Avnet names new CEO

Global technology distributor Avnet has named Rick Hamada as its new chief executive officer. He will assume the new role in 2012, succeeding Roy Vallee, who will continue to serve as Avnet's executive chairman with focus on a smooth transition and be involved in selected strategic activities.
Hamada joined Avnet in 1983 as a technical support specialist and rose through the ranks to take on key leadership responsibilities in sales, marketing and business development.
In 2006 he was named COO and has been directly responsible for Avnet's two operating groups, electronics marketing and technology solutions, as well as global logistics operations, information technology, operational excellence and business innovation.
Vallee has been with Avnet for 34 years and served as chairman and CEO for the past 13 years. During his tenure as CEO, Avnet quadrupled sales while significantly improving return on capital employed and cash flow by establishing and driving value-based management principles globally.