Steven R. Fischer has retired as board chairman of ScanSource Inc., effective Feb. 1. CEO Mike Baur has been appointed to the additional role of chairman of the board, and Peter Browning has been appointed lead independent director, according to a news release.
Fischer joined the ScanSource Board of Directors in 1995 and has served as chairman of the Greenville-based point-of sale technology company since 2009. During his 23 years of service, ScanSource grew from $2.4 million in annual net sales to more than $3.8 billion in annual net sales and ranks No. 653 on the Fortune 1000, the release said.
“I am grateful for the opportunity I had to serve on the board of directors and to be a part of ScanSource’s tremendous growth and success over the years. I am also thankful for the experience of serving with, and leading, my colleagues on the board, whom I greatly admire and respect. I have the utmost confidence that ScanSource’s management team and board of directors will be able to realize even greater success in the future,” Fischer said in the release.
Browning has been a member of the ScanSource Board of Directors since 2014 and serves as chairman of the compensation committee.
“Peter Browning will be a terrific lead independent director for our board of directors,” Baur said in the release. “During his time on our board, Peter has developed a deep knowledge of ScanSource and our industry. He has the respect of our board, our management team and our stakeholders and will provide a smooth transition for our board leadership.”
Browning is the founder and managing director of Peter Browning Partners LLC, a board advisory service, and has served on the board of directors of 14 publicly traded companies, according to the release.