Avnet Promotes Jim Smith to President, Avnet Logistics
PHOENIX -- Global technology distributor Avnet Inc. (NYSE:AVT) has announced the promotion of Jim Smith to president, Avnet Logistics, effective immediately. Smith has joined the Avnet Executive Board and will report to Avnet Chief Operating Officer Rick Hamada effective July 2, 2006.
Smith, a 35-year veteran of the electronics industry, previously served as senior vice president of Warehousing & Distribution Worldwide for Avnet Logistics. Prior to that, he held the post of senior vice president and director of operations for Avnet Electronics Marketing Americas, the company's largest operating group. He joined Avnet in 2000.
Now, in addition to his continuing leadership of Avnet's warehousing, value-added services, global shipping and transportation, Smith will be responsible for expanding the company's internal and external logistics business, which has been growing steadily over the last two years.
'Logistics is the core of any distribution business and is a key service we provide that is strongly valued by our customers and suppliers. During his five-and-a-half years at Avnet, Jim has developed in-depth knowledge of the company's businesses while earning a solid track record of success. This is a well-deserved promotion,' said Avnet Chairman & Chief Executive Officer Roy Vallee.
'With global reach comes global complexity. The ability to understand and manage the unique transportation challenges of each global region or country, and to manage the data and security requirements of these high-tech products makes the logistics and transportation function a pivotal success factor. Our charter is to provide high-tech companies the total logistics solutions they need. I am delighted to have the opportunity to lead this organization as we continue to assist our customers through the intricacies of the global supply chain,' commented Smith.
Smith's experience includes a background in sales and marketing, and in executive positions in operations, IT, quality and value-added services with electronics distribution companies.
Smith is a graduate of the executive program at the UCLA Graduate School of Management.
About Avnet Inc.
Avnet enables success from the center of the technology industry, providing cost-effective services and solutions vital to a broad base of more than 100,000 customers and 300 suppliers. The company markets, distributes and adds value to a wide variety of electronic components, enterprise computer products and embedded subsystems. Through its premier market position, Avnet brings a breadth and depth of capabilities that help its trading partners accelerate growth and realize cost efficiencies. For fiscal year ended July 2, 2005, Avnet and the recently acquired Memec (closed July 5, 2005) generated combined revenue in excess of $13 billion in the past year through sales in approximately 70 countries. Visit www.avnet.com.
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