Nu Horizons Electronics Corp. Names New President of Distribution Division
MELVILLE, NY - February 16, 2010 - Nu Horizons Electronics Corp. (NASDAQ:NUHC), a leading global distributor of advanced technology semiconductor, display, illumination, power, system and telecommunication solutions, today announced that it has promoted Kent Smith to serve as president of the company's global distribution division. Smith's appointment is effective immediately, and he will report directly to Nu Horizons' executive chairman and interim chief executive officer, Arthur Nadata. Smith was recently appointed a corporate officer of Nu Horizons Electronics Corp. on January 5, 2010.
Smith joined Nu Horizons seven years ago and most recently served as executive vice president of worldwide sales and marketing, a position he assumed in 2008. Immediately prior, Smith served as senior vice president of sales, Americas, where he was responsible for business development and supplier relationships. He has held a number of sales roles within Nu Horizons, each with higher levels of responsibility.
"Kent has played a key role in driving our sales growth through the economic challenges of the previous year," said Arthur Nadata, executive chairman and interim chief executive officer for Nu Horizons. "His experience, coupled with his leadership skills and ability to both motivate and continually develop our sales and engineering teams provide him with a strong foundation to build upon the success of our company. In his new role, Kent will continue to focus on forging strong customer and supplier relationships and further strengthening our position around the world as a leading demand creation distributor."
"I am looking forward to serving Nu Horizons in this new capacity," added Smith. "There are opportunities to improve our competitive position in every marketplace, and I am eager to challenge our global team to target further growth, enhance profitability and provide our customers with the highest level of support."
About Nu Horizons Electronics Corp.
Nu Horizons Electronics Corp. is a leading global distributor of advanced technology semiconductor, display, illumination, power, system and telecommunication solutions to a wide variety of commercial original equipment manufacturers (OEMs) and Electronic Manufacturing Services providers (EMS). With sales facilities in 54 locations across North America, Europe and Asia and regional logistics centers throughout the globe, Nu Horizons partners with a limited number of best-in-class suppliers to provide in-depth product development, custom logistics and life-cycle support to its customers. Information on Nu Horizons and its services is available athttp://www.nuhorizons.com
Cautionary Statement Regarding Forward-Looking Statements
Except for historical information contained herein, the matters set forth in this news release are forward-looking statements. When used in this press release, words such as "anticipate," "believe," "estimate," "expect," "intend" and similar expressions, as they relate to Nu Horizons or its management, identify forward-looking statements. Such forward-looking statements are based on the current beliefs of Nu Horizons' management, as well as assumptions made by and information currently available to its management. Forward-looking statements involve certain risks and uncertainties that could cause actual results to differ from those in the forward looking-statements. Potential risks and uncertainties include such factors as the level of business and consumer spending for electronic products, the amount of sales of the Company's products, the competitive environment within the electronics industry, the ability of the Company to continue to expand its operations, the level of costs incurred in connection with the Company's expansion efforts, the financial strength of the Company's customers and suppliers and risks and costs related to the pending Vitesse-related SEC investigation. Investors are also directed to consider other risks and uncertainties discussed in documents filed by the Company with the Securities and Exchange Commission. Such statements reflect our current view with respect to the future and are subject to these and other risks, uncertainties and assumptions relating to Nu Horizons' financial condition, results of operations, growth strategy and liquidity. The Company does not undertake any obligation to update its forward-looking statements.
News Source : Nu Horizons Electronics Corp. Names New President of Distribution Division
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