Avnet (NYSE: AVT),
a leading global technology distributor and solutions provider, today
announced that Tom Liguori has been named chief financial officer (CFO),
reporting to Bill Amelio, Avnet’s chief executive officer. Liguori, age
59, has more than 30 years of finance and operations experience, and
comes to Avnet from Advanced Energy Industries, Inc., a leading product
and services provider for semiconductor and industrial power
applications, headquartered in Fort Collins, Colorado, where he has
served as CFO for the past two and half years. His start date is January
29, 2018.
Commenting on the new appointment, Amelio said, “Tom’s impressive track
record and expertise, combined with his experience helping transform
businesses to drive financial growth and shareholder value, made him the
ideal choice to be our new CFO. As we continue to build out our unique
solutions ecosystem, we are certain Tom’s ability to partner across all
levels of the organization will expedite our progress while laying the
groundwork for future strategic investments and acquisitions.”
While at Advanced Energy, Liguori helped transform the company into a
top financial performer in the industry by streamlining the cost
structure, implementing shared service centers, reducing working
capital, upgrading the business systems, and fostering a culture of
continual improvement. He also previously served as executive vice
president and chief financial officer of MFLEX, a global provider of
flexible circuits and assemblies for smartphones and tablets, where he
built and oversaw the finance and information technology teams during a
period of high growth in the smartphone industry.
Liguori has a Master of Business Administration in finance from Arizona
State University and a bachelor’s degree in business administration from
Boston University. He is a certified management accountant and a
certified financial manager.
Ken Jacobson, Avnet’s controller, has been the interim CFO since August
when the company’s CFO made the decision to step down from the position.
Jacobson will be part of new CFO Tom Liguori’s staff and will play a key
role in helping Liguori transition into his new role at Avnet.
Amelio added, “Ken did a great job these past five months, and is an
excellent example of the deep executive bench strength we have here at
Avnet. I want to thank him for the outstanding job he did as interim CFO
as we made steady progress on our financial commitments under his
leadership.”
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About Avnet
From idea to design and from prototype to production, Avnet supports
customers at each stage of a product’s lifecycle. A comprehensive
portfolio of design and supply chain services makes Avnet the go-to
guide for innovators who set the pace for technological change. For
nearly a century, Avnet has helped its customers and suppliers around
the world realize the transformative possibilities of technology. Learn
more about Avnet at Avnet.com.
Visit the Avnet Investor Relations website at www.ir.avnet.com or
contact us at investorrelations@avnet.com.
Avnet
Investor Relations Contact
Vincent Keenan, 480-643-7053
Investor Relations
investorrelations@avnet.com
or
Media Relations Contact
Maureen O’Leary, 480-643-7499
Corporate Communications
maureen.oleary@avnet.com