Ingram has been owned by Tianjin Tianhai Investment Company Ltd., a unit of Chinese conglomerate HNA Group, since December of 2016. HNA Group, in turn, has been inspiring less than flattering headlines this year amid a purge of assets aimed at shrinking debts that at one point totaled some $87 billion.
Needless to say, all that bad press has partners (as well as pesky journalists) continually asking Bay what HNA’s travails mean for Ingram. To make matters worse, Reuters reported in April that Ingram would apply for up to $4 billion in financing this year, implying that the company could be short on cash and forcing it to issue a firmly-worded denial.
Anything changed since then?
“Nothing’s changed,” Bay says. “It’s business as usual. We continue to have success and make the investments that we continue to make. And we will continue to make investments on behalf of our solution providers to help them build their business.”
Ingram is essentially insulated from decision-making at HNA anyway, Bay adds, thanks to an agreement two years ago with the U.S. government, which conditioned its approval of the HNA acquisition on a requirement that Ingram operate as a stand-alone entity within its parent company led solely by its own executives and board members.
“We have a ring-fenced relationship,” Bay says of Ingram and HNA.
Photo credit: iStock.com/stockcam
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