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July 10 – July 17, 2008 Edition
Eugster As CEO
of Baker & Taylor
CHARLOTTE, NC/7/7/08 – Baker & Taylor, Inc., the world’s largest wholesale distributor of books and entertainment products, last week named Thomas I. Morgan Chairman and Chief Executive Officer, effective today. Morgan replaces Jack Eugster who had served in the dual role in January after Richard Willis stepped down.
Morgan recently served as President and CEO of Hughes Supply, Inc., in Orlando, Florida, a large distributor of construction supplies. While at Hughes, he significantly strengthened the company’s operations, growing Hughes’ sales from $3 billion to $5.3 billion and implementing operating disciplines. Hughes was sold to Home Depot in 2006 for $3.6 billion.
Before joining Hughes, Morgan had been the CEO of U.S. Office Products Company and had spent 22 years with Genuine Parts Company, the largest member and majority owner of National Automotive Parts Association (NAPA), in various executive positions including as the Executive Vice President of S.P. Richards, a $1.1 billion Genuine Parts subsidiary.
Gary Appel, Vice Chairman of Castle Harlan, Inc., the New York private equity firm that owns the controlling interest in Baker & Taylor, said "Tom Morgan joins Baker & Taylor with a strong background as a leader of some of the country’s largest and best recognized distribution businesses which will enhance our senior management and allow us to accelerate our strategic plans."
Morgan said, "I am excited to be joining the existing senior management team at Baker & Taylor and continuing to build upon the core strengths of the Company with its leading service offering to libraries and retail customers in the US and abroad."
Baker & Taylor, Inc. (www.btol.com) is a global information and entertainment services company that offers books, videos, music, games and services to libraries, educational institutions, and retailers. The company, based in Charlotte, N.C.,is majority owned by Castle Harlan Partners IV, L.P., a leading private equity investment firm.
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