Avnet Names Kevin Moriarty Chief Financial Officer

  Avnet Names Kevin Moriarty Chief Financial Officer

Succeeds Ray Sadowski Effective January 2, 2013

Business Wire

PHOENIX -- December 10, 2012

Avnet, Inc. (NYSE:AVT), a leading global technology distributor, today
announced that it has named Kevin Moriarty as Avnet Chief Financial Officer
(CFO), effective January 2, 2013. As announced in April, Avnet’s current Chief
Financial Officer Ray Sadowski will be retiring from his position after 20
years as CFO. Moriarty was selected to succeed Sadowski based on a strong
blend of operational experience plus broad financial and accounting expertise.
He comes to Avnet from Honeywell International, Inc. where he was CFO for the
company’s $12 billion global aerospace business. To help ensure a smooth and
seamless transition, Sadowski, who joined Avnet in 1978, will continue with
the company in a senior advisory role.

Kevin Moriarty, incoming Chief Financial Officer of Avnet, Inc. (Photo:
Business Wire)

Kevin Moriarty, incoming Chief Financial Officer of Avnet, Inc. (Photo:
Business Wire)

“Kevin brings the broad base of global and financial experience plus the
skills that we were looking for in a finance leader,” said Avnet Chief
Executive Officer Rick Hamada. “With his strong track record of success while
building high performance teams, I am confident he is an excellent choice for
Avnet as we continue to grow and enhance our financial performance. Kevin is a
great addition to our senior executive team.”

Moriarty’s experience includes leading a global team of more than 1,000
finance professionals, supporting 95 sites around the world. He was heavily
involved in several large Honeywell acquisitions and divestitures and also
worked with Honeywell’s Investor Relations team in engaging with the external
investment community. He has been with Honeywell for 10 years in a series of
progressively responsible positions, joining them in 2002 as controller for
the Automation and Control Solutions Division and led their internal audit
team following his promotion in 2004 to vice president of Finance overseeing
Corporate Audit.

Prior to joining Honeywell, Moriarty was with Bristol-Myers Squibb and also
spent more than 12 years in public accounting with PricewaterhouseCoopers,
where he was an audit partner. He is a Certified Public Accountant and holds a
Bachelor’s of Science degree in Accounting from Rutgers.

Hamada added, “Ray has made significant contributions to our success over the
years, leading and guiding our finance team globally and providing valuable
counsel to our business leaders. We appreciate and value his proactive
willingness to assist us through this critical succession. He is an
inspirational leader and we are glad to have him as a key member of our
leadership team.”

About Avnet

Avnet, Inc. (NYSE: AVT), a Fortune 500 Company, is one of the largest
distributors of electronic components, computer products and embedded
technology serving customers globally. Avnet accelerates its partners' success
by connecting the world's leading technology suppliers with a broad base of
customers by providing cost-effective, value-added services and solutions. For
the fiscal year ended June 30, 2012, Avnet generated revenue of $25.7 billion.
For more information, visit www.avnet.com. (AVT_IR)

Visit Avnet's Investor Relations website at www.ir.avnet.com or contact us at
investorrelations@avnet.com.

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Contact:

Avnet, Inc.
Vince Keenan, 480-643-7053
VP, Investor Relations
investorrelations@avnet.com
or
Michelle Gorel, 480-643-7653
VP, PR & Corporate Communications
michelle.gorel@avnet.com
 
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