Philip R. Gallagher has been the Chief Executive Officer of Avnet, Inc. since November 2020, after serving as interim CEO starting in August 2020. Before becoming CEO, he held various leadership positions within the company, accumulating over a decade of...

Philip R. Gallagher has been the Chief Executive Officer of Avnet, Inc. since November 2020, after serving as interim CEO starting in August 2020. Before becoming CEO, he held various leadership positions within the company, accumulating over a decade of experience at Avnet. His career highlights include roles such as President of Electronic Components and Global President of Technology Solutions. Gallagher rejoined Avnet in 2017 after a brief stint at TTI, where he was President of Americas Sales and Marketing. Under his leadership, Avnet focuses heavily on aligning executive compensation with company performance, rewarding growth through strong metrics. His total compensation in 2022 was an impressive $9.7 million, which reflects a significant cash bonus tied to company performance goals. Notably, Gallagher has actively managed Avnet’s performance-based incentives, shaping a strategy that emphasizes long-term shareholder value. His journey shows resilience and adaptability as he continues to drive Avnet’s growth in the tech distribution industry.

Quick Links

1. Rivals

2. Holdings

3. Insider Trading

4. Compensation History

5. Other Avnet CEOs

A

Philip R. Gallagher

CEO of Avnet

Sector of Economy

Technology

CEO of Avnet for

4 years 4 months (Nov 2020 - Present)

Previous Experience

Interim Chief Executive Officer of Avnet since August 2020

Rivals

Competitors/colleagues of Philip R. Gallagher

P

Christopher G. Thomas

CEO of Paycom Software

2023 Compensation

Stock

$4.97M

Salary

$401.73K

Bonus

$0.00

Other

$4.03K

Total Holdings

$11.10M

M

Michael Hsing

CEO of Monolithic Power Systems

2023 Compensation

Stock

$0.00

Salary

$831.60K

Bonus

$1.51M

Other

$0.00

Total Holdings

$631.63M

A

Michael R. McMullen

CEO of Agilent Technologies

2023 Compensation

Stock

$0.00

Salary

$1.32M

Bonus

$0.00

Other

$84.04K

Total Holdings

$31.10M

A

Sean J. Kerins

CEO of Arrow Electronics

2023 Compensation

Stock

$4.00M

Salary

$1.00M

Bonus

$0.00

Other

$14.07K

Total Holdings

$12.28M

A

Russell J. Low

CEO of Axcelis Technologies

2023 Compensation

Stock

$0.00

Salary

$530.10K

Bonus

$519.07K

Other

$9.90K

Total Holdings

$4.66M

Holdings

See how much did Philip R. Gallagher make over time.

Gallagher’s wealth is largely tied to his position at Avnet. In 2022, he received a sizable cash bonus, highlighting the company's successful performance. His wealth has shifted over time, with significant cash bonuses during his tenure reflecting the company’s focus...

Gallagher’s wealth is largely tied to his position at Avnet. In 2022, he received a sizable cash bonus, highlighting the company's successful performance. His wealth has shifted over time, with significant cash bonuses during his tenure reflecting the company’s focus on performance-driven incentives. At one point, Gallagher's holdings included stock options worth well over a million dollars. In 2021, he exercised shares, realizing substantial gains, and he still holds a significant number of unexercised options that can significantly impact his overall wealth, especially amidst the stock market's fluctuations. As his responsibilities grow at Avnet, his holdings reflect both his personal investment in the company's success and the strategic incentive alignment with shareholders' interests.

Mar 11, 2025

A

shares

AVT @ $48.30

Total Stock Sold

$10.62M

AVT

$10.62M

242,917 AVT shares

What if they kept their stock?

If Philip R. Gallagher didn't sell their stock, today they would have:
Extra AVT242,917 shares worth $6.86M.
This is -35.45% and $3.76M less than what they got when they sold the stock.

Charitable Transactions

AVT

56,154 shares

AVT

Recent Charitable Transactions

AVT

14,488 shares

AVT

Jan 2, 2015

Charity

AVT

10,512 shares

AVT

Nov 15, 2013

Charity

AVT

3,200 shares

AVT

Aug 15, 2013

Charity

AVT

5,066 shares

AVT

Jan 29, 2013

Charity

AVT

9,921 shares

AVT

Jan 2, 2013

Charity

AVT

4,874 shares

AVT

Jan 31, 2012

Charity

Insider Trading

See recent insider trades of Philip R. Gallagher.

AVT

91,020 shares

AVT

Aug 15, 2024

Received

AVT

$1.61M

AVT at $53.74/share

May 29, 2024

Sale

AVT

$1.01M

AVT at $51.63/share

May 10, 2024

Sale

AVT

105,582 shares

AVT

Aug 29, 2023

Received

AVT

$1.35M

AVT at $41.35/share

May 15, 2023

Sale

AVT

84,374 shares

AVT

Aug 30, 2022

Received

AVT

63,100 shares

AVT

Aug 23, 2021

Received

AVT

$1.01M

AVT at $43.57/share

May 6, 2021

Sale

AVT

$901.50K

AVT at $42.62/share

May 4, 2021

Sale

AVT

59,564 shares

AVT

Nov 17, 2020

Received

Compensation History

See how much did Philip R. Gallagher make over time.

In 2022, Philip R. Gallagher earned a total compensation of nearly $9.7 million from Avnet, marking a significant increase from previous years. His salary was approximately $1.15 million, and he earned a notable cash bonus of $6.08 million based on exceeding pre-established performance goals. The annual cash incentive plan targets were set at $1.725 million, with Gallagher achieving an impressive 141% of his target metrics. Interestingly, in contrast to previous years, he did not vest any stock awards in 2022, as his compensation structure shifted focus more towards performance-based cash rather than equity. His arrangements include restricted stock units for future vesting, ensuring that his future earnings will also align with the company’s long-term performance. This structured approach reflects Avnet's overall compensation philosophy, which aims to attract and retain top executive talent while driving the company's growth forward.

Year

2022

Total Compensation

$7.26M

Salary

$1.15M

Board Justification

The compensation philosophy aligns with company performance, peer benchmarking, and retention strategies, focusing on long-term shareholder value.

Bonus

$6.08M

Board Justification

Annual cash incentive based on pre-established performance goals, with a target of $1,725,000 and a maximum payout of $3,450,000, achieved at 141.02% of target.

Other

$28.78K

Board Justification

Includes expenses associated with the Company’s automobile program and the cost of annual physical exams.

Restricted Stock

$0.00(0 N/A)

Board Justification

No stock awards vested in 2022 as the focus is on cash compensation and performance-based incentives.

Performance Metrics

Performance metrics include financial performance goals such as Adjusted Operating Income, Return on Working Capital, and Relative Market Share.

Other Avnet CEOs

Here are other CEOs of Avnet

Rick Hamada

Ex-CEO of Avnet

May 2016 - October 2019