Business Context and Reporting Period
Company: AVNET, INC.
Filing Type: Form 8-K (Current Report)
Date of Report: January 19, 2009
Event: Announcement of executive leadership changes within the Avnet Technology Solutions (ATS) division.
Financial Metrics
This filing does not contain financial statements, revenue, profit, cash flow, margin, debt, or liquidity data. The document is limited to reporting a corporate governance event.
Material Changes
The filing reports the following personnel changes effective immediately or in the near future:
- John Paget: Stepped down as Global President of Avnet Technology Solutions (ATS) effective immediately.
- Phillip Gallagher: Promoted from President of Electronic Marketing Americas to Global President of ATS, effective March 2, 2009.
- Rick Hamada: Chief Operating Officer of Avnet, will assume the interim role of ATS President until Gallagher's appointment takes effect.
Guidance, Outlook, and Risks
The filing contains no financial guidance, outlook, management commentary on market conditions, or discussion of risks and contingencies. The sole purpose is to disclose the leadership transition.
Key Facts for Investor Verification
- Verify the effective date of Phillip Gallagher's appointment (March 2, 2009).
- Confirm the interim leadership structure under Rick Hamada.
- Review the attached press release (Exhibit 99.1) for additional context on the strategic rationale for the change.