Red River Has New Chief Executive

  • Jeff Sessions Jeffrey Heinz photograph

Valley News Business Writer
Published: 2/19/2017 12:16:50 AM
Modified: 2/19/2017 12:16:51 AM

Claremont — Rick Bolduc, the longtime chief executive and part-owner of Claremont-based Red River Computer Co., has stepped down “effective immediately,” the company announced Thursday. Jeff Sessions, a veteran sales executive who most recently served as the company’s president, has succeeded Bolduc as CEO.

Red River, an IT contractor and computer equipment supplier to the U.S. government, the military and civilian agencies, said the executive change had been in the works for a year.

“This is all part of long-time strategy of our company because we’ve been growing so rapidly in size and scope,” Bolduc said in a telephone interview. “We’ve been building out our senior management team for several years now. This is not news to our employees.”

Bolduc, who joined Red River in 1995 and was named CEO in 2005, will remain with Red River as executive chairman of its board of directors. He said he will focus on “inorganic growth” and acquisitions.

“I am not going anywhere,” Bolduc said. “I am not retiring.”

Sessions joined Red River in 2007 as the company’s first vice president of sales. He then served as senior vice president for corporate strategy before becoming the company’s president in February 2016. Before coming to Red River, Sessions was vice president for federal sales with GMRI, a division of Manassas, Va.-based PC Mall Gov Inc., a technology supplier for government and educational institutions.

The executive shift comes as Red River — it has dropped the words “Computer Co.” from its branding materials although they remain part of its official name — is repositioning itself as a digital infrastructure consultant and shedding its image as a supplier and servicing contractor of computers, laptops and computer hardware to the federal government.

Last fall, Red River made its first significant acquisition when it bought Accunet Solutions, a Boston-based “systems integration and IT consulting services provider” that specializes in serving the health care and life sciences market. The acquisition signaled Red River’s strategy of diversifying beyond its core business as a procurement specialist on behalf of the U.S. military.

Bolduc said he expects more acquisitions to follow. “We have a nice pipeline of companies that we’re looking at,” he said.

Red River, which has about 250 employees, including 100 at its Claremont headquarters, is approaching $500 million in annual revenues, Bolduc said, and expects to continue hiring people as it becomes a “technology integrator” to manage the computer networks and data storage needs of both the federal government and private sector.

“All of our customers are facing legacy equipment issues,” Sessions said. “We still provide the product, that’s our history. But in the last five years we’ve really been investing back into the company in terms of IT solutions, software, writing programs — all multiple solutions that our customers” require.

Red River’s growth spurt and decision to expand aggressively follows a rough patch the company hit after the turn of the decade.

In 2011, Red River was part of a three-way merger with FusionStorm of San Francisco and Global Technology Resources of Denver, but the deal was called off after FusionStorm withdrew plans for a public stock offering. Then, in 2012, Red River agreed to pay a $2.3 million to the government to resolve allegations that it violated the False Claims Act when doing business with various federal agencies. The charges, broadly, involved Red River mishandling contracts for services and equipment. Red River said contracts involved isolated incidents and did not affect ongoing business.

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