Phoenix Business Journal Honors Avnet Chairman and CEO Roy Vallee with Lifetime Achievement Award

PHOENIX--May 21, 2011: Avnet, Inc., a leading global technology distributor, has announced that Roy Vallee, chairman and CEO of Avnet, Inc., was honored with a Lifetime Achievement Award from the Phoenix Business Journal during its third annual Most Admired CEOs Awards Dinner on May 19th. The award recognizes Vallee’s vision, leadership of Avnet and service to the community.

“Roy is a role-model leader, one who has made a huge impact both at Avnet and in our community”

“Roy is a role-model leader, one who has made a huge impact both at Avnet and in our community,” said Don Henninger, publisher for the Phoenix Business Journal. “Avnet is one of Arizona’s most important and successful companies. It’s helped make the technology sector in Phoenix better for all. And Roy’s leadership in the community has been just as strong.”

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 has grown from $6 billion to over $26 billion in sales this fiscal year. Vallee has cultivated a positive performance and values based culture and led the company’s global expansion with more than 70 acquisitions, so it now serves over 100,000 customers in more than 70 countries. Under Vallee’s leadership, Avnet was named No. 1 by Fortune on its "Most Admired Companies" list in the Wholesaler: Electronics category for the last three years in a row.

In his acceptance, Vallee credited Avnet employees for his recognition and spoke of the rewards of Avnet’s involvement in the community. “It’s an honor to receive this award and be included with the other distinguished award recipients. In many ways, I consider this to be an award recognizing the collective work of Avnet’s employees more so than my own. Our industry has experienced tremendous change, representing opportunities and challenges during my career. Through all the ups and downs, the employees of Avnet have demonstrated their adaptability and commitment to our vision and core values, and this has truly made the difference in our success over time. I have been privileged to be their leader. In addition, the opportunities to represent Avnet in the community have given me a deep appreciation of the power of collaboration with community leaders in making Arizona a place where talented people want to live and work. Arizona has been good for Avnet and we have been good for Arizona.”

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About Avnet

Avnet, Inc. , 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 customers around the world by providing cost-effective, value-added services and solutions. For the fiscal year ended July 3, 2010, Avnet generated revenue of $19.16 billion.