New CEO now leading CXtec after Belyea retirement

SYRACUSE, N.Y. — CXtec is now operating under new leadership following the retirement of CEO Peter Belyea at the end of 2024 after having served as CEO since 2016. Belyea had worked for CXtec for more than 35 years. The company on Jan. 14 announced the appointment of Todd Zegers as its top executive. Zegers, who joins CXtec with more than two decades of experience at the forefront of IT asset disposition (ITAD) leadership, “brings insight and management expertise that will guide the company through the next phase of growth,” CXtec said. CXtec is a provider of full-service IT lifecycle products. The company is headquartered inside City Center at 400 S. Salina St. in downtown Syracuse. It currently has about 250 employees, the company tells CNYBJ in an email. CXtec has been a portfolio company of Miami, Florida–based H.I.G. Capital since 2016. H.I.G. Capital is a global alternative investment firm with $67 billion of capital under management. The firm has a position on the CXtec board of directors and was involved in the search for a new CEO. “We are thrilled to welcome Todd to CXtec. He is a proven leader with deep expertise within our business, customers, and industry. We look forward to supporting him and his strategic vision for the Company,” Matt Kever, managing director at H.I.G. Capital, said in the announcement. “We’re incredibly grateful for Pete Belyea’s stewardship and contributions to CXtec over the years.” Zegers said he’s honored to step into the role of CEO “at such an exciting time” for CXtec. “I’ve always been very impressed with the business and culture that CXtec has built, and I believe our opportunity to grow and work with even more partners to optimize their IT hardware management and service needs in a sustainable and cost-effective manner is limitless,” Zegers said in a statement. “I have already had the opportunity to meet and speak with hundreds of CXtec employees in the past days and weeks and I couldn’t be more excited to work with such an impressive group of people on how we can continue bringing value to the companies we work with. By partnering with major players in this space, identifying markets and industries where we can grow, and making strategic investments in the Company itself, we’ll be able to collectively expand on CXtec’s already distinguished legacy and lead the Company to future growth and success.” Zegers’ hiring as CEO follows the announcement of Brent Berry as chief revenue officer in October 2024 and the announcement of Paul Hatty as CFO in April 2024. In 2024, CXtec served thousands of unique customers, providing its partners with end-to-end network cabling, hardware, storage, and IT maintenance services, the firm said.

Belyea retirement

In the announcement, Belyea, CXtec’s now retired CEO, said Zegers was chosen to be CXtec’s new CEO because he represents the perfect balance of strategic vision and cultural alignment that the company needs to “continue to thrive.” “Our selection process was intentional, ensuring we found a leader who not only understands our business but also values the unique culture that has defined CXtec for decades,” Belyea said. “Todd embodies our commitment to innovation, teamwork, and customer focus, and I am confident he will build on our legacy while driving the Company to new heights.” Besides his work with CXtec, Belyea is also a former president of the Central New York Sales and Marketing Executives (CNYSME) and a life member of its board of directors. CNYSME in 2013 selected Belyea as the recipient of the annual Crystal Ball Award, noting Belyea’s work with CXtec’s equal2new business and its social-media marketing as reasons why it selected him as that year’s recipient. A decade later, when CXtec decided to move its headquarters to downtown Syracuse, Belyea commented on the move in a May 1, 2023 announcement. “The Downtown location and this incredible new space have been designed from the ground up with our team’s needs first. Working with Macknight Architects we have focused on providing the team with a space that provides them with a great working environment that will be more collaborative, fun and productive,” Belyea said. “Employees and future associates want, not only a great working space, but interesting opportunities for living and entertainment outside the office.” In a video posted on LinkedIn, CXtec employees gathered in late 2024 to celebrate Belyea’s career with gifts, fellowship, and a toast. The video also included Belyea’s brief remarks to those attending. “All I can say is thank you. I am beyond … really beyond words. I have so many great memories. We have a spectacular future in front of us and I’m so proud to have been a part of everything we’ve done so far. We have a great cadre of people to lead us into the future … I feel like this is just about to be the best time [for] the organization. If timing wasn’t everything, I’d love to ride along with you but somebody once told me, you know when it’s time and this is my time. I really wish you all the best. Thank you all for everything you’ve done,” Belyea told the crowd, as they greeted his remarks with applause.