Avnet Named as a 2014 World’s Most Ethical Company by the Ethisphere
Avnet’s commitment to integrity in business validated by ethical company award
PHOENIX -- March 20, 2014
Avnet, Inc. (NYSE:AVT), a leading global technology distributor, announced
today that it has been recognized by the Ethisphere Institute, an independent
center of research promoting best practices in corporate ethics and
governance, as a 2014 World’s Most Ethical Company^®.
This is Avnet’s first year being honored with this award, which recognizes
organizations that continue to raise the bar on ethical leadership and
corporate behavior. World’s Most Ethical Company honorees understand the
correlation between ethics, reputation and daily interactions with their brand
and that the award belongs as much to their employees as it does to them.
Avnet is one of only five companies in the electronics industry honored this
“As a global organizationentrusted by the world’s leading technology
companiesto service a broad base of customersaround the world, ethics and
integrity are core to Avnet’s success,” said Rick Hamada,chief executive
officer of Avnet, Inc.“Integrity is not just included inAvnet’s core values,
it is our number one core value. This recognition from the Ethisphere
Institute validates what our employees around the world demonstrate every
day—that integrity mattersand is a critical part of what makes Avnet a
trulypremier global business partner, employer and industry leader.”
Avnet continues to invest in many initiatives to enhance and expand its
compliance, ethics, governance, sustainability, and community outreach
programs. The company was recognized in part due to the effectiveness and
influence of its compliance and ethics functions throughout the organization.
“We have one compliance standard for the company—full legal compliance and
uncompromised business ethics,” said Harvey Woodford, chief ethics and
compliance officer, Avnet, Inc. “Avnet’s inclusion on the list of the World’s
Most Ethical Companies reflects our global team’s commitment to ethical
business practices around the world.”
“The entire community of World’s Most Ethical Companies believe that
customers, employees, investors and regulators place a high premium on trust
and that ethics and good governance are key in earning it,” said Ethisphere’s
chief executive officer, Timothy Erblich. “Avnet joins an exclusive community
committed to driving performance through leading business practices. We
congratulate everyone at Avnet for this extraordinary achievement.”
The World's Most Ethical Company assessment is based upon the Ethisphere
Institute’s Ethics Quotient™ framework. The Ethics Quotient framework has been
developed over years of effort to provide a means to assess an organization’s
performance in an objective, consistent and standardized way. The information
collected provides a comprehensive sampling of definitive criteria of core
competencies, rather than all aspects of corporate governance, risk,
sustainability, compliance and ethics. The Ethics Quotientframework and
methodology was determined, vetted and refined by the expert advice and
insights gleaned from Ethisphere’s network of thought leaders and from the
World’s Most Ethical Company Methodology Advisory Panel.
Scores are generated in five key categories: ethics and compliance program
(25%), reputation, leadership and innovation (20%), governance (10%),
corporate citizenship and responsibility (25%) and culture of ethics (20%).
The full list of the 2014 World's Most Ethical Companies can be found at
Follow Avnet on Twitter: @Avnet
Connect with Avnet on LinkedIn or Facebook:
http://www.linkedin.com/company/2572 or facebook.com/avnetinc
Read more about Avnet on our blogs: http://blogging.avnet.com/
About the Ethisphere Institute
The Ethisphere® Institute is an independent center of research, best practices
and thought leadership that promotes best practices in corporate ethics and
governance and enables organizations to improve compliance, mitigate risk, and
enhance relationships with employees, business partners, investors and the
broad regulatory community. Ethisphere evaluates and benchmarks compliance and
governance programs, honors superior achievement through its World’s Most
Ethical Companies® recognition program and publishes Ethisphere Magazine.
Ethisphere is also the leading provider of independent verification of
corporate ethics and compliance programs that include: Ethics Inside®
Certification, Compliance Leader Verification™ and Anti-Corruption Program
Verification™. More information about Ethisphere can be found at:
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 29, 2013, Avnet generated revenue of $25.5 billion.
For more information, visit www.avnet.com.
All company and product names may be trademarks of the respective companies
with which they are associated.
Brodeur Partners for Avnet, Inc.
Sonia Bovio, +1 480-308-0281
Joal Redmond, +1 480-643-5528
Vice President, Public Relations,
Ethisphere Media Contact
Clea Nabozny, 480-397-2658
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