Who Were The 101 Highest-Paid Channel Execs In 2016?
Submitted by Michael Novinson on
65. Patrick Zammit, Avnet: $2.49M
Position: SVP and President, Technology Solutions
Stock Award: $860,000
Salary: $488,000
Bonus: $385,000
Other Compensation: $379,000
Option Award: $269,000
Deferred Compensation: $105,000
Zammit joined Avnet in October 2014 and ascended to the Technology Solutions presidency in January 2015. He joined Tech Data in February 2017 as part of its $2.6 billion Technology Solutions acquisition, is now president of the Clearwater, Fla.-based distributor's European operations.
The fiscal year for Avnet ended July 2, with sales for the Phoenix-based distributor slumping 6.1 percent to $26.22 billion and net income tumbling 11.4 percent to $506.5 million. Avnet's stock dropped by 3.4 percent over the company's 2016 fiscal year to $40.27 per share.
Other compensation for Zammit included $302,000 of tax equalization payments, a $42,000 contribution to a French retirement program, $26,000 for his automobile lease and insurance costs, as well as the cost of an annual physical exam.