Avnet Announces New Corporate Management Structure and Related Promotions.PHOENIX--(BUSINESS WIRE)--August 5, 1998--Roy Vallee, Chairman and Chief Executive Officer of Avnet, Inc. (NYSE NYSE See: New York Stock Exchange :AVT AVT avian arginine vasotocin. See vasotocin. ), announced today a new management structure for Avnet. These changes are designed to increase Avnet's focus on its core businesses of distributing and adding value to computer products and electronic components globally. "Rather than installing a new President and Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of Avnet, Inc., we have formed two global strategic business units, each led by its own executive management," stated Mr. Vallee. Rich Ward will continue as President of Avnet's Computer Marketing Group. This group now accounts for over twenty-five percent of Avnet's business. With business units in the Americas, Australia, Germany and Great Britain Great Britain, officially United Kingdom of Great Britain and Northern Ireland, constitutional monarchy (2005 est. pop. 60,441,000), 94,226 sq mi (244,044 sq km), on the British Isles, off W Europe. The country is often referred to simply as Britain. , Mr. Ward is now focused on the continued global expansion of this organization. Steve Church and Brian Hilton have both been promoted to President of Avnet's Electronics Marketing Group. Mr. Church and Mr. Hilton will reside within the newly created Office of the President. Mr. Church will continue to be responsible for the profit and loss of the Americas geography for the Electronics Marketing Group. In addition to his Americas responsibility, Mr. Church will also manage the global functions of Customer Management, Avnet's Integrated Material Services (IMS (1) See IP Multimedia Subsystem. (2) (Information Management System) An early IBM hierarchical DBMS for IBM mainframes. IMS was widely implemented throughout the 1970s under MVS and continues to be used under z/OS. ), and Avnet's Allied broad-line small order specialist business. Mr. Hilton will maintain his responsibilities for the profit and loss of both Avnet's Asia operations as well as its Europe, Middle East, and Africa (EMEA (Europe, Middle East, Africa) Refers to that region of the world. For example, one might see products packaged differently for the UK, EMEA and Asia Pacific markets. ) businesses for the Electronics Marketing Group. Additionally, Mr. Hilton will have global responsibility for Avnet Design Services, Avnet Personal Computer Components, and Global Supplier Relationships. Rounding out the new Avnet, Inc. structure are the five corporate organizations whose responsibilities transcend both the Computer Marketing and Electronics Marketing Groups: Chief Legal Counsel David Birk Chief Financial Officer Raymond Sadowski Chief Communications Officer The chief communications officer or CCO is a job title for the head of communications, public relations and/or public affairs within an organization. Most typically, the CCO reports to the chief executive officer (CEO) of a corporate entity or president of an operating unit. Allen Maag Director of Strategic Planning Strategic planning is an organization's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy, including its capital and people. John Hovis Sr. VP Global Operations Global Operations is a first-person shooter computer game developed by Barking Dog Studios and published by both Crave Entertainment and Electronic Arts. It was released in March of 2002, following its public multiplayer beta version which contained only the Quebec map. Tony DeLuca "I have absolute confidence in this team to take Avnet into the new millennium," stated Mr. Vallee. "Avnet today has the only truly global structure in our industry focused on providing the highest value relationships to our customers, suppliers, and employees." Headquartered in Phoenix, Arizona, Avnet, Inc. is a Fortune 500 Company with annual sales exceeding $5.9 billion. With sales in 57 countries, Avnet markets, inventories, and adds value to the products of the most prestigious electronic components and computer equipment manufacturers for customers worldwide. The Avnet home page is located at www.avnet.com.
CONTACT: Avnet Inc.
John Cole, Controller
Raymond Sadowski, SVP & CFO
Tel: 516/466-7000
Fax: 516/466-1203, 1204
Internet: http://www.avnet.com
e-mail: john.cole@avnet.com
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