|By Business Wire||
|November 29, 2012 10:05 AM EST||
Brightstar Corp., the world’s largest specialized wireless distribution company and leader in diversified services for the wireless industry, today announced that Thomas J. Seifert has joined the company as executive vice president and chief financial officer, effective December 1. He replaces Dennis J. Strand, who has been named president of Brightstar Financial Services, a new business unit focused on providing innovative financing solutions for customers worldwide.
Thomas J. Seifert, EVP-CFO, Brightstar Corp. Miami, Florida (Photo: Business Wire)
A seasoned finance executive with extensive global operations expertise, Mr. Seifert will manage all aspects of the company’s financial operations, including corporate accounting, strategic financial planning, income taxes and corporate treasury, and information technology. He will report to Brightstar chairman and CEO R. Marcelo Claure.
Prior to joining Brightstar, Mr. Seifert served as chief financial officer and senior vice president at Advanced Micro Devices (AMD). Earlier, he was CFO and COO of Qimonda AG and led the company through an initial public offering. He also worked as group vice president and general manager of the Memory Products Group at Infineon Technologies AG, as CEO and COO of Wireline Communications Business Group, and held executive positions at Altis Semiconductor. Throughout his career, Mr. Seifert has earned a reputation for overseeing flawless execution on a global scale and creating agile environments.
Mr. Seifert comes to Brightstar at a pivotal time in its history. Since 1999, the company has had a compound annual growth rate of 35 percent. It has nearly doubled its total revenue in the last five years. During this period, the company has transitioned from providing primarily distribution and supply chain services to offering a full suite of services including handset protection and insurance, multi-channel retail solutions, device buy-back and trade-in, and financial services.
“We are excited to have Mr. Seifert join us and lead our finance team, as he has a proven track record of leading successful financial strategies for growing global technology companies like ours,” said Mr. Claure. “His background and experience with an established multibillion dollar organization are a great fit for Brightstar and will be a plus as we continue to expand our reach into the wireless ecosystem, seeing and filling gaps in the marketplace.”
Commenting on his appointment, Mr. Seifert said: “Brightstar is the industry leader in a rapidly expanding global market, and as CFO I plan to leverage the company’s success to increase the trajectory of financial performance.”
Mr. Seifert earned an MBA from Friedrich Alexander University, a master’s degree in economics from Wayne State University, and a bachelor’s degree from Friedrich Alexander University.
Brightstar, headquartered in Miami, Florida, is the world’s largest specialized wireless distributor and a leading global services company, serving mobile device manufacturers, wireless operators and retailers, with a presence on six continents. The company’s industry-leading services include value-added distribution, supply chain solutions, handset protection and insurance, buy-back and trade-in solutions, multi-channel retail solutions, and financial services. Brightstar’s annual revenues were US$5.9 billion for the period ended June 30, 2012. The company is ranked #70 on the Forbes 2011 List of America’s Largest Private Companies. http://www.brightstarcorp.com
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