WASHINGTON (dpa-AFX) - Avnet, Inc. (AVT) said Ray Sadowski, the company's Chief Financial Officer, plans to retire. Accordingly, the company has initiated a search to replace him and has engaged Crist/Kolder Associates, a leading specialist search firm, to assist in this process.
Sadowski has been the company's CFO for the past 19 years. He will remain fully engaged in his current role and responsibilities until his successor is in place and will continue in a senior advisory role as needed to ensure a smooth and seamless transition.
Commenting on the CFO transition, Rick Hamada, chief executive officer, said, 'Ray's 33 total years of service and significant contributions to Avnet's success are deeply appreciated. Although he will certainly be missed, we understand and respect his desire to initiate this personal transition and appreciate his proactive willingness to assist us through this critical succession.'
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