Flex Announces Expected CFO and Board Leadership Following Planned Separation
Flex has announced a series of leadership and board appointments as the company prepares for the planned separation of its Cloud and Power Infrastructure segment into an independent publicly traded company, which will be named Axiom Solutions International, Inc. (Axiom).
As part of the transition, Flex announced that Amy B. Schwetz will join the company as Chief Financial Officer (CFO) of its Regulated Manufacturing Services (RMS) and Integrated Technology Services (ITS) segments on October 5, 2026. Following completion of the planned separation, Schwetz is expected to become CFO of Flex.
The company also announced the expected post-separation composition of the Boards of Directors of both Flex and Axiom. The proposed board structures include four new director appointments and are intended to provide each company with leadership and expertise relevant to its respective businesses as the two organizations operate independently.
Amy B. Schwetz to Join Flex Leadership Team
Schwetz brings more than 25 years of experience in finance and accounting, including senior financial leadership positions at major industrial and public companies.
Before joining Flex, Schwetz served as Chief Financial Officer of Flowserve. Prior to that, she spent 14 years at Peabody Energy, where she held increasingly senior finance positions and gained extensive experience in corporate finance and industrial operations.
She began her professional career at Ernst & Young, building a foundation in accounting and financial management before moving into corporate leadership roles.
At Flex, Schwetz will initially serve as CFO for the company’s RMS and ITS segments. Upon completion of the planned separation, she is expected to take on the role of CFO of Flex, supporting the company as it moves forward as an independent organization.
Expected Flex Board Following Separation
Flex’s post-separation Board of Directors is expected to bring together experience spanning global manufacturing, technology, finance, human resources and public-company leadership.
The expected Flex Board will include:
- Revathi Advaithi, CEO of Flex and expected CEO of Axiom, who will serve as Chair
- Michael Hartung, Chief Commercial Officer of Flex and expected CEO of Flex
- John D. Harris II, former CEO of Raytheon International, Inc.
- Erin L. McSweeney, Chief People Officer of UnitedHealth Group
- Lay Koon Tan, former CEO of STATS ChipPAC
- Patrick J. Ward, former CFO of Cummins
- George R. Oliver, former Chair and CEO of Johnson Controls
- Brian Yoor, former CFO of Abbott Laboratories
Before the separation is completed, Flex plans to appoint a Lead Independent Director to its Board, with the appointment becoming effective upon completion of the separation.
The planned board composition is designed to provide Flex with a broad range of experience as the company continues to focus on manufacturing, technology and supply chain services following the transaction.
Expected Axiom Board Following Separation
Axiom’s expected Board of Directors will combine experience in the electrical industry, technology, global operations and financial management.
The expected Axiom Board will include:
- William D. Watkins, former CEO of Seagate Technology, who will serve as Chair
- Revathi Advaithi, CEO of Flex and expected CEO of Axiom
- Michael E. Hurlston, CEO of Lumentum
- Charles K. Stevens III, former CFO of General Motors
- Maryrose Sylvester, former U.S. Managing Director and U.S. Head of Electrification of ABB
- Mark Eubanks, CEO of Brink’s
- David Johnson, CFO of Corteva, Inc.
The combination of industry and financial expertise is expected to support Axiom as it establishes itself as an independent company following the separation.
New Director Appointments
Four new directors will join the boards as part of the planned transition.
George R. Oliver and Mark Eubanks will join the Flex Board effective September 24, 2026. Following completion of the separation, Oliver will remain on the Flex Board, while Eubanks will transition to the Axiom Board.
Brian Yoor is expected to join the Flex Board upon completion of the separation, while David Johnson is expected to join the Axiom Board at that time.
New Flex Director Expertise
Oliver brings extensive experience in global industrial leadership. He previously served as Chair and CEO of Johnson Controls and as CEO of Tyco International. His career includes decades of experience in manufacturing, operations, technology and corporate strategy. He currently serves on the boards of RTX Corporation and NVR, Inc.
Yoor previously served as CFO of Abbott Laboratories, where he was responsible for areas including global finance, capital allocation, investor relations and financial strategy. During more than two decades at Abbott, he held senior financial positions across its diagnostics, nutrition and pharmaceutical businesses. His experience includes financial management, capital markets, investor relations and audit oversight.
New Axiom Director Expertise
Eubanks currently serves as CEO and a director of Brink’s. He previously held leadership positions at Otis and served as Group President of Eaton’s Electrical Products business, where he was responsible for operations generating approximately $6 billion in annual revenue. His background provides extensive experience in the electrical products industry and global operations.
Johnson currently serves as CFO of Corteva, Inc. He previously served as CFO and Chief Accounting Officer of Atkore and spent 29 years at Eaton, most recently as Vice President of Finance and Operations for its Electrical Sector business. He brings more than three decades of financial and operational experience, including significant knowledge of the electrical products industry.
Planned Separation Expected in 2027
It expects the planned separation to be completed during the first quarter of calendar year 2027, subject to customary conditions and approvals.
These conditions include final approval by the Flex Board of Directors, the effectiveness of Axiom’s Form 10 registration statement filed with the U.S. Securities and Exchange Commission (SEC), and approval from Flex shareholders and the Singapore High Court.
Following completion of the transaction, Flex and Axiom are expected to operate as separate, independent publicly traded companies.
The separation is intended to establish distinct organizations with independent management teams, boards and strategic priorities. It will continue its focus on its manufacturing and technology services businesses, while Axiom will operate independently with its Cloud and Power Infrastructure portfolio.
About Flex
It is a global manufacturing partner that helps leading brands design, build and manage products and technologies. Operating across approximately 30 countries, Flex provides manufacturing and supply chain solutions, product development and technology services, and lifecycle support from concept through scale.
As demand for AI infrastructure grows, It is helping customers address challenges related to data-center power, cooling and deployment through power and cooling technologies and scalable IT infrastructure solutions.
Additional information regarding It’s planned separation of its Cloud and Power Infrastructure portfolio is available through the company’s transaction resources.
Forward-Looking Statements
It’s announcement contains forward-looking statements concerning the planned separation, including its expected timing, potential benefits, leadership arrangements, financial structures and future operations of Flex and Axiom.
These statements are based on current expectations and assumptions and are subject to various risks and uncertainties. Factors that could affect the transaction include delays or failure to satisfy required conditions, regulatory or shareholder approvals, the effectiveness of the Form 10 registration statement, tax considerations, transaction costs, operational disruption and the ability to achieve the anticipated benefits of the separation.
Other risks include potential effects on employees, customers, suppliers and business partners; management distraction; retention of key personnel; changes in economic and industry conditions; geopolitical developments; and uncertainty regarding the future financial performance of either company.
Investors are encouraged to review It’s filings with the SEC, including its Annual Report on Form 10-K and subsequent filings, for additional information concerning these and other risks.
It and Axiom intend to file relevant materials with the SEC in connection with the proposed separation. Investors and security holders should review the applicable proxy statement, Form 10 registration statement and other filings carefully when they become available, as these documents will contain important information regarding Flex, Axiom and the proposed transaction.
Source Link: https://investors.flex.com/