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Following up on its previous announcement that Chief Operating Officer Mark T. Mondello will become Chief Executive Officer on March 1, on Wednesday, Jabil Circuit (NYSE: JBL ) announced a pair of follow-on promotions. Effective March 1, Executive Vice President (EVP) William E. Peters moves up to the position of company President, while EVP William D. Muir, Jr. will be Jabil's new Chief Operating Officer. Both executives have been working for Jabil for more than 20 years.
In related news, Jabil says it has hired away Cisco Systems (NASDAQ: CSCO ) Vice President of Compensation, Benefits & M&A, Scott D. Slipy, to become its new EVP for Human Resources & Human Development.
Coming full-circle, as previously announced, current company President and CEO Timothy L. Main will be retiring in favor of Mondello on March 1.
Jabil shares closed 0.3% lower on Wednesday ahead of these announcements, at $19.10.