Major organizational changes are driving new sales for WESCO International, Inc. (WCC), according to John Engel, Chairman, CEO and President of the company. He was speaking at Baird’s 2014 Industrial Conference, held at the Four Seasons Hotel in Chicago.
The company, which specializes in supply chain solutions, is headquartered in Pittsburgh, Pennsylvania. It has 9,200 employees working at 475 locations in 19 countries.
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“This year, the company made major organizational changes,” said Engel. “We never had a global sales and marketing leader. We set up new functions in the front end, reorganized our business into a smaller number of P&Ls. We’re very focused on making this new organization work. It really builds off strengths we had.”
The result has been “accelerating sales momentum,” Engel said, resulting in organic sales growth expected to hit the $8 billion mark by year end. Of that, over $400 million in annual sales comes from outside the U.S. and Canada, he said.
Engel pointed to “double-digit growth” in the utility market, with communication and security resulting in $1 billion in WESCO sales. Lighting and sustainability saw $780 million in WESCO sales, with more than a third in LED.
Long term, WESCO’s financial objectives are to grow sales faster than the market and strengthen its business through acquisitions, all while maintaining its cost structure. The company has done 40 acquisitions since being spun out of Westinghouse 20 years ago, Engel said.
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