Track the companies that matter to you. It's FREE! Click one of these fan favorites to get started: Apple; Google; Ford.

Recs

1

Flextronics Loses and Gains a CFO

Watch stocks you care about

The single, easiest way to keep track of all the stocks that matter...

Your own personalized stock watchlist!

It's a 100% FREE Motley Fool service...

Click Here Now

Singaporean contract electronics manufacturer Flextronics International (NASDAQ: FLEX  ) lost its chief financial officer today -- and immediately replaced him.

On Friday, Flextronics announced that CFO Paul Read has decided to leave the company "to pursue new opportunities." It immediately followed up this announcement with the revelation that Chief Accounting Officer Christopher Collier will replace Read as CFO effective immediately.

Collier will be paid a base salary of $550,000, and will be eligible for an annual bonus of up to 100% of salary, plus restricted share unit grants in an amount to be determined later.

Flextronics CEO Mike McNamara described Collier as "an instrumental leader in the company since 2000 [who] has been groomed for this position for many years." McNamara reassured investors that Collier "has a long standing successful track record in leading the Accounting, Mergers and Acquisitions, and Corporate Finance functions for the Company. His strong financial acumen, exceptional leadership and sharp strategic insight make Chris the natural successor for this role."

Investors appear satisfied. Flextronics shares closed the day up 1.6% at $6.94.


Read/Post Comments (0) | Recommend This Article (1)

Compare Brokers

Fool Disclosure

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2408234, ~/Articles/ArticleHandler.aspx, 9/29/2016 11:51:42 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Today's Market

updated Moments ago Sponsored by:
DOW 18,301.99 -37.25 -0.20%
S&P 500 2,167.54 -3.83 -0.18%
NASD 5,294.24 -24.31 -0.46%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

9/29/2016 11:35 AM
FLEX $13.52 Down -0.08 -0.59%
Flextronics Intern… CAPS Rating: ***