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Avnet Announces Changes to its Board of Directors

November 16, 2018

PHOENIX--(BUSINESS WIRE)--Nov 16, 2018--Avnet (Nasdaq: AVT ), a leading global technology solutions provider, announced several changes to the Company’s Board of Directors. Rodney C. Adkins has been elected as Chairman of the Board. Adkins has been a board member since 2015. He succeeds William H. Schumann III, who has served as Chairman since 2012, been a director since 2010, and will remain on the Board of Directors. Brenda Freeman has been elected to the Board by the shareholders, while long-time board member, J. Veronica Biggins, has retired from the Board.

“Rod has a proven track record for leadership in the tech industry. I value the expertise and insight he has provided during his time on the Board. I look forward to working with him in the Chairman role to continue our momentum with a focus on driving growth and value to our shareholders,” said Schumann.

Newly elected to the Board, Freeman is the Chief Marketing Officer (CMO) at Magic Leap, a private company focused on virtual retinal displays. Prior to Magic Leap, Freeman served as CMO for National Geographic Channel and National Geographic WILD. Freeman also serves as an independent board director for Caleres and Herman Miller, Inc. She received a B.S. in Chemical Engineering and a joint M.B.A. in finance and marketing from the University of Maryland, College Park. Freeman will serve on the Audit and Corporate Governance Committees of the Board.

“I want to welcome Brenda to Avnet’s Board of Directors. She brings a fresh perspective to the Board with her unique understanding of technology and creative design experience combined with her exceptionally strong background in broadcast marketing,” commented Schumann.

After 21 years of exemplary service to Avnet, Veronica Biggins is retiring from Avnet’s Board of Directors. She was first elected to the Board in 1997, and during her tenure, she served on the Audit and Compensation Committees and chaired the Corporate Governance Committee.

All changes to Avnet’s Board of Directors were effective immediately following the 2018 Annual Shareholder Meeting.

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All brands and trade names are trademarks or registered trademarks, and are the properties of their respective owners. Avnet disclaims any proprietary interest in marks other than its own.

About Avnet

Avnet is a global technology solutions provider with an extensive ecosystem delivering design, product, marketing and supply chain expertise for customers at every stage of the product lifecycle. We transform ideas into intelligent solutions, reducing the time, cost and complexities of bringing products to market. For nearly a century, Avnet has helped its customers and suppliers around the world realize the transformative possibilities of technology. Learn more about Avnet at  www.avnet.com. (AVT_IR)

View source version on businesswire.com:https://www.businesswire.com/news/home/20181116005505/en/

CONTACT: Media Relations Contact

Maureen O’Leary

Maureen.OLeary@avnet.com

480-643-7499

Investor Relations Contact

Ina McGuinness

investorrelations@avnet.com

480-643-7053

KEYWORD: UNITED STATES NORTH AMERICA ARIZONA

INDUSTRY KEYWORD: TECHNOLOGY DATA MANAGEMENT ELECTRONIC DESIGN AUTOMATION HARDWARE NETWORKS SOFTWARE OTHER TECHNOLOGY SECURITY SEMICONDUCTOR

SOURCE: Avnet

Copyright Business Wire 2018.

PUB: 11/16/2018 04:05 PM/DISC: 11/16/2018 04:05 PM

http://www.businesswire.com/news/home/20181116005505/en

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