New CEO at distributor Avnet

Roy Vallee the long time CEO of Avnet (Nasdaq: AVT) will be stepping down from his post for Rick Hamada this summer.

Vallee will continue with the company as Executive Chairman.

Hamada, 53, will take over from Vallee on Amerian Independence Day (July 4, 2011), concurrent with the beginning of Avnet’s new fiscal year. Hamada currently serves as president and COO.

These moves are a culmination of a multi-year CEO succession planning process, according to the company based in Phoenix, Ariz.

Hamada said that he is excited about the company’s future and is privileged to lead the company. “I look forward to working closely with Roy, our Board and our outstanding global team 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 a focus on our performance and values-based culture of excellence and our value based management approach to managing, investing in and defining profitable growth across the Avnet enterprise.”

Hamada has been with Avnet since 1983. 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 and has been directly responsible for Avnet’s operating groups, Electronics Marketing and Technology Solutions, as well as global logistics operations, information technology, operational excellence and business innovation.

Prior to COO, Hamada had served as president of Technology Solutions since January 2002. Hamada was first elected a corporate officer of Avnet in 1999, is a member of Avnet’s Executive Board and chairs Avnet’s Global Executive Council. He is a graduate of San Diego State University.

Meanwhile, Vallee has been with Avnet for 34 years and is completing his 13th year as Chairman and CEO.

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