Electrocomponents PLC has tapped Lindsley Ruth as its new group chief executive effective April 1. The Future Electronics Inc. veteran is expected to spearhead the continuing transformation of the British components distributor at a moment the industry is undergoing dramatic changes with competition intensifying from Asian rivals as well as smaller distributors in Europe.
As executive vice president and member of the CEO’s office at Future Electronics Ruth was a senior member of the Canadian distributor’s leadership and a trusted lieutenant of founder and owner Robert Miller. He joined Future in 2002 and moved quickly up the ladder, helping to develop and execute the key decisions taken over the years by Miller to improve the company’s performance.
Ruth has overseen key expansion programs at Future, including the building of new distribution centers in the United States and in Germany. He is known to travel extensively with Miller on his various trips in Europe and Asia, giving him insight into operations at the company as well as customers and suppliers while deepening his extensive knowledge and expertise in the distribution business.
At Electrocomponents, Ruth is expected to tap his global knowledge of the market as well as trusted contacts at suppliers, OEMs and distributors to champion the company’s growth and expansion in Europe, North America and potentially in other parts of the globe, including Asia and South America, according to chairman Peter Johnson.
“We are delighted that Lindsley is joining Electrocomponents as Group Chief Executive,” Johnson said in a statement. He has highly relevant international experience and an excellent track record in a successful global distribution business with many similarities to our own. He has consistently driven growth and performance and I look forward to working with him to grow our business and deliver value for our shareholders.”
Ruth is replacing George Mason at the company, which reported revenue of £616.4 million ($951.6 million) for the first six months of the 2015 fiscal year. Electrocomponents had previously announced Mason’s retirement. He is expected to leave the company at the end of March.
“I am excited about joining the team at Electrocomponents and look forward to leading the organisation to accelerate growth, improve profitability and set the business on track to create value," Ruth said in the statement.