Arrow Electronics names William Austen as interim CEO

CENTENNIAL, Colo. - Arrow Electronics, Inc. (NYSE:ARW), a $6.54 billion market cap electronic components distributor, announced Tuesday that board member William "Bill" Austen has been appointed Interim President and CEO, effective immediately. Austen replaces Sean Kerins, who has separated from his roles as Director, President and CEO. According to InvestingPro data, the company maintains a GOOD financial health score, suggesting stable operational performance despite the leadership transition.

The company stated that Kerins’ departure is unrelated to Arrow’s financial statements. Kerins has agreed to provide continued assistance to support transition efforts. The company currently trades at a P/E ratio of 14.38, with InvestingPro analysis indicating the stock is slightly undervalued relative to its Fair Value.

Austen, who has served as a director at Arrow since May 2020, will maintain his position on the board but has stepped down as Chair of the corporate governance committee and as a member of the compensation committee.

"We have full confidence in the ability of the current leadership team, with Bill Austen’s support, to lead Arrow during this period of transition," said Steven Gunby, Independent Board Chair.

Prior to this appointment, Austen served as president, chief executive officer, and director of Bemis Company, Inc., a manufacturer of flexible packaging products and pressure-sensitive materials, for six years until June 2019. His previous experience includes executive and operational leadership roles at Bemis from 2000 to 2014, as well as board positions at Tenant Company and Arconic Corporation.

Arrow Electronics, which reported global sales of $28.5 billion in the last twelve months with an 11.48% gross profit margin, has launched a search for a permanent President and CEO, according to the company’s press release statement. For deeper insights into Arrow Electronics’ financial performance and future prospects, investors can access comprehensive analysis through InvestingPro’s detailed research reports, available for over 1,400 US stocks.

In other recent news, Arrow Electronics Inc. reported strong financial results for the second quarter of 2025. The company exceeded analyst expectations with an earnings per share (EPS) of $2.43, surpassing the forecasted $2.06. This represents a 17.96% earnings surprise. Revenue also increased to $7.58 billion, beating the anticipated $7.15 billion. These results highlight Arrow Electronics’ strong performance in the latest quarter. Despite these positive earnings and revenue figures, the stock experienced a decline in aftermarket trading. The decline reflects investor concerns over future market conditions and other underlying factors. This development comes amidst a complex market environment.

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