Avnet 2002 Annual Report Download - page 8

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6
distinctive value
Our goal: Create shareholder
value. Our measure: Return
on capital employed and
earnings growth. Our strategy:
Value-based management from
the warehouse to the boardroom.
Further, our focused, specialized division structure, the expansion of fee-based services in
existing and new, potentially more profitable markets, and continued firm expense control
should accelerate the Company’s earnings growth. By offering valued services that span the
technology supply chain, Avnet is creating a balanced revenue portfolio aimed squarely at
continual improvement in earnings growth stability. At the front end of the technology supply
chain, Computer Marketing markets high-end enterprise computing products and services to
global companies. At the back end, Electronics Marketing sells electronic components and
services to electronics manufacturing customers. And in the middle, Applied Computing serves
the needs of original equipment manufacturers with today’s most advanced embedded computing
products and services.
UNPRECEDENTED FUTURE
Despite continued industry and global economic volatility, one thing is certain: technology is
tightly woven into the fabric of the global economy and will remain a critical driver well into
the future.The technology market has traditionally grown faster than the gross domestic
product, and Avnet intends to outperform the tech market, as it has done historically.
Avnet’s ability to continually and aggressively adjust to the dynamic technology market is
testament to the knowledge, hard work and dedication of the Avnet team, and to the
effectiveness of our Company’s organizational development and succession planning activities.
A prime example: the management changes that followed Brian Hilton’s June retirement. Leading
Electronics Marketing, Mr. Hilton played a key role in the operating group’s successful expansion
into Asia.With 36 years in the industry his legacy is undeniable, yet his retirement opened the