The chief operating officer of global IT distribution firm, Avnet, will take the reins as chief executive officer.
Rick Hamada will take over from Roy Vallee, following a transition period that began in February. The appointment aligns with the company’s fiscal year 2012. The move is the culmination of a multi-year CEO succession planning process, according to the company.
“Rick is more than ready to become CEO with the skills, experience, passion and values needed to lead Avnet to the next level of performance,” said Vallee, who will move into a new role as executive chairman.
Hamada joined Avnet in 1983 as a technical support specialist. In July 2006, Hamada took on the COO role, responsible for electronics marketing and technology solutions, as well as global logistics operations, information technology, operational excellence and business innovation.
“I consider it a privilege to lead this great team, and I look forward to working closely with Roy and the Avnet board of directors to deliver on Avnet's key business objectives and commitments for fiscal year 2012 and beyond,” Hamada said in a statement.