Flex
Ms. Revathi Advaithi (CEO & Director)
Mr. Paul R. Lundstrom (Chief Financial Officer)
Mr. Scott Offer (Exec. VP & Gen. Counsel)
Summary
History
The company was founded in 1969 as Flextronics, Inc.In 1990, the company was renamed Flextronics International, Ltd. and registered in Singapore. In 1993, the company received venture capital funding through Sequoia Capital, and became a publicly held company again in 1994. In 2000, the company ranked third on "100 Best-Managed Companies" by IndustryWeek. In 2006 Flextronics took over a part of the production of Lego, but in 2009 Lego decided to end relations with Flextronics and purchase the production facilities in Mexico and Hungary. On 4 June 2007, Flextronics offered to purchase Solectron for US$3.6 billion and thus making Solectron a subsidiary of Flextronics. The acquisition of Solectron was completed by end of October 2007, earlier than anticipated.
On 18 March 2009, Flextronics was invited to ring the NASDAQ stock market opening bell, signifying the day's start of trading and celebrated 15-year NASDAQ-listed anniversary. Mike McNamara and a group of top executives represented the company at the ringing of the bell. On 25 August 2009, Flextronics announced that it was chosen by LG Electronics , a global provider of advanced digital products and applied technologies, to manufacture 19, 22, 26, 32, and 37-inch LCD television receivers at its Ciudad Juárez, Mexico facility for distribution to the North and South American markets. On 2 September 2009, Flextronics announced that Multek received Danaher Test and Measurement's 2009 Outstanding Supplier Award. The award was given based on quality, delivery performance, engineering support and cost for work with two of Danaher's business units, Tektronix and Fluke.On 15 September 2010, Flextronics announced that it had been chosen by Brammo, Inc., former producer of electric traction motors and traction batteries, to be its manufacturing partner for the production and distribution of plug-in electric motorcycles and components. In 2010, the company signed an agreement with Lenovo to provide manufacturing for Europe. That same year, Flextronics also signed an agreement with Brammo to provide acquisition and manufacturing in North America, Asia and Europe.
In 2012, Flextronics incubated Elementum, a start-up supply chain management company based in Mountain View, California. In 2014, Elementum was spun off from Flextronics as its own separate entity.In 2014, Flextronics was named as the manufacturer of the Fitbit Force by the US Consumer Product Safety Commission in the context of a complete recall of the product due to rashes developing on the wrists of its users.In July 2015 the company announced it changed the company name from Flextronics to Flex.In September 2015, Flex acquired Nextracker, one of the leading solar tracker companies, for $330 million.In November 2015, Flex, acquired Wink smart home platform to bring the Intelligence of Things "Home". Flex has been a strategic partner to Wink, serving as their primary supplier of hardware and firmware, including the Wink Hub and Wink Relay, which include core intellectual property developed within Flex. In July 2017, Flex sold Wink to i.am+ for $38.7 million.On 31 December 2018, Michael M. McNamara resigned as the company's Chief Executive Officer. McNamara worked at Flex for twenty-four years. He served as the company's CEO from 2006 to 2018. At the time of his retirement, Flex had $25 billion in revenue and over 200,000 employees worldwide. The Board of Directors hired an executive recruiting company to assist with its search for a new CEO. On 11 February 2019, Flex announced Revathi Advaithi as CEO. Prior to Flex, Advaithi was president and chief operating officer for the Electrical Sector business for Eaton Corporation.
Mission
Vision
Key Team
Mr. Michael P. Hartung (Pres of Flex Agility Solutions)
Mr. Hooi Tan Kwang (Pres of Global Operations & Supply Chain)
Mr. Daniel Wendler (Chief Accounting Officer)
Silvia Gianelli (Sr. Director of Corp. Communications)
Mr. Gus Shahin (Chief Information Officer)
Mr. Xavier F. Boza (Chief HR Officer)
Mr. David Rubin (VP of Investor Relations)
Recognition and Awards
References
Ms. Revathi Advaithi (CEO & Director)
Mr. Paul R. Lundstrom (Chief Financial Officer)
Mr. Scott Offer (Exec. VP & Gen. Counsel)