Arrow Electronics Names Michael Long President And COO - Update

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(RTTNews) - Monday morning, Arrow Electronics Inc. (ARW | news | PowerRating | PR Charts ), a distributor of electronic components and enterprise computing products, said that its board of directors has appointed Michael Long as president and chief operating officer of the company. Long has also been elected to the company's board of directors and nominated for re-election at the annual meeting of shareholders in May 2008.

Long, 49, who is a seventeen-year veteran of the company, previously served as senior vice president of Arrow and president of its global components business. The business accounted for $11.2 billion of the company's $16 billion total revenues in 2007.

Melville, New York-based Arrow noted that Long will continue to report to the company's chairman and chief executive officer, William Mitchell, and added that he would be responsible for all of the company's business operations, including Arrow's Global Components and Enterprise Computing Solutions groups.

Commenting on Long's appointment, Mitchell said, "Mike has proven his abilities and delivered on the strategic objectives of the company. He has an exceptional track record as an operating executive, has been a powerful contributor to Arrow's growth agenda and has demonstrated his ability to lead global management teams. As we continue to accelerate our strategic and operational performance, I am delighted that all of Arrow's businesses will now benefit from Mike's leadership, his focus on driving growth and his commitment to the development of the best team in the industry."

Long has served with Arrow since its acquisition of Scheweber Electronics in 1991, where he held several leadership roles. In 1994, he served as president of Capstone Electronics, an Arrow company, and was named president of Gates/Arrow Distributing in 1995. He then served as president and COO of Arrow North American Computer Products and next as president of the company's North America and Asia-Pacific components business.

Long holds a bachelor's degree in business administration from the university of Wisconsin. He serves on the board of Amerisource Bergen and is a member of the board of trustees of the Denver Zoo.

ARW closed Friday's regular trading session at $32.61, down $1.05 on a volume of 0.89 million shares.

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