- Push-out Score determined
- After about 13 years in the position
- Praise for Long
- Sean Kerins taking over
- Long will remain as executive chairman at Arrow Electronics
- Long said 71 words
(exechange) — Centennial, Colorado, May 2, 2022 — Mike Long, chief executive of Arrow Electronics, leaves his position. As announced by Arrow Electronics Inc. in a news release and in a regulatory filing published on Monday, May 2, 2022, Michael J. (Mike) Long leaves his post as chief executive officer at the specialist in electronic components and computer products, after about 13 years in the role, effective June 1, 2022.
Mike Long’s duties as CEO will be taken over by Sean J. Kerins, currently chief operating officer at Arrow Electronics Inc.
“Continuity”
Mike Long’s departure from the CEO post is explained as follows. Barry W. Perry, lead independent director of the Arrow board of directors, said: “Our commitment to multi-year succession planning provides continuity for our shareholders, customers, suppliers, and employees.”
Long will remain as executive chairman at Arrow Electronics
“Arrow Electronics, Inc. (NYSE:ARW) today announced Sean J. Kerins as president and chief executive officer (CEO), effective 06/01/22, succeeding Michael J. Long who, effective 06/01/22, will become executive chairman of the Arrow board of directors. Additionally, Arrow Electronics, Inc. today announced Kerins will join the Arrow board of directors effective following the Annual Meeting of Shareholders on 05/11/22,” Arrow Electronics said.
“Resignation/transition”
Arrow Electronics said: “On April 29, 2022, the Board of Directors (the “Board”) of Arrow Electronics, Inc. (the “Company”) accepted Michael J. Long’s resignation from his position as Chairman, President, and Chief Executive Officer of the Company, effective June 1, 2022.”
Arrow Electronics further said: “Mr. Long will transition into the new position of Executive Chairman of the Board effective June 1, 2022.”
Share price increase since May 2019
The announcement follows an increase in Arrow Electronics Inc.’s share price of 41% since May 2019.
In the position of CEO since 2009
Mike Long became CEO of the Company in 2009.
Michael J. Long is chairman, president and chief executive officer (CEO) of Arrow Electronics, Inc.
Prior to being named CEO in May 2009, Long served as president and chief operating officer (COO) of Arrow, with responsibility for all of the company’s operations and business units.
Before that, Long served as senior vice president of Arrow and president of the company’s Global Components business with responsibility for overseeing Arrow’s semiconductor, passive, electromechanical and connector products and services businesses worldwide.
Long has been with Arrow since 1991 when Arrow merged with Schweber Electronics, a company where he held various leadership roles from 1983 to 1990.
In 1994, Long was president, Capstone Electronics, an Arrow company, and from 1995 to 1999, he was president, Gates/Arrow Distributing.
From 1998 to 2005, Long was president and COO, Arrow North American Computer Products (now Arrow Enterprise Computing Solutions).
As a result of his success in running and growing this business, Long was named one of Computer Reseller News’ “Top 25 Executives” in 2002 and 2004. Long also served as president, North America and Asia/Pacific components.
Long holds a bachelor’s degree in business administration from the University of Wisconsin and attended the Milwaukee School of Engineering.
He is active in the Young Presidents’ Organization, a global peer networking group.
He serves on the boards of AmerisourceBergen, UCHealth and The National Western Stock Show.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Mike Long’s move on a scale of 0 to 10.
exechange reached out to Arrow Electronics and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 19.2022 ($).