Avnet has appointed William ("Bill") J. Amelio as its chief executive officer. In July, the company had appointed Amelio as interim CEO. Amelio is also a member of the company's board of directors.
"For me, Avnet is all about passion and possibilities," said Amelio in a written statement. "We have an experienced management team and an engaged workforce comprised of talented employees who are dedicated to serving our customers, suppliers and partners. By better aligning these resources with our competitive solutions specialist, embedded and supply chain strengths, Avnet will undoubtedly be positioned to achieve profitable growth for our shareholders and deliver upon the ever growing market potential in our industry."
Amelio has held senior management roles at global technology enterprises and publicly traded companies over the past 25 years. Most recently, he was president, chief executive officer and a director of CHC Group Ltd., an international oil-field services company. From 2005 to 2009, he served as president and chief executive officer of Lenovo. Amelio holds a chemical engineering degree from Lehigh University and a master's degree in management from Stanford University.
Rick Hamada, the company's previous chief executive, stepped down earlier this summer. Hamada had been in the position since 2011. He also left the company's board of directors. Hamada's departure was sudden, and the company did not offer reasons for the change, leaving room for speculation.
Recently, Avnet's sales performance has dipped. For fiscal 2016, Avnet reported sales of $26.2 billion, down 6.1% year over year. Avnet is the largest electronics distributor in the world, taking the top spot in EBN's listing of Top 25 Global Franchised Distributors.
— Hailey Lynne McKeefry, Editor in Chief, EBN