Chris Stansbury to Depart From Arrow Electronics, Inc.

Rhea-AI Summary

Arrow Electronics (NYSE:ARW) announced the departure of Christopher D. Stansbury, the CFO, effective April 1, 2022. The company has engaged an executive recruitment firm to find a new CFO. Rick Seidlitz, currently the vice president and corporate controller, will take over as the interim principal financial officer. It's important to note that Stansbury's exit is not linked to the company’s operations, financial reporting, or internal controls. Arrow generated $34 billion in sales in 2021, supporting over 220,000 technology manufacturers and service providers.

CENTENNIAL, Colo.--(BUSINESS WIRE)--

Arrow Electronics, Inc. (NYSE:ARW) announced the departure of Christopher D. Stansbury, senior vice president and chief financial officer, effective Apr. 1, 2022.

Arrow Electronics has retained the services of an executive recruitment firm and a search for a new chief financial officer is underway. In the interim, Rick Seidlitz, vice president, corporate controller, and principal accounting officer, will assume the responsibilities of the principal financial officer.

Mr. Stansbury's departure is not related to the Company's operations, financial reporting, or controls.

Arrow Electronics guides innovation forward for over 220,000 leading technology manufacturers and service providers. With 2021 sales of $34 billion, Arrow develops technology solutions that improve business and daily life. Learn more at fiveyearsout.com.

Category: Investor Relations

View source version on businesswire.com: https://www.businesswire.com/news/home/20220328005127/en/

Contact:

Steven O’Brien

Vice President, Investor Relations

303-824-4544

Media Contact:

John Hourigan

Vice President, Global Communications

303-824-4586

Source: Arrow Electronics, Inc.

FAQ

Who is the new interim CFO of Arrow Electronics?

Rick Seidlitz has been named the interim principal financial officer of Arrow Electronics.

When did Christopher D. Stansbury leave Arrow Electronics?

Christopher D. Stansbury's departure from Arrow Electronics became effective on April 1, 2022.

Is Christopher D. Stansbury's departure related to the company's performance?

No, his departure is not related to the company's operations, financial reporting, or controls.

What were Arrow Electronics' sales figures in 2021?

Arrow Electronics reported sales of $34 billion in 2021.

How many technology manufacturers does Arrow Electronics support?

Arrow Electronics supports over 220,000 leading technology manufacturers and service providers.