a total of $31,114,535.

Tech Data Corp. CEO Robert Dutkowsky said he was pleased with third quarter fiscal results of the "new Tech Data," which incorporates the Techology Solutions business of Avnet Inc.
Tech Data Corp. CEO Robert Dutkowsky said he was pleased with third quarter fiscal results of the "new Tech Data," which incorporates the Techology Solutions business of Avnet Inc.

All but one of the company’s 10 directors earned at least $1 million, including CEO Rich Hume, who received $8,966,800 for his shares. In total, the directors and their families and trusts wound up with more than $56.5 million.

Among the company’s top executives who nabbed high payouts: David Vetter, executive vice president and chief legal officer, who got $5,265,385; Patrick Zammit, Tech Data’s European president, got $3,868,165; and John Tonnison, executive vice president and chief information officer, got $3,790,880.

At least three other officers — Charles Dannewitz, executive vice president and chief financial officer; Beth Simonetti, executive vice president and chief human relations officer; and Joseph Quaglia, president for the Americas — ended up with payouts of more than $2 million.

While no longer publicly traded, the company will remain local and is investing $750 million into digital business development, including new cloud services.