Avnet, Inc. Announces Plans for Chief Financial Officer Transition
Initiates Search for Successor
Avnet, Inc. (NYSE:AVT), a leading global technology distributor,
announced today that Ray Sadowski, the company's Chief Financial Officer
for the past 19 years, has notified the company of his intent to retire.
Accordingly, the company has initiated a search to replace him and has
engaged Crist/Kolder Associates, a leading specialist search firm, to
assist in this process. Mr. Sadowski will remain fully engaged in his
current role and responsibilities until his successor is in place and
will continue in a senior advisory role as needed to ensure a smooth and
Rick Hamada, chief executive officer, said, "Ray's 33 total years of
service and significant contributions to Avnet's success are deeply
appreciated. Although he will certainly be missed, we understand and
respect his desire to initiate this personal transition and appreciate
his proactive willingness to assist us through this critical succession."
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 2, 2011, Avnet generated
revenue of $26.5 billion. For more information, visit www.avnet.com.
For more information, visit Avnet's Investor Relations Website at www.ir.avnet.com
or contact us at email@example.com.
Vince Keenan, 480-643-7053
VP, Investor Relations
Source: Avnet, Inc.
News Provided by Acquire Media