William Austen, a Board Member, has been named Interim President and CEO or Arrow Electronics to succeed Sean Kerins.
Latest In Arrow Electronics
The company cited a persistent “broader ecosystem inventory correction” causing a challenging market.
ArrowSphere platform now provides channel partners and vendors access to Arrow’s services through a single interface.
More than a handful of companies on MDM's 2022 Top Distributors list garnered the reputation-based honor from Fortune.
The Colorado-based company named Sean J. Kerins president and CEO and posted 1Q sales of more than $9 billion.
Christopher D. Stansbury is expected to depart from the company Friday, Colorado-based distributor Arrow Electronics said.
The electronic components distributor reported 2021 4Q sales of $9.02 billion and year-end sales of $34.48 billion.
The company’s board of directors approved plans to re-buy up to $600 million of common stock through a share repurchase program.
Electronic components distributor had 2021 third-quarter sales of more than $8.5 billion, an 18% increase over the same period in 2020.
Arrow reports that global sales of electronic components and solutions increased 40% to $6.6 billion.
Arrow Electronics’ 1Q profit totaled $206.32 million compared to $49.50 million in the same quarter a year ago.
For the fourth quarter, however, Arrow reported that sales increased 15.2% to 8.5 billion.
Sean J. Kerins has been named the electronics distributor’s new COO; he will continue to report to Michael J. Long, Arrow’s chairman, president and CEO.
Andy King is set to step down from his role at Arrow after 34 years with the electronics distributor; David West will replace him as president of Arrow's global components division.
Arrow reports that global sales of electronic components and solutions increased 5% to 5.3 billion.
Acquisition will strengthen company's IoT and technology design capabilities.
Electronics distributor also announces Chris Stansbury will replace Paul Reilly as CFO.
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Company's sales increase 5.5 percent in fourth quarter.
