Avnet CFO Steps Down

Phoenix-based Avnet said on Wednesday that the company's Chief Financial Officer, Kevin Moriarty, is stepping down due to "personal reasons". According to Avnet, it has named Ken Jacobson, the company's Controller, as interim CFO while it runs a search for a permanent CFO. Moriarty has been Avnet's CFO for the past 4.5 years. Avnet is major electronic distributor and provider of design and supply chain services to the electronics industry.