Econocom Group has officially announced the formation of a new Executive Committee, reflecting its ongoing commitment to streamline management and enhance operational efficiency. CEO Angel Benguigui, appointed in July 2024, introduced the committee as part of the company’s strategy to accelerate growth and strengthen its position across European markets. Also, Econocom published their Q3 2024 figures which are pity solid.
The newly appointed Executive Committee includes Quentin Bouchard as Managing Director Global Group Tech, Israel Garcia as Managing Director Business Development & Strategic Plan and Country Manager UK, and Philippe Renauld as Managing Director Finance and M&A. Additionally, Anne Bruchon, the Group Communications Director, will serve as the Secretary of the Executive Committee. This reshuffle aligns with Econocom’s goal of building a leaner, more agile management structure to better support its operational teams and to push forward the company’s ambitious ‘One Econocom’ strategic plan.
Driving flexibility and growth in challenging markets
The new Executive Committee is tasked with enhancing Econocom’s flexibility in responding to rapid market changes, particularly in the highly competitive IT and technology sectors. Each member brings a wealth of experience and entrepreneurial skills, which are in keeping with the company’s long-standing emphasis on innovation and adaptability.
Benguigui emphasized the importance of this reorganization, stating, “This strategic reorganization of our Executive Committee is a clear testament to our ambition to strengthen our European leadership and accelerate growth in our local markets.”
The ‘One Econocom’ plan, launched in November 2023, aims to fortify the company’s European identity while increasing support for its sales teams. The company continues to operate in over 18 countries, offering a range of services in IT infrastructure, digital transformation, and financial management, making it a key player in digital asset lifecycle management and sustainable technology.
Financial performance and outlook
Despite facing challenges in the IT distribution market, particularly in France, Econocom reported positive growth figures for 2024. Revenue for the first nine months of the year reached €1,941 million, marking a 4.0% increase. The Technology Management & Financing (TMF) division led growth with revenue up by 9.7%, while the Products & Solutions (P&S) sector remained stable. Services reported a 2.9% increase in revenue, showcasing resilience in a fluctuating market.
Looking ahead, Econocom remains confident in achieving its full-year guidance, forecasting revenue growth of between 3% and 5% for 2024. The company’s ability to navigate difficult market conditions, particularly in IT distribution, reinforces its solid strategic position within the European market.
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