Avnet Names Rick Hamada CEO Effective July 4
July 4, 2011, will not only mark the 235th anniversary of America’s freedom, it also will mark the effective start of Rick Hamada as CEO of distribution giant Avnet. Read on for the details regarding his new appointment.
Hamada, currently COO, will take the reins from current and longtime CEO Roy Vallee, who is expected to continue on as executive chairman. The distributor noted the move is part of a calculated “multi-year” CEO succession plan, one that also includes adding Hamada to the board of directors, effective immediately.
As CEO, Hamada will take the helm of a company that has been making waves in the distribution community over the past 12 months, including a string of acquisitions and divestitures and additions to its services palette to assist its reseller customers. So far, 2011 finds the company looking for ways to grow via the cloud and targeting vertical and horizontal market opportunities.
Hamada was chosen as CEO in part because of his tenure at Avnet — he started with the company in 1983 and served as president of the Avnet Technology Solutions group from January 2002 until 2006, when he was named COO. Avnet cited Hamada’s leadership values, goal-reaching and business innovation as hallmarks of Hamada’s succession through Avnet’s ranks.
Vallee will take on a broader leadership role on the board and ensure a smooth transition for Hamada, according to Avnet. He also will remain actively involved in future key businesses decisions.