Avnet 2000 Annual Report Download - page 18

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Name/ Year Elected to Board
RAY M. ROBINSON - 2000
President, AT&T Southern Region
Consumer Long Distance Division
EHUD HOUMINER - 1993
Professor and Executive-in-Residence,
Columbia University Business School
FREDERICK S. WOOD - 1992
Consultant, General Dynamics Corp.,
Formerly Executive Vice President (Ret.)
JOSEPH F. CALIGIURI - 1992
Executive Vice President,
Litton Industries, Inc. (Ret.)
J. VERONICA BIGGINS - 1997
Senior Partner, Heidrick & Struggles, International,
Formerly Assistant to President Clinton
and Director of Presidential Personnel
FREDERIC SALERNO - 1993
Vice Chairman and Chief Financial Officer,
Verizon Communications (formerly Bell Atlantic)
ROY VALLEE - 1991
Chairman and Chief Executive Officer, Avnet, Inc.
SALVATORE J. NUZZO - 1982
Chairman and Chief Execuitve Officer, Datron, Inc.
Chairman, Marine Mechanical Corp.
JAMES A. LAWRENCE - 1999
Executive Vice President and Chief Financial Officer,
General Mills, Inc.
ELEANOR BAUM - 1994
Dean, School of Engineering,
The Cooper Union, New York
LAWRENCE W. CLARKSON - 1998
Senior Vice President,
The Boeing Company (Ret.)
GARY L. TOOKER - 2000
Senior Advisor, Morgan Stanley Dean Witter Private Equity,
Former Chairman and CEO, Motorola, Inc. (Ret.)
BOARD OF DIRECTORS
(Pictured left to right)
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company. EM is now operating a warehouse in Shanghai’s Free Trade Zone, and is
one of only eight non-Chinese companies to achieve this advantage. EM can import
and sell directly to customers throughout China. EM’s Greater China Strategy and
complementary organizational structure are designed to achieve a leadership position
in the China market. Toward this end, strategic IMS engagements with customers
have been initiated inside the country.
EM is in the process of rolling out Avnet Design Centers throughout Asia. It is opening
an RF/ Wireless Design Center in Singapore to complement existing Design Centers
in Bangalore, India; Auckland, New Zealand and Hong Kong.
Avnet Asia aims to be the preferred provider of global supply-chain management and
turnkey design services to customers and suppliers. The Asian electronics market is
experiencing explosive growth and is offering tremendous opportunities for Avnet –
especially in China.
LOOKING AHEAD AT EM GLOBAL
Sales growth and continued improvements in profitability are anticipated, based on
strong market conditions, strategic acquisitions made in FY’00, new acquisitions
planned for FY’01 and increased market share for Avnet. The acquisitions bring
synergies, economies of scale and additional talented people to the Avnet team. The
semiconductor components industry is currently in the midst of an exciting upturn, yield-
ing a very positive market environment for Avnet. The upturn is causing average selling
prices and gross profit to rise, contributing greatly to the strong results articulated in
this Report. The EM global management team anticipates this positive environment will
continue, and expects further industry consolidation in FY’01.
Avnet executives traveled to
Seoul, South Korea, to welcome
the Company’s newest acquisi-
tion there, the highly successful
Cosco/ Jung Kwang group,
which is now Avnet Korea.