AVT 8-K
Avnet Inc (AVT)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM
CURRENT REPORT PURSUANT
TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 4.01 Changes in Registrant’s Certifying Accountant.
On September 30, 2025, the Audit Committee of the Board of Directors of Avnet, Inc. (the “Company”), following careful deliberation, approved PricewaterhouseCoopers LLP as the Company’s new independent registered public accounting firm, subject to completion of its standard client acceptance procedures. This decision resulted in the effective dismissal of KPMG LLP as the Company’s independent registered public accounting firm. KPMG LLP was informed of this decision on September 30, 2025.
KPMG LLP’s audit reports on the Company’s consolidated financial statements and financial statement schedule II of the Company and subsidiaries, and on the effectiveness of internal control over financial reporting, for the fiscal years ended June 28, 2025 and June 29, 2024, did not contain an adverse opinion or a disclaimer of opinion, nor were they qualified or modified as to uncertainty, audit scope, or accounting principles.
During the fiscal years ended June 28, 2025 and June 29, 2024, and the subsequent interim period through September 30, 2025, there were no: (i) “disagreements” (as defined in Item 304(a)(1)(iv) of Regulation S-K and the related instructions thereto) between the Company and KPMG LLP on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which disagreements, if not resolved to the satisfaction of KPMG LLP, would have caused KPMG LLP to make reference to the subject matter of the disagreement in connection with their opinion; or (ii) “reportable events” (as defined in Item 304(a)(1)(v) of Regulation S-K and the related instructions thereto).
In accordance with Item 304(a)(3) of Regulation S-K, the Company provided KPMG LLP with a copy of the disclosures it is making in this Current Report on Form 8-K and requested that KPMG LLP furnish a letter addressed to the Securities and Exchange Commission stating whether KPMG LLP agrees with the statements made herein and, if not, stating the respects in which it does not agree. A copy of KPMG LLP’s letter dated October 3, 2025, is filed as Exhibit 16.1 hereto.
During the fiscal years ended June 28, 2025 and June 29, 2024, and the subsequent interim period through September 30, 2025, neither the Company nor anyone acting on its behalf consulted with PricewaterhouseCoopers LLP regarding either (i) the application of accounting principles to any specific completed or proposed transaction, or the type of audit opinion that might be rendered on the Company’s financial statements, in connection with which a written report was provided to the Company or oral advice was provided that PricewaterhouseCoopers LLP concluded was an important factor considered by the Company in reaching a decision as to the accounting, auditing or financial reporting issue; or (ii) any matter that was either the subject of a “disagreement” (as defined in Item 304(a)(1)(iv) of Regulation S-K and the related instructions thereto) or a “reportable event” (as defined in Item 304(a)(1) (v) of Regulation S-K and the related instructions thereto).
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
The following materials are attached as exhibits to this Current Report on Form 8-K:
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16.1 |
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104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: October 3, 2025 | AVNET, INC. | |||
By: | /s/ Kenneth A. Jacobson | |||
Name: | Kenneth A. Jacobson | |||
Title: | Chief Financial Officer | |||
Exhibit 16.1
October 3, 2025
Securities and Exchange Commission
Washington, D.C. 20549
Ladies and Gentlemen:
We were previously principal accountants for Avnet, Inc. and, under the date of August 15, 2025, we reported on the consolidated financial statements of Avnet, Inc. as of and for the years ended June 28, 2025 and June 29, 2024 and the effectiveness of internal control over financial reporting as of June 28, 2025. On September 30, 2025, we were dismissed.
We have read Avnet, Inc’s statements included under Item 4.01 of its Form 8-K dated October 3, 2025, and we agree with such statements, except that we are not in a position to agree or disagree with Avnet, Inc.’s statements that the change was approved by the audit committee of the board of directors, or with the statements that neither Avnet, Inc. nor anyone acting on its behalf consulted with PricewaterhouseCoopers LLP regarding either (i) the application of accounting principles to any specific completed or proposed transaction, or the type of audit opinion that might be rendered on the Avnet, Inc.’s financial statements, in connection with which a written report was provided to the Avnet, Inc. or oral advice was provided that PricewaterhouseCoopers LLP concluded was an important factor considered by Avnet, Inc. in reaching a decision as to the accounting, auditing or financial reporting issue; or (ii) any matter that was either the subject of a “disagreement” (as defined in Item 304(a)(1)(iv) of Regulation S-K and the related instructions thereto) or a “reportable event” (as defined in Item 304(a)(1) (v) of Regulation S-K and the related instructions thereto).
Very truly yours,
/s/ KPMG LLP