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AVNET, INC. (Form: 8-K)  

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

     
Date of Report (Date of Earliest Event Reported):   July 15, 2008

AVNET, INC.
__________________________________________
(Exact name of registrant as specified in its charter)

     
New York 1-4224 11-1890605
_____________________
(State or other jurisdiction 		_____________
(Commission 		______________
(I.R.S. Employer
of incorporation) File Number) Identification No.)
      
2211 South 47th Street, Phoenix, Arizona   85034
_________________________________
(Address of principal executive offices) 		  ___________
(Zip Code)
     
Registrant’s telephone number, including area code:   480-643-2000

Not Applicable
______________________________________________
Former name or former address, if changed since last report

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[  ]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[  ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[  ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[  ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

(a)(1) On July 16, 2008, Avnet issued a press release announcing that James A. Lawrence has resigned effective July 15, 2008 from the Avnet Board of Directors due to change in employment which required his relocation to Europe. Mr. Lawrence served on the Audit Committee and Finance Committee immediately prior to his resignation from the Board.
(d) On July 16, 2008, Avnet also announced that effective July 15, 2008, William P. Sullivan, president and chief executive officer of Agilent Technologies Inc., has been appointed to the company’s Board of Directors for a term expiring at the 2008 Annual Meeting of Shareholders. No committee assignment has been made with respect to Mr. Sullivan’s appointment.
A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.





Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.
The following materials are attached as exhibits to this Current Report on Form 8-K:

Exhibit
Number Description

99.1 Press Release dated July 16, 2008.





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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

         
    AVNET, INC.
          
July 16, 2008   By:   /s/ Raymond Sadowski
       
        Name: Raymond Sadowski
        Title: Senior Vice President and Chief Financial Officer

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Exhibit Index


     
Exhibit No.   Description
 
99.1
  Press Release dated July 16, 2008.
EX-99.1

Exhibit 99.1

Avnet, Inc. Names William P. Sullivan to its Board of Directors

Phoenix, Arizona, July 16, 2008 — Avnet, Inc. (NYSE:AVT) today announced that William P. Sullivan, president and chief executive officer of Agilent Technologies Inc., has been appointed to the company’s board of directors.

“We are delighted to welcome Mr. Sullivan to the Avnet Board,” commented Roy Vallee, Avnet’s chairman and chief executive officer. “His knowledge of the technology industry and hands-on experience running a global organization will benefit Avnet as we continue to grow.”

Mr. Sullivan has served as the president and chief executive officer of Agilent, a provider of bio-analytical and electronic measurement solutions, since March 2005. He served as executive vice president and chief operating officer of Agilent from March 2002 until March 2005, and as its senior vice president and general manager of its Semiconductor Products Group from August 1999 until March 2002. Mr. Sullivan serves on the board of URS Corporation as well as the Children’s Discovery Museum in San Jose, California.

Concurrent with this appointment, Avnet also announced that James A. Lawrence, chief financial officer of Unilever PLC, has resigned from the Avnet board of directors due to change in employment which required his relocation to Europe.

Mr. Vallee commented, “We are very sorry to see Jim leave our board, but we respect his decision and understand his concern with being able to commit appropriate time to our board given his new job responsibilities and location. We thank him for his nine years of service during a period in which Avnet set new records for growth and profitability.”

About Avnet
Avnet, Inc. (NYSE:AVT) is one of the largest distributors of electronic components, computer products and technology services and solutions with more than 300 locations serving 70 countries worldwide. The company markets, distributes and optimizes the supply-chain and provides design-chain services for the products of the world’s leading electronic component suppliers, enterprise computer manufacturers and embedded subsystem providers. Avnet brings a breadth and depth of capabilities, such as maximizing inventory efficiency, managing logistics, assembling products and providing engineering design assistance for its 100,000 customers, accelerating their growth through cost-effective, value-added services and solutions. For the fiscal year ended June 30, 2007, Avnet generated revenue of $15.68 billion. For more information, visit www.avnet.com. (AVT_IR)

For more information, please contact:

Investor Relations
Vincent Keenan
Vice President, Investor Relations
Tel: +1 (480) 643-7053