THIEF RIVER FALLS, MN -- Digi-Key Electronics today announced Dave Doherty the company’s executive vice president of operations, will succeed president and chief operating officer Mark Larson.
Larson has been at the company for 39 years, and will become vice chairman.
The transition will be effective July 1.
Since Larson joined Digi-Key in 1976, the component distributor has grown from $800,000 in annual sales to $1.76 billion, while headcount has jumped from 14 employees in Thief River Falls to more than 3,400 employees globally.
Larson was inducted in 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 and as well as the electronic component industry’s greatest acknowledgment, the Gail S. Carter Award, as tribute for his accomplishments and contributions to the electronics industry.
“It’s certainly been an amazing ride,” said Larson. “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.”