Friday, February 3, 2012

PC Connection names Driscoll as new CFO

By Rodney H. Brown

PC Connection Inc., the online technology retailer based in Merrimack, N.H., has named Joseph S. Driscoll as the company’s new CFO and treasurer.

Driscoll, also named a senior vice president, will take on the roles on March 5, when current CFO and Treasurer Jack L. Ferguson will retire, according to a release from the company. Ferguson has been with PC Connection (Nasdaq: PCCC) since 1992, serving as CFO since 2004.

Before accepting the PC Connection position, Driscoll served as CFO of Summer Infant Inc., a Rhode Island-based maker of infant and toddler-related products from 2006 to 2012. Prior to that, beginning in 2001, he was CFO at ACT Electronics Inc.

PC Connection operates through four sales subsidiaries: PC Connection Sales Corp. in N.H.; MoreDirect Inc. in Boca Raton, Fla.; GovConnection Inc. in Rockville, Md.; and Professional Computer Center Inc. of Itasca, Ill., which does business as ValCom Technology. The company bought ValCom, a provider of network, server and storage installation services, for $11.6 million in March 2011. The buyout consisted of a stock purchase agreement with $8.6 million paid upfront to ValCom shareholders and another $3 million to come after performance milestones are hit.

In August, PC Connection promoted Timothy McGrath to the position of CEO. He succeeded co-founder Patricia Gallup, who continues as executive chairman of the board of directors and also serves as chief administrative officer, overseeing corporate governance and administration.