Award recognizes Vallee’s vision, leadership and impact on the community
PHOENIX--(BUSINESS WIRE)--Avnet, Inc. (NYSE: AVT), a leading global technology distributor, today announced that Roy Vallee, executive chairman of Avnet, Inc., was honored with the "OneNeck IT Services People's Choice Lifetime Achievement Award" during the annual Governor's Celebration of Innovation event on November 17, 2011.
“Roy is the definition of a role-model leader, one who has greatly impacted the technology industry here in Arizona,” said Steven G. Zylstra, president and CEO of the Arizona Technology Council. “His long-term vision and inspirational leadership helped transformed Avnet into a multi-billion dollar world-class enterprise, which has made Arizona a better place for technology and a better place to live.”
Commenting on his award, Vallee said, “In many ways, this award recognizes the employees of Avnet, whose demonstrated adaptability and commitment to our vision and core values has truly made the difference in our success over time. This award is also shared with my wife, Cindy, and my family who have supported my demanding schedule for many years. I would also like to express my sincere thanks to Steve Zylstra for his tremendous leadership at the Arizona Technology Council and for helping make Arizona a great place for Avnet and technology companies to call home.”
Vallee began a career in technology distribution working in the warehouse stocking shelves and joined Avnet in 1977. He rose through the Avnet sales and management ranks to be named COO in 1992. Six years later, he took the helm as chairman of the board and chief executive officer, and, under his leadership, Avnet grew from $6 billion to over $26 billion in sales in fiscal year 2011. In July 2011, Vallee relinquished his CEO duties and stepped into his new role as Avnet’s executive chairman.
During his tenure as CEO, Vallee accelerated Avnet's success as an industry consolidator and was instrumental in Avnet's acquisition of 47 companies to increase geographic coverage, scale and scope, and shareholder value. He also introduced value-based management to Avnet in 2001, which emphasizes return on capital employed and economic profit growth. Employees have embraced the concept and continue to contribute considerable improvements to Avnet's overall financial performance, including cash flow. Under Vallee's leadership, Avnet was named No. 1 by Fortune on its "Most Admired Companies" list in the Wholesaler: Electronics category for three years in a row.
He is active in the community in various advisory roles. In May 2008, then-Arizona Governor Janet Napolitano invited him to be a founding member of the Governor's Council on Innovation and Technology and later to join the board of the Arizona Economic Resource Organization, a private nonprofit group seeking to boost the state's economic development. From 2009 to 2011 Vallee served on the executive committee of the Arizona Commerce Authority, which is tasked with recommending changes to the state's department of commerce and providing for a stronger statewide economic development model. In 2011, he was again appointed to its board of directors by current Arizona Governor Jan Brewer.
In January 2010, he was named to the Twelfth District Economic Advisory Council for the Federal Reserve Bank of San Francisco (FRBSF). Economic Advisory Council members provide information on current and pending developments in the regional and national economy.
Vallee also participates in Greater Phoenix Leadership, a nonprofit organization consisting of Phoenix executive leaders, which provides a forum through which corporate leadership can effectively and efficiently collaborate with the public sector and nonprofits to establish and sustain a safe, healthy and prosperous community.
He is a member of the boards of directors of two other publicly held companies: Teradyne (NYSE: TER), a leading automated testing company for the semiconductor industry, and Synopsys, Inc. (Nasdaq: SNPS), the leading supplier of electronic design automation software.
In May 2007, Vallee was inducted into the CRN Industry Hall of Fame, which recognizes individuals who have transformed the technology industry with new ideas, revolutionary concepts and ingenious technology. In November 2008, the National Electronic Distributors Association awarded Vallee with its highest honor, the Gail S. Carter Award, for his significant contributions to the electronic components industry. In May 2011, he was honored with a Lifetime Achievement Award from the Phoenix Business Journal.
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About Avnet, Inc.
Avnet, Inc. (NYSE: AVT), a Fortune 500 company, is one of the largest distributors of electronic components, computer products and embedded technology serving customers in more than 70 countries worldwide. Avnet accelerates its partners' success by connecting the world's leading technology suppliers with a broad base of more than 100,000 customers by providing cost-effective, value-added services and solutions. For the fiscal year ended July 2, 2011, Avnet generated revenue of $26.5 billion. For more information, visit www.avnet.com.
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Avnet, Inc.
Michelle Kershner, 480-643-7658
michelle.kershner@avnet.com