Richard Garnick began his experience in the business world at a young age. He graduated from Philadelphia’s Drexel University in 1982 with his Bachelor’s degree in Commerce and Engineering. While working fulltime, he returned to school and earned his Master’s in Business Administration in 1990 at Baltimore’s Loyola College.
Richard Garnick has participated in served various organizations as an outside director that has enhanced his knowledge of wide array of technology sectors. He was a member of the Board of Directors for Ravisent Technologies, Inc. from 1994 to 1998, taking it from concept to IPO. He also served on the Board of Directors of the Information Technology Association of America, the oldest and largest industry trade association for technology companies from 2002 until 2006.
Texas Instruments, Inc. recruited Garnick right out of Drexel in 1982. The company specialized in semiconductor sales that netted over $13 billion in profit. he performed extremely well at the company, eventually becoming at that time the youngest Regional Manager in Texas Instruments, Inc.’s history. He managed 41 professionals in 6 offices, while overseeing $150 million in sales. He remained at the business until 1990.
From 1990 to 1991, Richard Garnick worked at Innovoice, Inc. in Reston, Virginia as Chief Operating Officer. He was hired to re-position this early stage Venture Backed technology company, which leveraged a patented analog compression technology, to move into and help create the voice processing/voice mail industry. Richard oversaw all operations. He architected a restructuring program that managed to turn Innovoice, Inc. around and accelerate growth and profits. He personally negotiated a partnership with a multi-billion dollar distributor, leading to the company’s rapid expansion building on a multi-million dollar revenue agreement. He was eventually able to sell Innovoice, Inc. at a profit in less than a year.
Richard Garnick’s next business venture was at Arrow Electronics, Inc. in Melville New York. This business was recognized as the leading worldwide distributor of electrical components and subsystems. Arrow Electronics, Inc. purchased the company, Lex Electronics, in 1991, leading to one of the biggest industry mergers at that time.
From 1991 to 1993, he worked as an Area Director, managing assets, sales, marketing, and engineering for a two-state region comprised of 100 professionals. He was able to increase the region’s revenue by over $60 million annually and the gross net profit margin from negative two percent to over 10 percent. He handled all major corporate integration issues that involved customers and suppliers.
Richard worked as the Director of Sales for North America from 1993 to 1995. Arrow Electronics, Inc. promoted him to this position to restructure the entire sales force. He led a group of six regional vice presidents and 35 general managers in an effort to service over 30,000 customers around the United States and Canada. Garnick improved the business by introducing new resource allocations and improved training programs within 15 markets. He also helped expand the market by 80 percent and increased the revenue stream by $80 million.
From 1995 to 1999, Richard Garnick was Vice President of Avnet, Inc. in Peabody, Massachusetts, outside of Boston. This corporation was also a global distributor of electronic components and subsystems. Garnick handled all profit and loss responsibility, which included sales, marketing, human resources, product development, customer service, and quality control. He was in charge of the Northeastern division of Avnet, Inc., handling over $600 million worth of assets. The total business value was estimated at $3.7 billion.
Richard oversaw and guided more than 400 trained personnel in his division, which was the second largest in the company. During his tenure at Avnet, Inc., he was able to turn the Northeast from the worst performing division into the best performing region. His efforts led to an increase of the businesses market share by nine percent.
Richard Garnick then invested in an early stage technology company, ultimately taking on the operating leadership as Chief Executive Officer and Chairman of Global Digital Media, Inc. (GDM) in Boston, Massachusetts from 1999 to 2001. The company completed deployment of some of the first public WIFI locations at airports, hotels and other high traffic locations, building out one of the first wireless broadband networks. GDM developed a partnership with CNN airport to utilize this network to build out the expansion of the network to over 50 largest airports in N. America.
Major clients that were serviced by Global Digital Media, Inc. included CNN, Carlson Corporation, and Cisco Systems. In the fall of 2001, Global Digital Media, Inc. was negatively impacted by the macro environmental issues at the time and the convergence of a number of major events; the meltdown of Telecom market, .Com bust, and the tragic events of September 11th, 2001. The 9/11 tragedy caused significant drops in airport business ventures across the United States, forcing the company to seek strategic alternatives.
Richard Garnick then joined Wipro Technologies from 2001 to 2005. They held locations in North America, Europe and Bangalore, India. Garnick grew rapidly in the organization rising within the first year to Chief Executive of America & EAS, which ultimately represented roughly 73 percent of Wipro’s worldwide business. The Company was approximately one of many providers of similar services; with about, $300M global revenue and $150M in N. America revenue supported by 5000 global employees. They specialized in information technology services around the world. There are now over 120,000 employed professionals located in 30 different countries.
Wipro named Richard as their Senior Vice President in October 2001. His responsibility was to initiate growth in the company, which had grown stagnant over the past few years. In 2002, he became Chief Executive of the America & EAS, encompassing approximately 65% of the global employees. During his employment, the United States’ Wipro division revenue grew from $150 million to over $2 Billion annually growing at 75% CAGR. Richard architected and led the repositioning of the go-to market approach, global delivery model and more broadly the entire customer engagement model. Some of the major wins were at clients such as GM, ATT Wireless, Emerson, Boeing, Weyerhaeuser, Sony, HP, JPM, UBS, Nationwide Insurance, Travelers Insurance, Lehman Brothers, Best Buy, United Technologies, Pitney Bowes, Gillette and many more.
In March of 2005, Azim Premji, Chairman of Wipro, inducted him to the Wipro’s Corporate Executive Council. He was the first foreign representative on the council, and the only Westerner who has held a position on the board of a leading Indian IT service company.
In 2006, Garnick partnered with Jefferson Partners to turnaround one of it’s troubled portfolio assets. He took on the interim role as Executive Chairman and CEO of the Avotus Corporation in Mississauga, Canada. He was brought on board to transform the business from a money-losing operation into a viable profit-generating corporation. This company helped form the foundation for Richard Garnick’s latest endeavor, The ConJoin Group-II.