Global electronic components distributor Digi-Key Electronics announced that its longtime President and Chief Operating Officer, Mark Larson, will pass the torch to Dave Doherty, the company’s executive vice president of operations. After 39 years with the company, Larson will join founder Ron Stordahl in a board-level role as vice chairman where he will serve as a company advisor.
Doherty will fill Larson’s former role of president and COO, reporting to Stordahl. The transition will be effective July 1, 2015. Since joining Digi-Key in 1976, Larson has led the company from $800,000 in annual sales to $1.76 billion today, and from 14 employees based in Thief River Falls, Minnesota, to more than 3,400 employees globally today.
Larson was inducted into the IDEA Hall of Fame in 2013 and into the Minnesota Business Hall of Fame in 2014. This year, he was awarded the Elektra European Electronic Industry Lifetime Achievement Award as well as the Electronic Components Industry Association’s highest honor, the Gail S. Carter Award, which pays tribute to Larson for his accomplishments and his contribution to the electronics industry.
“It’s certainly been an amazing ride,” Larson said in announcing the change. “Over the past 39 years, I’ve enjoyed the daily challenge of adapting and improving our business to better serve our customers. By staying the course and focusing on the fundamentals, we just kept doing what we did best better and better each day. Looking forward, as the industry continues to evolve, Digi-Key is well positioned for the next stage and I’m extremely confident in the future of the company with Dave Doherty at the helm.”