Arrow Electronics to Name Francis M. Scricco CEO; Stephen P. Kaufman to Remain as Chairman.

Business Editors

MELVILLE, N.Y.--(BUSINESS WIRE)--May 10, 2000

Arrow Electronics, Inc. (NYSE:ARW) said today that its Board of Directors plans to elect Francis M. Scricco, currently President and Chief Operating Officer, as its next Chief Executive Officer, effective on July 1. The election will occur at the Board of Directors meeting immediately following the annual meeting of Arrow's shareholders on May 23. Mr. Scricco will succeed Stephen P. Kaufman, who will remain active with the corporation as Chairman of the Board.

"Fran Scricco has been an integral part of designing and executing Arrow's strategy for the past three years," said Mr. Kaufman. "He has been the operational head of the company during a period of vital transformation and integration, and has done an exceptional job in leading us through our North American realignment into a customer-focused structure. We're pleased to see him step into the role of Chief Executive Officer and take the reins of leadership as Arrow enters the new millennium."

"I have thoroughly enjoyed being Arrow's CEO for the past 14 years, and now, as Chairman, I would like to focus my time and energies exclusively on broad strategic issues such as Arrow's Internet initiatives, the company's merger and acquisition program, and industry relations. Fran and I have worked well together for the past three years, and I look forward to a smooth transition of our roles as I continue my work as an active Chairman," Mr. Kaufman added.

"Over the past 18 years, Steve Kaufman has guided Arrow from a $500 million company to its position today as the global electronics industry's preeminent distributor, with sales currently running in excess of $11 billion per year," said Mr. Scricco. "Under his leadership, Arrow's market capitalization has increased from $40 million to more than $4 billion and the company is now listed by Fortune magazine as one of the 200 largest public corporations in America. Fortune has also named Arrow among the most admired corporations in America, and one of the 100 best companies to work for in America. I look forward to building on this solid foundation to deliver strong growth and profitability for many years to come."

Mr. Scricco, age 51, joined the company in August 1997 as Executive Vice President and Chief Operating Officer. He was named President in June 1999 and elected to the Board of Directors in August 1999. Before joining Arrow, Mr. Scricco was a Group President at Fisher Scientific International, Inc., a distributor and manufacturer of laboratory, scientific, and medical equipment. Prior to that, he was President of Whirlpool Canada.

His business experience also includes more than six years in a variety of managerial positions at General Electric Company and several years with The Boston Consulting Group, an international management consulting firm. Mr. Scricco received his undergraduate degree in Engineering from Worcester Polytechnic Institute and a Master's degree in Business Administration from the Columbia School of Business.

Mr. Kaufman, age 58, joined Arrow in 1982 as President of the Electronics Distribution Division and in 1985 was appointed President and Chief Operating Officer of the corporation. In 1986 he succeeded John C. Waddell -- one of Arrow's three principal founders -- as Chief Executive Officer, and was elected Chairman of the Board in 1994.

Arrow Electronics is the world's largest distributor of electronic components and computer products. Headquartered in Melville, New York, Arrow serves as a supply channel partner for more than 600 suppliers and 175,000 original equipment manufacturers and commercial customers through more than 225 sales facilities and 19 distribution centers in 37 countries. Detailed information about Arrow's operations can be found at www.arrow.com.