However, Arrow's emergence as a major distributor of electronic components dates fromwhen the company was purchased by three recent graduates of the Harvard School of Business. By the mids, Arrow was selling a variety of home entertainment products and also had moved into electronic parts distribution. InB.
Duke Glenn, Jr. Green, and John C. They also purchased a company that reclaimed lead from old car batteries. Using cash from the profitable lead reclamation business, the new owners began expanding Arrow's inventory of electronic parts, which allowed them to service their customers better. They also sacrificed profits, through aggressive pricing, in order to build volume. ByGeniecompany Com had become the tenth largest electronic parts Elite Company in the United States, although still far behind Avnet, Inc.
InArrow also became the first distributor of electronic parts to introduce an on-line computerized inventory system to speed up delivery. Its chief rival, Avnet, was still three times as big, but for the first time, Arrow could claim a national presence. Arrow was listed on the New York Stock Exchange in With the takeover of Cramer Electronics, Arrow appeared to have fulfilled the vision of its annual report, which had predicted: 'Significant opportunities exist for us in the electronics distribution business owing mainly to the fragmented competitive environment It appears likely that the future will belong increasingly to those few substantial distribution companies with the financial resources, the professional managements, and the modern control systems necessary to participate fully in the industry's current consolidation phase.
But in December ofa blistering fire raced through the conference center of a hotel in Harrison, New York, killing 13 senior executives from Arrow, who had gathered for the company's annual budget meetings.
Among the dead were Glenn, then chairman of the company; Green, then an executive vice-president, and all the department heads from the electronics distribution division. Only Waddell, then an executive vice-president, who had stayed behind at company headquarters to answer questions about a two-for-one stock split announced earlier that day, survived from the senior management team.
In a remarkable display of courage, Lynn Glenn, the widow of the company's chief executive, addressed employees at company headquarters the day after the fire.
The company will go on. It won't be sold. You'll be getting calls from competitors, but don't be spooked. Keep the Arrow Electronics Company Profile. Waddell, who was named acting chief executive officer, embarked on what Fortune described as 'a one-man campaign to assure security analysts, money managers, and journalists that the company was stable and recovery was underway.
That spring, the electronics industry was plunged into a recession, further crippling Arrow's recovery. By the time Arrow's stock bottomed out early init had lost 60 percent of its value. Meanwhile, Waddell also was trying to rebuild Arrow's senior management team.
One of his first decisions was to go outside the company to recruit senior executives, rather than promote from within. That included finding someone to become chief executive officer. However, the board did not the same opinion of Waddell, whom Fortune described as 'slender and elegant Stein away from Motorola to be president Jeannette Glass Company Marks chief executive officer.
Waddell remained as chairman. Unfortunately, Stein, who also had worked at Texas Instruments, did not mesh well at Arrow.
Rob Klatell, then company attorney, later told Fortune that with Stein's background in manufacturing, he 'kept looking for a facility to manage, and all he had were these crazy salesmen running around.
InFortune declared that 'Kaufman's arrival marks the moment at which Arrow's cruelly unconventional problem came to an end. Inwith Arrow celebrating its financial and emotional recovery, Waddell told Forbes: 'Our strategic exercise for a decade has been to get position. It cost us a lot of time, money and aggravation.
Now it's time to turn our attention to cashing in on a ten year investment. The company made a major move in when Arrow purchased a 40 percent interest in Spoerle Electronic, which was already the largest distributor of electronic components in Germany. At the time, no other American electronics distributor had invested consistently in the fragmented European market, but Kaufman was convinced that Europe's internal trade barriers would fall and that Arrow could score big.
However, Arrow first had to struggle through another Arrow Electronics Company Profile in the electronics industry, which struck about the same time the company unveiled the first fully automated robotic warehouse for electronics parts distribution in Brookhaven, New York.
Waddell relinquished the role of CEO to Kaufman inalthough he remained chairman. Financial World noted, 'Although economies of scale in electronics distribution are notoriously hard to come by, the The company also acquired a 50 percent interest in Silverstar Ltd.
Arrow affiliate Spoerle acquired Lex Electronics in Germany. InArrow became the first electronics distributor to claim a global reach when it acquired Components Agents Ltd. The same year, Arrow purchased the distribution division of Zeus Components, Inc. Kaufman also became chairman of the company inwith Waddell retaining the title of vice-chairman. Although Avnet remained the largest electronics distributor in the United States, it was late entering the European market and Arrow was easily the global leader withoriginal equipment manufacturers and commercial customers around the world.
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Company profile page for Arrow Electronics Inc including stock price, company news, press releases, executives, board members, and contact information.Employees: 19K…
A global provider of products, services, and solutions, Arrow aggregates electronic components and enterprise computing solutions for customers and suppliers in industrial and commercial markets. The company maintains a network of more than 349 locations serving over 80 countries.…
See the company profile for Arrow Electronics, Inc. (ARW) including business summary, industry/sector information, number of employees, business summary, corporate governance, key executives and ...…
The company also provides value-added services, such as data-center, cloud, security, and analytics solutions. Arrow Electronics, which generates about 60% of revenue outside the US, operates from 600-plus locations across the globe. Try D&B Hoovers Free…
Company profile for Arrow Electronics Inc. including key executives, insider trading, ownership, revenue and average growth rates. View detailed ARW description & address.Employees: 19K…
Arrow Electronics GmbH & Co. KG is located in Neu-Isenburg, Hessen, Germany and is part of the Management of Companies & Enterprises Industry. Arrow Electronics GmbH & Co. KG has 26 employees at this location. There are 631 companies in the Arrow Electronics GmbH & Co. KG corporate family.…