Newark element14: A Decade of Change
Tom Hudak’s resignation as president of Chicago-based Newark element14 this week underscores several major management and branding changes at the distributor over the past decade. Since 2003, the North American distribution business of UK-based Premier Farnell plc has had five presidents and two brands, changing from Newark Electronics to NewarkInOne and now Newark element14.
While management turnover is a fact of business, many leading electronic component distributors have historically been led by long-time executives. In the catalog (or low volume/high mix) business, Newark element14 competitor Digi-Key Corp. was lead by president Mark Larson for nearly 40 years until his recent retirement; Glenn Smith, president and CEO of Mouser, has held that position since 1988. Until very recently, Lee Davidson headed the executive team at Allied Electronics for a decade.
It is unclear how closely Newark element14’s turnover has been tied to financial performance. Over the past 10 years the distributors performance has been on a roller-coaster ride.