Imation
Corp. (NYSE: IMN), a global scalable storage and data security
company, today announced that Richard (Dick) B. Parran Jr. has joined
the company as vice president of Corporate Development and a member of
the Company’s executive committee. Parran, a 30-year telecommunications
veteran and experienced corporate development executive, will oversee
Imation’s Corporate Development function, including the Company’s
mergers and acquisition (M&A) strategy.
“Imation is in the midst of a strategic transformation, focused on
emerging growth opportunities in data storage, protection, and
connectivity,” said Mark Lucas, Imation president and chief executive
officer. “Our strategy addresses both organic and inorganic growth
opportunities, including acquisition of key technologies and businesses
in both scalable storage and mobile security. As we continue to execute
on our transformation and strategic actions, we are very pleased to add
Dick Parran’s proven M&A experience and successful track record of
designing and executing business turnaround and growth strategies.”
Parran most recently served as president, Network Solutions, for ADC
Telecommunications, Inc., a $1.2 billion supplier of telecommunications
network infrastructure products and services. Prior to that, in his 15
years with ADC, he held senior executive business unit operation,
strategic marketing, and corporate business
development positions, including the position of vice president of
corporate business development, responsible for all merger, acquisition,
divestiture, and venture capital investment activity. Before ADC, Parran
held general management, marketing and corporate development positions
with Paragon Business Systems, Showtime Networks and Centel Corporation.
Parran earned a bachelor of science in engineering (mechanical
engineering and materials science) degree from Duke University and a
master of business administration degree from the University of Chicago.
About Imation
Imation is a global scalable storage and data
security company. Our portfolio includes tiered storage and security
offerings for business, and products designed to manage audio and video
information in the home. Imation reaches customers in more than 100
countries through a powerful global distribution network and well
recognized brands. For more information please visit, www.imation.com.
Imation and the Imation logo are trademarks of Imation Corp. and its
subsidiaries. All other trademarks are property of their respective
owners.
