Arrow Electronics is a global technology solutions provider that has been operating for over eight decades. The company's success can be attributed to its strong leadership, and its board of directors plays an integral role in shaping its strategy and guiding its growth. In this article, we will explore the composition, role, and responsibilities of Arrow Electronics' board of directors, as well as how it manages risk and compliance and impacts the company's financial performance.
The board of directors at Arrow Electronics is comprised of eleven individuals, all of whom bring unique skills and experiences to the table. The current chairman of the board is Michael J. Long, who has been with the company for over three decades. Other members of the board include Mary C. Farrell, Gail E. Hamilton, Steven H. Gunby, and Gregory T. Frauenhoff, among others.
Michael J. Long has been the CEO of Arrow Electronics since 2009, and has led the company through significant growth and expansion. Mary C. Farrell is a financial expert, having previously served as the Chief Investment Officer of a major investment firm. Gail E. Hamilton brings extensive experience in technology and innovation, having held leadership positions at several major tech companies.
Steven H. Gunby is a seasoned executive with experience in both the private and public sectors, and has served on several other corporate boards. Gregory T. Frauenhoff is an expert in cybersecurity and technology, having previously served as the Chief Security Officer of a major tech company. Together, these individuals form a diverse and experienced board of directors that is well-equipped to guide Arrow Electronics into the future.
Arrow Electronics' board of directors is structured to ensure diversity in its composition. The board includes individuals with diverse backgrounds, experiences, and skill sets, as well as a mix of gender and race. This diversity allows the board to have a broad and inclusive view of the challenges and opportunities facing the company in today's complex and fast-changing business environment.
In addition to diversity, Arrow Electronics' board of directors also prioritizes expertise in key areas such as technology, finance, and governance. This ensures that the board is well-equipped to make informed decisions that benefit the company and its stakeholders.
Furthermore, the board of directors at Arrow Electronics is committed to upholding the highest standards of corporate responsibility and ethical behavior. This includes a focus on sustainability, social responsibility, and transparency in all business operations. By prioritizing these values, the board ensures that Arrow Electronics remains a responsible and trustworthy member of the global business community.
The board of directors at Arrow Electronics provides oversight and guidance to the company's management team, ensuring that the company is operating in the best interests of its stakeholders, including its shareholders, customers, and employees. The board is responsible for setting the company's strategic direction, overseeing risk management and compliance, and ensuring that the company has the resources and capabilities necessary to support its growth and success.
In addition to these responsibilities, the board of directors also plays a crucial role in promoting ethical behavior and corporate social responsibility within the company. This includes ensuring that the company operates in an environmentally sustainable manner, promotes diversity and inclusion, and upholds high standards of business ethics and integrity. The board also has a responsibility to engage with stakeholders and listen to their concerns, in order to ensure that the company is meeting their needs and expectations.
Arrow Electronics' board of directors plays a crucial role in shaping the company's strategy. The board regularly reviews and approves the company's strategic plans, ensuring that they are consistent with the company's vision, mission, and values. The board also assesses the company's competitive position and identifies opportunities for growth and expansion, as well as risks and challenges that must be addressed.
Furthermore, the board of directors at Arrow Electronics is responsible for overseeing the company's financial performance and ensuring that it is in line with the company's goals and objectives. They review financial reports and statements, monitor cash flow, and make decisions regarding investments and capital expenditures. The board also sets executive compensation and evaluates the performance of top-level management.
Arrow Electronics' board of directors has a rich history dating back to the company's founding in 1935. Over the years, the board has undergone changes in composition and leadership as the company has grown and evolved. In recent years, the board has focused on ensuring that it has the right mix of skill sets and experiences to guide the company in today's dynamic marketplace.
One of the most significant changes to the board of directors occurred in 2010 when Michael Long was appointed as the company's CEO and chairman. Long brought a new vision and strategy to the company, which led to a shift in the board's focus towards innovation and growth. Under Long's leadership, the board has made several strategic acquisitions and investments to expand Arrow Electronics' global reach and capabilities.
Another notable development in the board's history was the appointment of Mary C. Beckerle as a director in 2019. Beckerle is a renowned cancer researcher and brings a wealth of scientific expertise to the board. Her appointment reflects Arrow Electronics' commitment to advancing technology and innovation in the healthcare industry. With Beckerle's guidance, the board is exploring new opportunities to leverage Arrow Electronics' expertise in electronics and computing to improve patient outcomes and advance medical research.
Arrow Electronics' board members bring a range of leadership styles and philosophies to the table. Some members are more hands-on in their approach, while others prefer to lead from a more strategic and visionary perspective. However, all board members share a commitment to working collaboratively with one another and with the company's management team to drive success and growth.
