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Aggregate sales hit $37.8 trillion last year—an increase of 19%, the highest annual growth rate in the list’s history.

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The 25th Fortune World’s Most Admired Companies list suggests that tech giants’ peers respect them as much as ever.

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LG Electronics

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Sean Kerins says his “foot is on the gas” when it comes to hiring tech talent.

Arrow Electronics' new CEO says supply chain is doing better, but still not back to normal

Leadership

Arrow Electronics' CEO: Supply chain better, but not normal

Sean thank you so much for joining us to talk about arrow electronics. You know, most people probably don't know about the critical role that your company plays if they're looking to buy a car, like an electric vehicle or a smartphone or some high tech home appliance? Tell our viewers exactly what does Well Susie, we're a global technology distributor and that means we help some of the biggest names in technology get their products to market. And that could be everything from semiconductors to data center computers, to cyber security appliances, to software and cloud solutions, You name it. And you know, we like to say an arrow that if a device takes an electronic charge, there's a good chance that we probably played a role in designing it, building it and certainly selling it well last year there was a big shortage of chips, semiconductor chips and we all know that there were long wait times if you were looking to buy any kind of electronic device. What about now is that chip supply crunch over? There's been progress for sure. Are all the issues fully resolved? No. And the way we know that is we see, you know, lead times for all the semiconductor technology that we helped sell are still twice their pre pandemic average. And that means that, you know, if you just bought a car a few weeks ago or if you're still waiting on something you ordered for home automation. I think we got a little ways to go before supply and demand fully normalizes and those lead times can become more predictable. What are you hearing from your other customers? Besides the consumers, you sell components to big companies like Microsoft or IBM Panasonic, what are they telling you? So they're seeing a couple of things. One in fact in places they're still working their way through inventory that built up over the past couple of years while they waited for that, that famous golden screw. And they're also telling us that they're now starting to re evaluate their own supply chain processes, that they get better visibility to semi semiconductor supply going forward. And despite all of that, your company just reported very strong sales. In fact you told investors they were the strongest financial results of any year in the history of the company. So can you keep up that pace or can you do better in 2023, given everything you've told us, I think there's enough uncertainty out there to uh to tell us that, you know, looking much beyond 90 days is going to be a bit of a challenge. Having said that we still believe in the big mega trends over the long term and you know, we want to come out of this year, even if it's more challenging in a position to really hit the ground running in 2024 beyond. So we're gonna stay invested in our our growth priorities as best we can. So what if the U. S. Economy goes into recession, what does that do for your plans? Well, you know, I think this is a time where the phrase uh cautiously optimistic is very appropriate obviously if a recession were to occur more deeply, you know, we're certainly well prepared. I think the big question is you know, are we in for a moderate decline over a reasonable period of time or are we in for something sharper and longer lasting? And there's still I think a number of variables to play out including you know, the question around you know, when does the chinese economy get back up on its feet? Well whatever happens with the economy and the business environment, I understand that you are laser focused on hiring, tell us why what is your thinking on that? Well look, we think beyond this year we think the you know the big technology megatrends are all lining up in our favor. You know, we talk about the electrification of everything, you know, E. V. In the automotive industry is a great example. We talk about, you know, the automation that we're now seeing embraced in the medical device and healthcare industry. We think that's a great future market for us as well. So I think the job of any Ceo and his or her team uh in a more challenging year is to make sure they emerge even stronger uh than when they came into the year. And so we know exactly where we think growth will come from long term and for us that means more sales capacity, that means more engineers. And that means more people to be able to help our big customers and suppliers manage their supply chains. And I really don't want to take the foot off the gas when it comes to those disciplines uh for our prospects down the road. Well, are you finding it easier for Arrow to find top talent given that there are so many talented tech people looking for jobs right now? I wouldn't call it easy. Um and I would say attrition is still higher than it's been historically across the industry. So we've developed a pretty good motion around, you know, constantly looking to replace people that may have left at the same time looking for new talent to fill uh new roles that we're investing in. I think our our HR team does a really good job sourcing from all kinds of places. And um you know, I'd say we're keeping up pretty, respectively, you've also made it a priority to hire and promote more women in leadership positions. You've said we need to do better. How's that going so far? You know, Suzy, I've always believed that, you know, we're going to be most effective when we look like the world around us and so we're making progress, you know, building a more diverse uh workforce, not just in the individual contributor ranks, but also at the top of the house. I'm really proud to say that we now have four women on our executive committee, but don't get me wrong, there's still a lot more for us to do. Well sean, let's talk a little bit about you, you became Ceo of arrow just last summer and this is the first time that you've been Ceo, what's the most important leadership lesson that you've learned so far as you're running a huge fortune 500 company? You know, I'd say two things. The first is learning is paramount as a ceo. You now encounter things that maybe you never did before in your career. So you've got to be willing to probe and learn, uh, each and every day. The second is you've also got to learn how to let go and rely increasingly on others to get the right things done for your company. And I would say I'm making progress with both, but it is a journey. Well you said many times that you learned a lot about team building and leadership from playing basketball at Syracuse University, you are the captain, you were the star player. And what would you say that college sports taught you about leadership? You know, I think sports is a great proxy for what you'll find in the professional and working world. Uh, you just don't happen to know it at the time, but you know, being part of a team means you're part of something bigger than just you. Uh, and there's a lot of reward in that. But great teamwork comes with lots of trust and lots of sacrifice and that's a lesson that stood with me over time. I think the other things you learned from competitive support, competitive athletics at a young age is this idea of overcoming adversity when things don't go well, this idea of persistence and work ethic because you know, you don't get good overnight, you get good over time. Um and that's true of companies and leadership as well. Uh you know, you've got to continue to work on the skill sets that will make you better. Well, your coach at Syracuse University was the legendary Jim Boeheim. What's the best advice you got from him about leadership when it comes to coach Boeheim? He was the one that taught me that as a leader. It's all about the examples you set and the deeds you do not the words you speak. And that's a lot about, it says a lot about how I think about leadership now as the Ceo of Arrow electronics. Well let's talk about that because in the corporate world, the job description for Ceo has changed so much over the past couple of years. The expectations um from customers from employees and from even the public has really increased. So knowing all of that, how would you describe the way that you want to leave Arrow electronics? You know, I think listening is more important than speaking, I think being accessible uh to your leaders and their employees in the right ways at the right times, uh, means a lot to them. I think being able to show them that you'll never ask the organization to do something that you're not willing to take on yourself. And being someone who, everyone understands, uh, will ensure the company always does. The right thing goes a long way to, you know, our character and our values going forward. And I will, you know, remain committed to those thoughts.

