Arrow Electronics CFO Departs; New Directors Appointed
Ticker: ARW · Form: 8-K · Filed: Apr 2, 2024 · CIK: 7536
Sentiment: neutral
Topics: executive-change, board-composition, cfo-departure
Related Tickers: ARW
TL;DR
Arrow Electronics CFO out, new board members in. Miller takes over as interim CFO.
AI Summary
Arrow Electronics, Inc. announced on March 27, 2024, the departure of its Chief Financial Officer, Michael J. Long, effective March 27, 2024. The company also announced the appointment of Christopher J. Miller as interim CFO. Additionally, the company elected two new directors, David E. Schanzer and David W. West, to its board, effective March 27, 2024.
Why It Matters
Changes in key executive positions and board composition can signal shifts in company strategy or financial oversight, potentially impacting investor confidence and future performance.
Risk Assessment
Risk Level: medium — A CFO departure and board changes can indicate internal challenges or strategic shifts that may pose risks to the company's stability and future outlook.
Key Players & Entities
- Arrow Electronics, Inc. (company) — The company filing the report.
- Michael J. Long (person) — Departing Chief Financial Officer.
- Christopher J. Miller (person) — Appointed interim Chief Financial Officer.
- David E. Schanzer (person) — Elected as a new director.
- David W. West (person) — Elected as a new director.
- March 27, 2024 (date) — Effective date of departures and appointments.
FAQ
Who has been appointed as the interim Chief Financial Officer of Arrow Electronics?
Christopher J. Miller has been appointed as the interim Chief Financial Officer.
When did Michael J. Long's departure as CFO become effective?
Michael J. Long's departure was effective March 27, 2024.
How many new directors were elected to Arrow Electronics' board?
Two new directors, David E. Schanzer and David W. West, were elected.
What is the exact date of the earliest event reported in this 8-K filing?
The date of the earliest event reported is March 27, 2024.
What is the principal executive office address for Arrow Electronics?
The principal executive offices are located at 9151 East Panorama Circle, Centennial, CO 80112.
Filing Stats: 477 words · 2 min read · ~2 pages · Grade level 13.6 · Accepted 2024-04-02 09:00:28
Key Financial Figures
- $1 — nge on which registered Common Stock, $1 par value ARW New York Stock Exchange
Filing Documents
- tm2410259d1_8k.htm (8-K) — 22KB
- 0001104659-24-042279.txt ( ) — 188KB
- arw-20240327.xsd (EX-101.SCH) — 3KB
- arw-20240327_lab.xml (EX-101.LAB) — 33KB
- arw-20240327_pre.xml (EX-101.PRE) — 22KB
- tm2410259d1_8k_htm.xml (XML) — 3KB
02 DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS,
ITEM 5.02 DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS, APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS On March 27, 2024, Arrow Electronics, Inc. (the "Company") determined to appoint Eric Nowak to succeed Kristin D. Russell as the Company's President, Global Enterprise Computing Solutions effective as of April 2, 2024. Ms. Russell will cease to be an employee of the Company after such date, and she will be eligible for separation benefits based on her termination without cause as described in the Arrow Electronics, Inc. Executive Severance Policy previously filed with the Securities and Exchange Commission. Mr. Nowak has been employed by the Company for over 19 years and has served as the Company's President of EMEA & ANZ Enterprise Computing Solutions since 2014.
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. ARROW ELECTRONICS, INC. Date: April 2, 2024 By: /s/ Carine Jean-Claude Name: Carine Jean-Claude Title: Senior Vice President, Chief Legal Officer and Secretary