#United States #FLEX #Austin #Axiom #Amy Schwetz

Flex Announces CFO and Board Changes for Future Growth

Flex (Nasdaq: FLEX) has made significant changes in its leadership structure, anticipating a future spin-off of its business segment. Amy B. Schwetz is slated to join the firm on October 5, 2026, as the Chief Financial Officer (CFO) overseeing both the Regulated Manufacturing Services (RMS) and Integrated Technology Services (ITS) sectors. After the company's separation, Schwetz is expected to step into the role of CFO for the newly independent Flex.

Bringing over 25 years of extensive experience in finance and accounting, Schwetz previously served as CFO at Flowserve and held various finance roles, including a notable term at Peabody Energy. Her addition to Flex's executive team is seen as pivotal for driving the company’s financial strategy as it transitions into a new chapter following the separation from its Cloud and Power Infrastructure segment.

The anticipated separation will also lead to a revamped board of directors for both Flex and Axiom Solutions International, Inc. (Axiom). The newly announced board for Flex will feature key industry leaders such as Revathi Advaithi, the current CEO of Flex, who is expected to also take the reins as CEO of Axiom. Additional directors include former executives from renowned companies, adding valuable expertise in manufacturing, technology, finance, and operations.

The anticipated director appointments include:

• - George R. Oliver, former Chair and CEO of Johnson Controls.
• - Brian Yoor, former CFO of Abbott Laboratories.
• - John D. Harris II, former CEO of Raytheon International, Inc., and others who collectively bring a wealth of strategic oversight and industry knowledge.

For Axiom, the board will be led by William D. Watkins, ex-CEO of Seagate Technology, along with other notable figures like Mark Eubanks from Brink’s and David Johnson, who serves as CFO of Corteva, Inc. These appointments are intended to provide robust support as Axiom embarks on its independent journey.

The separation is scheduled for completion in the first quarter of 2027, with several customary conditions to be met, including approvals from the Flex Board of Directors and shareholders as well as regulatory compliance from the SEC. The fulfillment of these conditions is critical to ensure a smooth transition for both companies.

The Strategic Importance of This Move

Flex's strategic division into two independent public entities aims to sharpen both companies' focus and operational efficiency. With Schwetz at the financial helm and a diverse board guiding decisions, Flex positions itself to navigate market challenges effectively. The anticipated benefits post-separation include enhanced financial flexibility and targeted strategies tailored for growth in their respective sectors.

As both Flex and Axiom prepare for independent operations, stakeholders are optimistic about the potential for innovation and financial performance improvements. This transition not only represents a significant reorganization within the companies but signals an exciting evolution in their respective pathways forward.

The management is poised to leverage extensive industrial experiences to capitalize on new opportunities within the global market, ensuring that they remain competitive and well-positioned for future advancements.

For further updates, Flex encourages investors and interested parties to follow their announcements closely as they prepare for this pivotal strategic development.