Avnet Elevates Hamada to CEO Position
March 21, 2011 Timothy Prickett Morgan
Master IT and electronic components distributor Avnet has promoted an insider to take over the day-to-day running of the company. Roy Vallee, who is currently Avnet’s chief executive officer and chairman, will step away from the CEO position on July 4, yielding it to long-time Avnet insider Rick Hamada, who is currently the company’s president and chief operating officer. Vallee is sticking around to be executive chairman, and Hamada has been appointed to the Avnet board of directors. Avnet said that the move was the culmination of a multi-year CEO succession plan. It is not clear if the company considered |