Jerre Stead is not short of a bob or two since he shopped Legent Corp to Computer Associates International Inc – he walked away with $16.5m before tax on exercising his Legent options, but he is looking to make another fortune from his new post as chairman and chief executive of the biggest US microcomputer distributor Ingram Micro Inc, Santa Ana, California: according to the Wall Street Journal, Ingram Micro is planning an initial public offering of shares, and instead of taking a salary or bonus, Stead has been granted options to buy a 2.8% stake in the company at the initial public offering price, in the hope that the shares go to a handsome premium when they begin trading.
