Avnet has appointed a senior executive to oversee its Internet of Things (IoT) strategy. Lou Lutostanski becomes vice president of Internet of Things (IoT) and will report to Pete Bartolotta, chief transformation officer for Avnet.
In his new role, Lutostanski will strengthen Avnet’s IoT strategy and further Avnet’s reach to makers, entrepreneurs, startups and other IoT innovators, enabling them to bring their IoT solutions to market, from idea to production.
“Leading the development of IoT is a core part of Avnet’s strategy for success. Lou brings decades of experience and industry knowledge to this important role,” said Bartolotta, chief transformation officer for Avnet. “The ability to reach a wider base of engineers earlier in the design process will be a key part of our future growth. Lou will work across all of Avnet to identify and create opportunities which further leverage our capabilities and address the rapidly evolving landscape of IoT.”
Avnet is gearing to fully capitalise on the high-growth potential of IoT. According to a recent McKinsey report, IoT has a potential economic impact of up to $11.1 trillion a year by 2025. IDC predicts that IoT will be comprised of nearly 30 billion connected devices by 2020, four times the global population.
“Avnet is in the driver’s seat of the Internet of Things,” said Lutostanski. “As one of the world’s largest technology distributors, Avnet is in a unique position to overcome issues of scale and time-to-market pressures faced by our customers. We will invest in reference designs and high ROI integrated solutions across the device, gateway, network and cloud which take IoT to the next level. I look forward to this exciting new role, and I am committed to supporting our customers through every stage of the IoT product lifecycle.”