No reasons were given for Kerins departure.
Sean Kerins on Tuesday stepped down as president and CEO of Arrow Electronics.
Taking over the roles on an interim basis is William “Bill” Austen, a member of the Centennial, Colo.-based distributor’s board of directors. Austen will remain a director on Arrow’s board of directors but has stepped down from his roles as chair of the board’s corporate governance committee and member of its compensation committee.
Arrow gave no reason for Kerins’ departure but did state that his departure was not related to the company’s financial statements.
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However, Arrow Electronics said in a press release that Kerins (pictured above) will provide the company assistance to support the transition to new leadership.
Arrow on July 31 reported revenue for its second fiscal quarter 2025, which ended June 28, of $7.58 billion, up about 10 percent year-over-year. That beat analyst expectations by $455.6 million, according to Seeking Alpha.
The company also reported GAAP net income of $188 million, up from last year’s $109 million, and income per share of $3.59, up from $2.01. On a non-GAAP basis, Arrow reported net income of $127 million, down from $150 million, and $2.43 per share, down from $2.78. That beat analyst expectations for non-GAAP earnings by 38 cents per share, according to Seeking Alpha.
This is not the first recent significant C-suite change for Arrow. The company on August 29 appointed Brandon Brewbaker as its new chief accounting officer and corporate financial planning and analysis, where he succeeds Yun Cho as its principal accounting officer.
An Arrow spokesperson, in an emailed response to a request for information from CRN, wrote, “The CEO change does not reflect a strategic shift at Arrow, as the company is committed to its corporate strategy and key business priorities. The Board has full confidence in the ability of the current leadership team to lead the company during this period of transition. … Sean’s separation is not connected to any other leadership or staffing changes, beyond the appointment of Bill Austen as interim president and CEO. Sean will remain available to the company in a consulting capacity for six months to help ensure a smooth and seamless transition without disruption to our customers and suppliers.”
Austen joined Arrow’s board of directors in mid-2020. Prior to that, he spent over 19 years at Bemis company, most recently as president and CEO after serving as chief operating officer.
Arrow has already launched a search for a permanent president and CEO.
