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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 29, 2013

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.

On July 29, 2013, Harley Feldberg, Senior Vice President of Avnet, Inc. (the "Company") and President, Avnet Electronics Marketing, provided notice of his intent to terminate his employment agreement with the Company effective July 29, 2014. Gerry Fay, currently the Company’s Senior Vice President and Chief Logistics and Global Operations Officer will succeed Mr. Feldberg as President, Avnet Electronics Marketing effective October 1, 2013. A press release announcing the management change is attached hereto as Exhibit 99.1 and is incorporated herein by reference.





Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit
Number Description

99.1 Press Release, dated July 29, 2013





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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 29, 2013   By:   /s/ Kevin Moriarty
       
        Name: Kevin Moriarty
        Title: Senior Vice President and Chief Financial Officer

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Exhibit Index


     
Exhibit No.   Description
 
99.1
  Press Release, dated July 29, 2013
EX-99.1

Exhibit 99.1

Avnet, Inc. Announces Leadership Transition for Avnet Electronics Marketing
Gerry Fay Promoted to Global President Avnet Electronics Marketing

PHOENIX – JULY 29, 2013 – Avnet, Inc. (NYSE:AVT), a global value-added technology distributor, today announced that it has promoted Gerry Fay to serve as global president for Avnet Electronics Marketing, one of two global operating groups within Avnet. Effective October 1, 2013, Fay will be responsible for the strategic direction, day-to-day operations and performance of the group globally. Avnet Electronics Marketing serves electronic original equipment manufacturers (EOEMs) and electronic manufacturing services (EMS) providers in more than 70 countries, distributing electronic components from leading manufacturers and providing design-chain and supply-chain services.

Fay joined Avnet in 2005 with the company’s acquisition of electronic component distributor Memec, where he was president of Memec Americas. Previously, he held numerous strategic roles, including chief operations officer for Memec’s supply-chain and logistics group and chief operating officer for ATLAS Services, a division of VEBA Electronics. At Avnet, he was named senior vice president of global strategic accounts for Avnet United and created the Avnet Velocity global supply-chain solutions practice at Avnet Electronics Marketing. Currently, he serves as Chief Logistics and Global Operations Officer and is responsible for global warehousing, semiconductor programming, computer and integration center services and operations, global trade compliance and enterprise-wide risk mitigation. A corporate officer and senior vice president, Fay is a member of the Avnet Executive Board and will continue to report to Avnet CEO Rick Hamada.

“Gerry has a proven track record of success and an in-depth knowledge of Avnet’s global business,” said Rick Hamada, Avnet chief executive officer. “In working with Gerry I have come to appreciate his action-oriented approach and thoughtful contributions to Avnet’s strategies. I believe he has the right mix of leadership skills and experience that make him an ideal choice to lead Avnet Electronics Marketing globally.”

“I could not be more honored to lead Avnet Electronics Marketing globally,” added Fay. “This is a tremendous opportunity with a world-class organization, and I look forward to working with the team to help take our great company to the next level.”

Fay succeeds Harley Feldberg, who was promoted to global president of Avnet Electronics Marketing in July 2004. Feldberg joined Avnet in 1981 and was promoted through a series of progressively more responsible positions, including serving as president of Avnet Electronics Marketing Americas and president of Avnet Electronics Marketing Asia. During his tenure with Avnet, he has held executive posts in sales, marketing and business management. Feldberg will remain with Avnet to assist in the smooth transition of leadership.

“We will miss Harley’s combination of both strategic insight and focused execution that has contributed significantly to Avnet’s growth and global leadership in the always dynamic world of electronic components distribution,” Hamada said. “However we understand and respect his personal decision to step out of his role at this time.”

Fay holds a bachelor’s degree in business administration and an MBA from the University of Redlands, Redlands, Calif.

About Avnet Electronics Marketing
Avnet Electronics Marketing is an operating group of Phoenix-based Avnet, Inc. that serves electronic original equipment manufacturers (EOEMs) and electronic manufacturing services (EMS) providers in more than 70 countries, distributing electronic components from leading manufacturers and providing associated design-chain and supply-chain services. The group’s website is located at www.em.avnet.com.

About Avnet, Inc.
Avnet, Inc. (NYSE:AVT), a Fortune 500 company, is one of the largest distributors of electronic components, computer products and embedded technology serving customers globally. Avnet accelerates its partners’ success by connecting the world’s leading technology suppliers with a broad base of customers by providing cost-effective, value-added services and solutions. For the fiscal year ended June 30, 2012, Avnet generated revenue of $25.7 billion. For more information, visit www.avnet.com. (AVT—IR)

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Contacts

Investor Relations

Vincent Keenan
Investor Relations
(480) 643-7053
investorrelations@avnet.com

Media Relations

Joal Redmond
VP, Public Relations
480-643-5528
joal.redmond@avnet.com