ScanSource director James Foody to retire

Security products distributor ScanSource announced Thursday that its director for the past 15 years James G. Foody will be retiring from the company in December.

According to a statement issued by the company, the 80-year-old Foody is retiring from the company as part of an effort to "scale-back" his business activities and no succession plans have been announced as it pertains to his seat on the board.

"It has been a great honor to be a part of the ScanSource team. With the strong foundation and leadership currently in place at the Company, I felt that this was the right time for me to step away and focus on my family and other commitments. I want to thank Mike Baur, Steve Owings, my fellow directors, and all ScanSource employees, shareholders, customers and partners, past and present, for all of their support over the past 15 years," Foody said in the statement.

In addition to serving as chairman of ScanSource’s board from December 2005 to December 2009, Foody has also served on several other board committees including the governance committee and the audit, compensation and nominating committee.