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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…

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Avnet achieved a fifth consecutive quarter of double-digit year over year revenue growth. Revenue of $6.7 billion USD increased 40% year over year. Whereas, Avnet Technology Solutions, the value added distribution arm of Avnet, Inc. reported the revenue of $2.74 USD billion which was much higher then expectations with a growth 47% year over year. The company claims to be supporting the global technology market, and its investments in global scale and scope enhance its position as a premier service provider to the industry.Read More…

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Avnet, Inc. recorded a revenue of $6.8 billion in the 2nd quarter of fiscal year 2011, an 40% year over year increase in its turnover. Whereas, the value added distribution arm, Avnet Technology Solutions’ revenue grew to $3.21 billion across the globe, which was mostly driven by hardware refresh investments, including spending on industry standard servers, storage and networking products.Read More…