Martin Kent Named President, CEO at Nu Horizons

Martin Kent, Chief Executive Officer of Abacus Group until its acquisition by Avnet is crossing the Atalntic to become president and chief executive officer of Nu Horizons. The 35-year veteran of the component distribution industry, takes up his post on May 3, 2010. 

Arthur Nadata, a founder of the company and currently the company’s executive chairman and interim chief executive officer, will serve as the company’s non-executive chairman. Richard Schuster, also a founder of the company, will remain as executive vice president and chief operating officer of the company and president of Nu Horizons’ passive components segment, NIC Components. 

 

 

“I am excited to have the opportunity to take on the position of CEO of Nu Horizons,” stated Kent (pictured left).  “Arthur has, in conjunction with his management team, taken Nu Horizons to a strong position in the electronics distribution market. I believe we can continue to build on these strong foundations and carry on developing a business that offers an excellent service to its customers, strong support for its suppliers and a level of profitability that allows investment for the future and generates a positive return on investment for its shareholders."

Arthur Nadata stated, “We are delighted to bring someone of Martin’s experience and ability on as CEO to lead Nu Horizons. We believe that his prior industry experience as CEO of Abacus Group, Plc, will be invaluable in running Nu Horizons.  We were impressed with Martin’s success in growing Abacus Group, Plc until its acquisition in January 2009, both organically and through acquisitions in Europe, to a company with approximately $500 million in sales for their fiscal year ended September 30, 2008. His familiarity with our products and geographic markets should result in a smooth transition for our customers, suppliers and employees.”

“Since founding the Company in 1982, it has truly been an honour and pleasure serving Nu Horizons these past 28 years and helping to build Nu Horizons into a global distribution leader with approximately $670 million in sales for fiscal 2010,” said Nadata.  “With great people, a strong balance sheet, and a strong platform in place, combined with Martin’s wealth of experience to draw on in leading the Company, Nu Horizons has a bright future and I am looking forward to helping ensure a smooth seamless transition.”