Flex announced that consistent with its succession plan, Michael D. Capellas, non-executive Chair of the Board of Directors of Flex, has informed the Board of his decision not to stand for re-election to the Board at the company's 2024 Annual General Meeting of shareholders to be held on August 8, 2024. Mr. Capellas has served on the company's board for 10 years, including as Chair since 2017, during which time he played a key role in building Flex's reputation as a trusted global technology, supply chain and manufacturing solutions partner and driving the company's success. William D. Watkins, an independent director who has served on the Flex Board since 2009, has been appointed by the Board to succeed Mr. Capellas as Chair of the Board effective upon the conclusion of the 2024 Annual General Meeting subject to his re-election.
Flex Ltd. is the manufacturing partner that helps brands design, build, deliver and manage products. The Company delivers advanced manufacturing, data center IT and power infrastructure solutions. Its segments include Flex Agility Solutions (FAS) and Flex Reliability Solutions (FRS). The FAS segment consists of various end markets, such as Communications, Enterprise and Cloud, including data infrastructure, edge infrastructure and communications infrastructure; Lifestyle, including appliances, consumer packaging, floorcare, micromobility and audio; and Consumer Devices, including mobile and high velocity consumer devices. The FRS segment consists of end markets, such as Automotive, including mobility, autonomous, connectivity, electrification, and smart technologies; Health Solutions, including medical devices, medical equipment and drug delivery; and Industrial, including capital equipment, industrial devices, embedded and critical power offerings and renewables and grid edge.
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