Everything from gas to electronics is poised to become more expensive.

Russia’s invasion of Ukraine will likely hurt your wallet

International

Russia’s invasion of Ukraine will likely hurt your wallet


Lack of supply is delaying the production of cars and electronics.

What's causing the global semiconductor shortage?

Mm Mm hmm. A surprise that the pandemic has some role to play in the current chip prices as people pivoted to working at home last year, demand for personal electronic search, prompting gadget makers to increase order for chip set. At the same time, demand for cars declined, prompting automakers to cut orders. Now, with the pandemic easing, automakers are looking to make a comeback. But chip makers a busy, satisfying demand for booming electronics sales. With supply now suddenly outstripping demand chip shortage emerged. Consolidation of the chip industry exacerbated the crisis. To many of them was leading chip designers like Qualcomm. New video, even Apple and Intel actually outsource some or all of our production to contract manufacturers. The world's leading contract manufacturer, TSMC manufacturers about half of the world's made to order chip supply. You have a 30% is made up by roughly three over company. With so few leaders, the industry doesn't have excess capacity to absorb any extra demand for the U. S. And Europe. It also doesn't help that three of the four leading chip makers are in Asia. That regional dominance creates a bottleneck in global supply lines. Mm yeah, mhm for the U. S. A likely solution will be the onshore, more chip production that will increase both domestic and global capacity for manufacturing. But this isn't a short term solution. America has already invested billions in invigorating the domestic industry, but building manufacturing plants takes years for now, for any way out of this chip crisis is just to wait mhm.

Welcome to what the tech we got to spend some time with the latest ebike from juiced, it's called Scorpion and we had a great time writing it. As you can immediately see this does not look like a traditional bank. It's designed more like a moped motorcycle. It'll definitely draw lots of looks from bystanders. The ride is really smooth. If you know how to ride a bike, you probably won't have too hard of a time getting a handle on this .>> Once you start pedaling, the motor kicks in to give you a nice boost and it makes the bike feel weightless. The throttle will let you control how fast or slow you go and the brakes are pretty much the same as you'd have on a standard bike. So there's really not a steep learning curve. [ MUSIC ] [ MUSIC ] The Scorpion has a 750 watt motor which is more powerful compared to lots of other eBikes. It also has a 45 mile range. So if you're worried at all about getting to work and back, don't be. We took the bike out for several hours a day and didn't need to charge it once. This thing moves pretty fast. You'll easily be speeding past other riders. It advertises that it goes up to 28 miles an hour but on most settings I got up to 25, 26 max. It also has a few different speed settings. One through three give you varying degrees of motor assistance as you pedal. R will give you the most power, followed by S. And then there's zero, which basically means that you're in control of making the bike move. Then Scepter frame allows you to easily get on and off the bike. I'm only 5'2 so I was pretty worried that it might be too big for me. But I had no problem. It's a very comfortable ride with front and rear suspension cushion seat. So you basically feel like you're riding motorcycle. Sure the bike is heavy, but when you're writing, you don't notice it too much because of that throttle on that motor. We tested the scorpion in New York City where it's really convenient to cycle instead of drive, take a cab or take the train, but you also have to think about whether. Fit in a bike rack, you can get it up the stairs or even fit it into an apartment. The e- bike market is something of the Wild West right now. And there are lots of great bikes out there at different price points. The Scorpion ships Spring of 2020. And it's available for preorder now for 2200 Hundred dollars. [ MUSIC ] [ BLANK_AUDIO ]

Juiced Bikes Scorpion Is An E-Bike With A Motorcycle Spirit

Autos

The moped-style e-bike retails for $2,199.

We saddled up the Scorpion, a new model from e-bike company Juiced Bikes. Retailing for $2,199, the moped-style e-bike is currently available for pre-order before it begins shipping in May 2020.

LG Electronics

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