Anixter announces retirement of CFO Dennis Letham

GLENVIEW, Ill., Feb. 18, 2011 /PRNewswire/ -- Anixter International Inc., a leading global distributor of communication and security products, electrical and electronic wire & cable, fasteners and other small parts, today announced that Dennis J. Letham, who will reach age 60 in July, will retire as Executive Vice President and Chief Financial Officer at the end of June 2011, following an 18-year career with the company as the Chief Financial Officer.

Effective July 1, 2011, Theodore ("Ted") A. Dosch will become Executive Vice President and Chief Financial Officer. Mr. Dosch, age 51, has served as the company's Senior Vice President – Global Finance since January 2009. Prior to joining Anixter, Mr. Dosch served in a variety of senior financial management positions with Whirlpool Corporation, most recently Chief Financial Officer, North America. Mr. Dosch is also a member of the Board of Directors of Habitat for Humanity International, where he currently serves as Vice-Chair of the Board.

In discussing his upcoming retirement, Mr. Letham said, "During my 18-year tenure at Anixter, the company has experienced tremendous change and success, and I am proud of the role the finance organization has played in that success. The company, through a rigorous succession planning process and continuity in key finance positions, is well positioned for the future and to support continued growth."

Commenting on the transition, Bob Eck, President and Chief Executive Officer, said, "Over the past two years, Ted has led our operational finance activities, becoming deeply involved with the end market leaders in performance measurement and improvement, including our working capital efficiency initiative. More recently, Ted has been increasingly engaged in the company's treasury, audit and investor relations functions, preparing for an orderly succession in our finance function. Overall, the succession planning process has properly positioned the company for a smooth and transparent transition, which allows for continuation of the strategies and initiatives that have served us well over the long-term."

Mr. Eck continued, "Ted brings many years of increasing responsibilities and successful leadership with large, complex international financial organizations to his new role at Anixter. I want to thank Dennis for his years of service and commitment to Anixter. During his tenure the company has seen tremendous growth in sales, profitability and shareholder returns. Under Dennis' outstanding leadership, the company developed an effective balance in capital structure, capital allocation and internal controls that helped to serve as the foundation of the company's global growth platform from both an organic and acquisition perspective."