One board member, for example, believes in a servant leadership approach, where the leader's primary role is to serve the needs of their team and empower them to achieve their goals. Another board member emphasizes the importance of innovation and taking calculated risks to stay ahead of the competition. Despite these differences, all board members prioritize transparency and open communication with shareholders and stakeholders.
Furthermore, Arrow Electronics' board members are committed to promoting diversity and inclusion within the company and the industry as a whole. They recognize the value of diverse perspectives and experiences in driving innovation and growth. To this end, the board has implemented initiatives to increase diversity in hiring and promotion, as well as to provide training and support for underrepresented groups.
Arrow Electronics is committed to promoting diversity and inclusion throughout the company, including within its board of directors. The board's diversity of backgrounds, experiences, and perspectives allows it to make more informed decisions and better understand the needs and perspectives of the company's stakeholders. This commitment to diversity and inclusion also reflects Arrow Electronics' broader values as a socially responsible corporation.
Arrow Electronics' board of directors includes individuals from a variety of industries and sectors, including technology, finance, and healthcare. This diversity of expertise allows the board to bring a range of perspectives to the table when making important decisions for the company.
In addition to promoting diversity within its board of directors, Arrow Electronics also prioritizes inclusion in its hiring and promotion practices. The company has implemented unconscious bias training for all employees and has established employee resource groups to support underrepresented groups within the company. These efforts have helped to create a more inclusive workplace culture and ensure that all employees feel valued and supported.
The selection process for Arrow Electronics' board members is rigorous and designed to ensure that the board has the right mix of skills, experience, and diversity. The board's nominating and governance committee is responsible for identifying and evaluating potential candidates and making recommendations to the full board. The committee considers factors such as an individual's skills and experience, relevant industry knowledge, and diversity of background and perspective, among others.
Once the committee has identified potential candidates, they conduct thorough background checks and interviews to assess their qualifications and suitability for the role. The committee also seeks input from current board members and senior executives within the company. The final decision on board member appointments is made by a vote of the full board, with a focus on ensuring that the board has the necessary skills and expertise to guide the company's strategic direction and oversee its operations.
Arrow Electronics' board members are compensated for their service with the company. The compensation package includes a mix of cash and equity-based awards, designed to align the interests of the board with those of the company's shareholders. The compensation package is reviewed and approved by the company's compensation committee, which takes into account current market trends and industry best practices.
In addition to the cash and equity-based awards, Arrow Electronics' board members also receive various benefits and perks. These may include health insurance, retirement plans, and travel allowances. The company believes that providing these benefits helps to attract and retain highly qualified individuals to serve on the board.
It is worth noting that the compensation structure for Arrow Electronics' board members is disclosed publicly in the company's annual proxy statement. This allows shareholders and other stakeholders to review and evaluate the compensation package and provide feedback to the company's compensation committee if necessary. Transparency in compensation is an important aspect of corporate governance and helps to ensure that board members are held accountable for their actions and decisions.
Arrow Electronics' board of directors plays a critical role in managing risk and ensuring compliance with applicable laws and regulations. The board's audit committee is responsible for overseeing the company's risk management and compliance programs, including internal controls, financial reporting, and ethical conduct. The committee works closely with the company's management team and external auditors to ensure that the company is adhering to best practices and meeting its obligations to stakeholders.
Arrow Electronics' board of directors has a direct impact on the company's financial performance. By setting the company's strategic direction and overseeing its risk management and compliance programs, the board helps ensure that the company is operating efficiently and effectively. The board's oversight of the company's financial reporting and controls also helps to safeguard the company's assets and protect shareholder value.
Corporate governance is a vital aspect of any publicly traded company, and Arrow Electronics is committed to ensuring that its governance practices are strong and effective. The company has implemented a number of policies and procedures designed to promote transparency, accountability, and ethical conduct, including a code of conduct for its employees and a comprehensive set of governance guidelines for its board of directors.
Getting appointed to the board of directors at Arrow Electronics is a highly selective process, but it is possible for individuals with the right experience and qualifications. Potential candidates should have a strong track record of leadership and success in their respective industries, as well as relevant skills and knowledge that align with the company's strategic direction. Individuals interested in serving on the board should also be committed to promoting diversity and inclusion and upholding ethical standards.
Investors in Arrow Electronics should be aware of the composition and functioning of the company's board of directors, as this has a direct impact on the company's strategy and performance. Investors should look for a board that is diverse in its composition and skilled in its leadership, with a strong commitment to transparency, accountability, and ethical conduct. Investors should also pay close attention to the board's oversight of risk management and compliance, as well as its role in setting the company's strategic direction and identifying growth opportunities.
In conclusion, Arrow Electronics' board of directors plays a pivotal role in shaping the company's strategy, managing risk and compliance, and driving growth and success. The board is committed to promoting diversity and inclusion, upholding ethical standards, and working collaboratively with the company's management team and stakeholders. Investors should be aware of the board's composition and functioning and its impact on the company's financial performance.
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