Avnet BOD Officially Appoints Ken A. Jacobson as Chief Financial Officer

Rhea-AI Summary

Avnet has officially appointed Ken A. Jacobson as its new Chief Financial Officer (CFO). Jacobson, who previously served as Avnet's interim CFO and held roles since 2013, brings extensive experience in finance and leadership within the company. His appointment aims to bolster Avnet's finance team as it approaches its second century of operations. CEO Phil Gallagher emphasized Jacobson's ability to balance business objectives and financial outcomes, marking a strategic move for the company's future.

Positive

• Ken A. Jacobson's extensive experience within Avnet strengthens leadership continuity.
• Jacobson's prior role as interim CFO demonstrates familiarity with the company's financial operations.

Negative

• None.

PHOENIX--(BUSINESS WIRE)-- The Avnet (Nasdaq: AVT) Board of Directors (BOD) voted to officially appoint Ken A. Jacobson as the Company’s Chief Financial Officer (CFO) reporting to Avnet’s Chief Executive Officer Phil Gallagher.

New Avnet Chief Financial Officer Ken A. Jacobson (Photo: Business Wire)

Jacobson, age 44, joined Avnet in 2013 as Vice President and Corporate Controller and served as Avnet’s interim CFO in 2017-2018. As corporate controller, Jacobson had global leadership responsibility for the finance organizations within each of Avnet’s business units, as well as management oversight of Avnet’s global supply chain engagements.

“Ken is the ideal person to lead Avnet’s finance team into our next century of doing business,” said Avnet CEO Phil Gallagher. “He is experienced in developing strong, collaborative cross-functional relationships and balancing business objectives with financial outcomes.”

Jacobson came to Avnet with 12 years of public accounting and industry experience working with a variety of public, private and international companies across various industries including technology, manufacturing and distribution. He holds a bachelor’s degree in accounting from the University of Washington.

About Avnet

As a leading global technology distributor and solutions provider, Avnet has served customers’ evolving needs for an entire century. We support customers at each stage of a product’s lifecycle, from idea to design and from prototype to production. Our unique position at the center of the technology value chain enables us to accelerate the design and supply stages of product development so customers can realize revenue faster. Decade after decade, Avnet helps 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/20220906005185/en/

Investor Relations Contacts

Joe Burke, 480-643-7431

Joseph.Burke@avnet.com

Media Relations Contact

Jeanne Forbis, 480-643-7499

Jeanne.Forbis@Avnet.com

Source: Avnet

FAQ

Who is Ken A. Jacobson, the new CFO of Avnet?

Ken A. Jacobson has been appointed as Avnet's Chief Financial Officer, having previously served as the company's interim CFO and Corporate Controller.

What experience does Ken A. Jacobson bring to his role as CFO of Avnet?

Jacobson brings nearly a decade of experience at Avnet, including leadership in finance for all business units and prior roles in public accounting.

What did CEO Phil Gallagher say about Ken A. Jacobson's appointment as CFO?

CEO Phil Gallagher highlighted Jacobson's capacity to foster cross-functional relationships and align business goals with financial outcomes.

When was Ken A. Jacobson appointed as CFO of Avnet?

Ken A. Jacobson was officially appointed as CFO of Avnet according to a press release issued recently.