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By | Paul Kunert 27th November 2013 12:15

Tech Data goes for big gun credit man amid accounts probe

Hauls in former Sun and Oracle bigwig Kevin Corcoran

Tech Data UK has opted for a big hitter to head up its credit function amid the continued probe into accounting irregularities.

Blighty's largest distributor has hauled in former Sun Microsystems global credit manager Kevin Corcoran as director of credit services and after sales management.

The second element to the title is part of the wider remit that Corcoran will fill: the customer services manager will report to him whereas previously the reporting line was dotted to the FD.

But the former FD Phil James was one of a number of individuals to leave the distributor earlier this year when discrepancies emerged relating to the accounting of vendor rebates.

In the interim, TD Euro CFO Marco Preda swooped on the UK biz to run the finance department from May but has since been replaced by the excellently named Howard Tuffnail, a 25-year company veteran who was most recently senior veep of finance in Canada.

The probe continues, and TD has until 27 March to file restated accounts or be booted off NASDAQ. At that point it will be 360 days after TD went public about the accounting errors which may force it to restate multi-year results, potentially wiping up to $33m off the bottom line.

It is believed the senior UK execs have got their boardroom back, after it was taken over by bean counters during the audit. Some of those forensic accountants have still been spotted lurking in the building, say a source.

Prior to joining TD UK last week, Corcoran was - and remains according to his LinkedIn account - a co-director at a credit collection consultancy, and before that he was EMEA credit manager at Oracle, which swallowed Sun in 2010.

TD UK group credit and risk manager Mark Ancell, will report to Concoran.

In a canned statement sent to The Channel, Corcoran said:

"It is great to be here in a distributor that has the ability to offer the channel so much credit. As a whole there is ample facility to enable channel growth, the task is to manage the distribution of the credit in order to bring growth to our reseller partners and to Tech Data."

Elsewhere in TD, the distributor integrated ETC, part of the SDG buy, last weekend with vendors and trade customers unified on its internal systems. The ISI and iQ-Sys divisions are part of the next phase. ®

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