Business Context and Reporting Period
Company: AVNET, INC.
Filing Type: Form 8-K (Current Report)
Date of Report: July 15, 2008
Event Date: July 15, 2008 (Effective date of board changes)
Financial Metrics
This filing does not contain financial statements, revenue, profit, cash flow, margin, debt, or liquidity data. The report focuses exclusively on corporate governance changes.
Material Changes
The filing reports the following changes to the Board of Directors effective July 15, 2008:
- Resignation: James A. Lawrence resigned from the Board of Directors due to a change in employment requiring relocation to Europe. He previously served on the Audit Committee and Finance Committee.
- Appointment: William P. Sullivan, President and CEO of Agilent Technologies Inc., was appointed to the Board of Directors. His term expires at the 2008 Annual Meeting of Shareholders. No committee assignments were made at the time of appointment.
Guidance, Outlook, and Risks
The filing does not provide financial guidance, management commentary on operations, risk factors, contingencies, or unusual items. It references a press release (Exhibit 99.1) for further details on the board changes.
Key Facts for Investor Verification
- Verify the impact of James A. Lawrence's departure on the composition of the Audit and Finance Committees.
- Confirm the specific term length and future committee assignments for the new director, William P. Sullivan.
- Review the attached press release (Exhibit 99.1) for any additional context regarding the board transition.