On December 31, Texas Instruments Inc. and Avnet Inc. formally end their 40-year distribution relationship. Avnet’s success in replacing that business – estimated at 10 percent of Avnet’s sales — will be evident in the future, said Phil Gallagher, who was named Avnet’s CEO on November 23. Avnet’s fiscal 2020 sales reached $17.6 billion. TI…
The Dec. 4, 1980 headline was stark: Business executives killed in hotel fire. Among them were Arrow Electronics Inc. CEO B. Duke Glenn; Roger E. Green, executive vice president; and 11 other members of Arrow’s management team. That night, a flash fire swept through the Stouffer’s Conference Center in Harrison, N.Y. Arrow’s senior management team…
Just five years ago, Advanced Micro Devices’ (AMD) acquisition of Xilinx would have sent shockwaves through the distribution channel. Xilinx and archrival Altera, now owned by Intel, were the last holdouts of a practice called shelf-sharing, where two competitors refuse to be sold side by side — “share shelf ” — at a single distributor.…
AMD is said to be negotiating to buy Xilinx, and a deal could come as soon as next week. If the two companies agree, the deal would likely be worth approximately $30 billion, according to The Wall Street Journal. The value of AMD shares has soared of late, which means it should be able to…
The Newark electronics catalog – once known as the “Bible of the industry” — has made significant progress under parent Avnet Inc. and expects additional investment will boost its e-commerce capabilities and restore historically high profit margins. Newark was acquired in 1996 by the UK’s Premier Farnell group. The Newark and Farnell catalogs underwent a…
Two weeks into his tenure as interim Avnet Inc. CEO, Phil Gallagher is crystal clear on his growth plan for the $18 billion global distributor. “We will be absolutely focused on our core strategy — technology distribution — and driving home our value to suppliers and customers right out of the gate,” he said. It’s…
Avnet, Inc. (Nasdaq: AVT) today announced results for its fourth quarter and fiscal year ended June 27, 2020. Fiscal Fourth Quarter Key Financial Highlights: Sales of $4.2 billion, compared with $4.3 billion in the previous quarter and $4.7 billion in the prior year quarter. GAAP diluted earnings per share from continuing operations of $0.53, compared with loss per share of $0.33 a year ago. Non-GAAP adjusted…
Avnet, Inc. (Nasdaq: AVT), a leading global technology solutions provider, today announced that William J. (“Bill”) Amelio is moving on from his role as CEO and as a member of the Avnet Board of Directors. Rodney C. Adkins, Chairman of the Board, said, “Bill has been a great asset since joining Avnet’s Board of Directors in…
Two years ago, the U.S. and China began a tariff war that changed the face of international trade. Tech companies in particular deal with a series of rules and regulations that lack consistency across the globe. Electronics distributors handle many of the components, services and IT equipment that pass through the international supply chain. The…
The global electronics supply chain could be bracing for another disruption as the U.S. government moves to block semiconductor shipments from global chip makers to Huawei Technologies, the Chinese 5G and networking giant. Chip makers deal directly with large global customers such as Huawei, but electronics distributors often manage the logistics of semiconductor shipments to local markets. Most…