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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):   May 18, 2010

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))

Top of the Form

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

(c) On May 18, 2010, Avnet announced that Rick Hamada has been promoted to president and chief operating officer (COO), effective immediately, from his former position of senior vice president and chief operating officer. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
Hamada, 52, previously served as Avnet, Inc. senior vice president and chief operating officer, a position he has held since July 2006. Hamada will continue to report to Avnet, Inc. Chairman and CEO Roy Vallee and will continue to focus on his responsibilities for overseeing the strategic direction and day-to-day operations of Avnet’s operating groups and the logistics, information technology and operational excellence support teams. Hamada joined former Avnet division Hamilton/Avnet Electronics in 1983 as a technical specialist. His career has encompassed roles ranging from technical sales support to global group president of Avnet Technology Solutions. Under his guidance A vnet Technology Solutions achieved impressive growth, while surpassing Avnet's return on capital goal. A member of the Avnet Executive Board, Hamada was first elected a corporate officer of Avnet, Inc. in 1999. He is a member of the board of directors for San Diego State University’s College of Business Administration. Prior to Mr. Hamada’s promotion to president, no officer of Avnet held that title.
Mr. Hamada will continue to participate in Avnet’s Executive Incentive Plan and its Long Term Incentive Plan on terms and conditions presently applicable.
There are no family relationships involving Mr. Hamada which would require disclosure under Item 401(d) of Regulation S-K. There are no current or proposed transactions in which Mr. Hamada or any member of his immediate family has, or will have, a direct or indirect material interest which would require disclosure under Item 404(a) of Regulation S-K.





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 May 18, 2010.





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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.
          
May 21, 2010   By:   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 May 18, 2010.
EX-99.1

Exhibit 99.1

Avnet Promotes Rick Hamada to President and Chief Operating Officer

Phoenix, Ariz. — May 18, 2010 — Global technology distribution, marketing and services company Avnet, Inc. (NYSE:AVT) today announced that Rick Hamada has been promoted to president and chief operating officer (COO), effective immediately, adding president to his current COO title. With more than 25 years of industry and Avnet experience, Hamada previously served as Avnet, Inc. chief operating officer, a position he has held since July 2006. Hamada will continue to report to Avnet, Inc. Chairman and CEO Roy Vallee and will continue to focus on his responsibilities for overseeing the strategic direction and day-to-day operations of Avnet’s operating groups and the logistics, information technology and operational excellence support teams.

Vallee commented on Hamada’s on-going contributions noting, “Rick has a proven track record of meeting his goals, leading the organization to higher levels of performance and looking for ways to continuously enhance all aspects of Avnet’s business. The combination of his skills and experience continue to accelerate our progress toward the realization of Avnet’s strategic, financial and people-related objectives. From initiating Avnet’s first set of published core values to our recent focus on customer loyalty, Rick has advanced our efforts to build a strong performance- and values-based culture of excellence.”

During his four years as chief operating officer, Hamada has helped guide the company to achieve superior results and emerge from the recent economic downturn a stronger company, clearly focused on profitable growth and the creation of shareholder value. Under his leadership, the company has also increased its focus on operational excellence, improved the customer experience, streamlined operations and enhanced employee engagement.

“It is an honor to be promoted to President and COO, which further strengthens my commitment to serving the customers, suppliers, employees and shareholders of Avnet. I have tremendous respect for the accomplishments and capabilities of our dedicated team members all around the globe, and I consider it a true privilege to continue to serve in a senior leadership role at Avnet. We have tremendous opportunities ahead of us, and I’m confident that the Avnet team has what it takes to realize our vision of being the premier global technology marketing, distribution and services company in the world.”

Hamada joined former Avnet division Hamilton/Avnet Electronics in 1983 as a technical specialist. His career has encompassed roles ranging from technical sales support to global group president of Avnet Technology Solutions. Under his guidance Avnet Technology Solutions achieved impressive growth, while surpassing Avnet’s return on capital goals. A member of the Avnet Executive Board, Hamada was first elected a corporate officer of Avnet, Inc. in 1999.He is a member of the board of directors for San Diego State University’s College of Business Administration.

About Avnet
Avnet, Inc. (NYSE: AVT), a Fortune 500 company, is one of the largest distributors of electronic components, computer products and embedded technology in the world. Avnet accelerates its partners’ success by connecting the world’s leading technology suppliers with a broad base of more than 100,000 customers and providing cost-effective, value-added services and solutions. For the fiscal year ended June 27, 2009, Avnet generated revenue of $16.23 billion. For more information, visit www.avnet.com. (AVT—IR)

Media Contact
Michelle Gorel
Vice President, Public Relations
480-643-7653
michelle.gorel@avnet.com

or

Investor Relations
Vincent Keenan
Vice President, Investor Relations
480-643-7053
vincent.keenan@avnet.com