Avnet announced that Rick Hamada has succeeded Roy Vallee
as the company’s chief executive officer.
The transition was previously announced on Feb. 14, 2011,
and became effective with the beginning of Avnet’s fiscal year 2012.
Vallee will continue to serve as Avnet’s executive chairman of the company’s
Board of Directors. These moves are the culmination of a multi-year CEO
succession planning process. Hamada had previously served as Chief
Operating Officer (COO) since July 2006.
Avnet is performing well, and the company has
significantly expanded our global footprint, firmly establishing the company as
a global leader in value-added technology distribution.
We continue to grow much faster than the markets we
serve, while meeting or exceeding our stated return on capital goals. Rick is
more than ready to become CEO with the skills, experience, passion and values
needed to lead Avnet to the next level of performance,” said Vallee.
This is the perfect time for this transition, and I
truly believe that Avnet’s future is bright. As I step into my new role as
executive chairman, I look forward to working closely with our Board and Rick
to ensure Avnet’s continued progress, while contributing in new ways to the
success of Avnet’s stakeholders,” Vallee added.
Hamada joined Avnet in 1983 and has a strong track record
of performance and team success. He started his career with Avnet as a
technical support specialist and rose through the ranks to take on key
leadership responsibilities in sales, marketing and business development.
In July 2006, Hamada was named COO of Avnet, Inc. and has
been directly responsible for Avnet’s two operating groups, Electronics
Marketing and Technology Solutions, as well as global logistics operations,
information technology, operational excellence and business innovation.
Prior to being named COO, Hamada served as global
president of Technology Solutions since January 2002, driving profitable growth
and global expansion, while achieving Avnet’s highest return on capital
“Avnet has a tremendous future and significant
opportunities ahead,” said Hamada. Roy has provided great leadership
over the past 13 years, and as a result of his steady and insightful guidance,
Avnet has continued to enhance its value to the market, making it the clear
leader in our industry. We are well positioned to advance our ongoing journey
I consider it a privilege to lead this great team, and I
look forward to working closely with Roy and the Avnet Board of Directors to
deliver on Avnet’s key business objectives and commitments for fiscal year 2012
and beyond. I remain personally and deeply committed to accelerating the
success of our customers, suppliers, employees and shareholders by maintaining
our focus on performance and our value-based management approach to managing,
investing in and defining profitable growth across the Avnet enterprise,”
By TelecomLead.com Team