PHOENIX--(BUSINESS WIRE)--
Avnet, Inc. (NYSE: AVT) announced today that James A. Lawrence, chief
executive officer of Rothschild North America and co-head of global
investment banking, has been appointed to the company's board of
directors effective May 12, 2011. Mr. Lawrence previously served on
Avnet's board from 1998 to 2008 and resigned due to a change in
employment that required his relocation to Europe. Mr. Lawrence's
reappointment brings the total number of Avnet directors to 11, nine of
whom are independent outside directors. He will serve on both the
compensation and finance committees.
"We are very pleased to have Jim rejoin our board of directors. With his
prior experience serving on Avnet's board and his breadth of global
business experience, including roles in strategy development and
finance, we expect Jim's insights to provide valuable perspective as we
continue to expand our global presence and generate increased
shareholder value," said Roy Vallee, chairman and chief executive
officer.
Since June 2010, Mr. Lawrence has served as chief executive officer of
Rothschild North America and as co-head of global investment banking.
Rothschild provides financial advisory and asset management services
across the Americas from offices in New York, Washington, D.C., Toronto,
Montreal and Calgary. Prior to joining Rothschild, Mr. Lawrence served
as chief financial officer of Unilever and as an executive director on
the boards of Unilever NV and Unilever PLC. Before that, he served as
vice chairman and chief financial officer of General Mills and was also
responsible for the company's international business. Mr. Lawrence also
held positions as executive vice president of Northwest Airlines and
president and chief executive officer of Pepsi-Cola Asia, Middle East
and Africa. He was co-founder and chairman of The LEK Partnership, a
corporate strategy and merger/acquisition consulting firm headquartered
in London, and a partner of Bain and Company overseeing business in
London and Munich. Mr. Lawrence also serves as a non-executive director
on the board of International Airlines Group, which is the holding
company for British Airways and Iberia.
About Avnet
Avnet, Inc. (NYSE: AVT), a Fortune 500 company, is one of the
largest distributors of electronic components, computer products and
embedded technology serving customers in more than 70 countries
worldwide. Avnet accelerates its partners' success by connecting the
world's leading technology suppliers with a broad base of more than
100,000 customers by providing cost-effective, value-added services and
solutions. For the fiscal year ended July 3, 2010, Avnet generated
revenue of $19.16 billion. For more information, visit www.avnet.com.
(AVT_IR)
Avnet, Inc.
Vincent Keenan, 480-643-7053
Vice President,
Investor Relations
Vincent.keenan@avnet.com
Source: Avnet, Inc.
News Provided by Acquire Media