Arrow Electronics, Inc. (NYSE:ARW) (Arrow) today announced that William ("Bill") F. Austen, member of Arrow's Board of Directors, has been named Interim President and CEO, effective today. Mr. Austen will succeed Sean Kerins, who separated from his roles as Director, President and CEO of the Company effective today. Mr. Austen will continue to serve as a Director on Arrow's Board of Directors, though he has stepped down as Chair of the Board's corporate governance committee and as a member of the compensation committee. The Board is launching a search for a permanent President and CEO.
Independent Board Chair Steven Gunby said, "We have full confidence in the ability of the current leadership team, with Bill Austen's support, to lead Arrow during this period of transition, and appreciate Bill's willingness to step into this role."
Mr. Austen has served as a Director since May 15, 2020. Mr. Austen served as president, chief executive officer, and director of Bemis Company, Inc., a leading global manufacturer of flexible packaging products and pressure-sensitive materials, for six years prior to June 2019. From 2013 to 2014, he served as Bemis' executive vice president of operations and chief operating officer. From 2000 to 2013, Mr. Austen held roles of increasing executive and operational leadership responsibilities with Bemis and Bemis' divisions. Mr. Austen also served on the Board of Directors of Tenant Company and Arconic Corporation from 2007 through 2022 and 2020 through 2023 respectively.
Mr. Kerins has agreed to provide continued assistance to the Company to support transition efforts. His separation is unrelated to Arrow's financial statements.
About Arrow Electronics
Arrow Electronics sources and engineers technology solutions for thousands of leading manufacturers and service providers. With global 2024 sales of $28 billion, Arrow's portfolio enables technology across major industries and markets. Learn more at arrow.com.
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