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Avnet, Inc. recently announced that Steve Phillips, chief information officer, has been promoted to a corporate officer position of senior vice president for Avnet,, while, Graeme Watt the president of Avnet Technology Solutions EMEA will now be the new corporate vice president for Avnet. “These promotions reflect the substantial contributions each of these executives has made to the success of Avnet, our customers, suppliers, employees and shareholders,” said Rick Hamada, chief executive officer, Avnet, Inc. “By demonstrating exceptional performance in their respective areas of responsibility, Steve and Graeme have earned respect as leaders with a commitment to excellence.”Read More…

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Recently, world’s leading IT distributor Avnet reported impressive numbers $6.43 billion worldwide sales for the first quarter results of the fiscal year 2012, which is an increase of 3.9% year over year. Avnet Technology Solutions experienced solid year over year improvements in profitability and returns during the quarter. Gross profit margin improved 75 basis points sequentially and 37 basis points year over year. In addition, operating income increasing 14.7% year over year, and operating income margin increasing 28 basis points year over year to 2.5%.
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Avnet, one of the largest distributors of electronic components, computer products and embedded technology in the world, closed its fiscal year 2010-2011 on a happy note by clocking a turnover of $26.5 billion, while operating income growing 1.4 times faster than revenue to over $1 billion for the first time. The year 2011 saw Avnet adding more than $7 billion in its revenue basket through a combination of mergers and acquisitions, and organic growth. The company achieved this performance while making significant investments in acquisitions and integrating them into the business.Read More…

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Avnet, Inc. the leading global technology distributor, announced that Rick Hamada has succeeded Roy Vallee as the company’s Chief Executive Officer. Roy Vallee will continue to serve as Avnet’s Executive Chairman of the company’s Board of Directors. “Avnet is performing well, and we have significantly expanded our global footprint, firmly establishing our company as a global leader in value-added technology distribution,” said Vallee. “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. Read More…