Compensation Trends at Avnet, Inc.: A Closer Look.

Avnet, Inc. (NASDAQ: AVT), a major player in the wholesale electronic parts and equipment industry, has seen notable variations in executive compensations over recent years. The company, established for fostering effective electronic distribution and support, also exhibits interesting trends when compensation data is juxtaposed with its market performance.


In 2024, Max Chan, the Chief Information Officer, received a total compensation package of approximately $1.55 million. Despite the absence of a bonus, this figure was supported by a substantial stock award valued at $704,316 and $228,800 in incentive plan compensation1. Such allocations emphasize Avnet’s strategy for compensating executives with equity-based incentives, aligning their interests with long-term corporate growth and shareholder value.

Contrast that with Thomas Liguori, the Former Chief Financial Officer in 2021, who received a significantly higher compensation package totaling nearly $2.71 million. Liguori's package not only included stock awards like Chan’s but also option awards amounting to $519,347, indicating Avnet's emphasis on stock and options for retention during his tenure2. This varied approach also reflects the company’s shifting compensation strategy over different fiscal periods, potentially influenced by broader financial goals or market conditions.

In 2020, Philip R. Gallagher, serving as Interim CEO and President of Electronic Components, had a total compensation of approximately $2.22 million. His salary was slightly higher at $565,000, with significant stock awards constituting $953,719 of his compensation. This period marked Avnet's focus on stabilizing leadership amidst global economic challenges3.

Looking back further, in 2019, MaryAnn G. Miller, the Former SVP and Chief Administrative Officer, took home $2.32 million, predominantly through stock awards and options. This reflects Avnet's practice of leveraging stock options as a crucial part of executive compensation to maintain a competitive edge in talent acquisition and retention4. Michael R. McCoy, General Counsel, in 2022, received over $2 million, primarily governed by stock awards and a substantial increase in "all other compensation," which highlights the company’s nuanced approach towards legal and strategic governance away from traditional roles5.

While Avnet’s compensation structures for its top executives have varied significantly, they appear to consistently align with market standards while accounting for internal strategic needs. Over time, Avnet's stock price has seen its own ebbs and flows, with a recent drop to $53.10 per share, a 1.94% decline that could partly reflect broader market dynamics6.

Interestingly, Avnet’s current market capitalization stands at approximately $4.62 billion, with an average 50-day stock price of about $54.56, suggesting fluctuations that align closely with recent financial performance metrics7. As Avnet approaches its next earnings announcement in January 2025, stakeholders will likely anticipate how past and current compensation strategies impact its financial health and shareholder returns. Ultimately, Avnet's compensation plans have demonstrated adaptability, reflecting both external market conditions and internal leadership dynamics over recent years.

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1. U.S. Securities and Exchange Commission, [Max Chan – 2024 Compensation](https://www.sec.gov/Archives/edgar/data/8858/000110465924107028/0001104659-24-107028-index.htm).

2. U.S. Securities and Exchange Commission, [Thomas Liguori – 2021 Compensation](https://www.sec.gov/Archives/edgar/data/8858/000110465923105871/0001104659-23-105871-index.htm).

3. U.S. Securities and Exchange Commission, [Philip R. Gallagher – 2020 Compensation](https://www.sec.gov/Archives/edgar/data/8858/000104746920005067/0001047469-20-005067-index.htm).

4. U.S. Securities and Exchange Commission, [MaryAnn G. Miller – 2019 Compensation](https://www.sec.gov/Archives/edgar/data/8858/000110465921123864/0001104659-21-123864-index.htm).

5. U.S. Securities and Exchange Commission, [Michael R. McCoy – 2022 Compensation](https://www.sec.gov/Archives/edgar/data/8858/000110465922104692/0001104659-22-104692-index.htm).

6. NASDAQ, [Avnet, Inc. Current Market Data](https://www.nasdaq.com/market-activity/stocks/avt).