Fabrinet Appoints Forbes Alexander to Board of Directors

Rhea-AI Summary

Fabrinet (NYSE: FN), a key player in optical packaging and manufacturing, has appointed Forbes Alexander to its Board of Directors, expanding the board to eight members. Alexander will join the Board’s Audit Committee and brings significant executive and financial expertise, having previously held leadership roles at Jabil (NYSE: JBL) and other technology firms. His extensive background includes positions in finance and board memberships at various high-profile companies. Both Tom Mitchell, Chairman, and Seamus Grady, CEO of Fabrinet, praised Alexander's EMS industry experience and financial acumen as valuable assets for the company's growth and leadership. Alexander expressed enthusiasm about contributing to Fabrinet's ongoing success and reputation in the EMS industry.

Positive

• Appointment of Forbes Alexander, with extensive financial and executive experience, to the Board of Directors.
• Expansion of the Board to eight members, indicating growth and strategic development.
• Alexander's prior roles at Jabil, a significant player in EMS, add valuable industry insights.
• Positive endorsements from Tom Mitchell and Seamus Grady signal confidence in Alexander's potential impact.
• Alexander’s background in finance and executive leadership is expected to benefit the company's strategic initiatives.

Negative

• No specific financial data or performance metrics were provided in the PR.
• The announcement does not include immediate, concrete impacts on stock performance or business outcomes.
• Potential risk of over-reliance on Alexander's experience without clear strategic plans outlined.

BANGKOK--(BUSINESS WIRE)-- Fabrinet (NYSE: FN), a leading provider of advanced optical packaging and precision optical, electro-mechanical and electronic manufacturing services to original equipment manufacturers of complex products, today announced that Forbes Alexander has been appointed to the Company’s Board of Directors, expanding the Board to eight members. Mr. Alexander will also serve as a member of the Board’s Audit Committee.

Mr. Alexander is an accomplished leader who brings extensive executive experience and financial knowledge to the Board. Mr. Alexander has served as a founding partner of Steadfast Partners LLP, an industrial technology advisory group, since January 2020. Mr. Alexander served as Executive Vice President of Jabil Inc. (NYSE: JBL), a global electronic manufacturing services (EMS) company, from September 2018 to January 2020, as Chief Financial Officer of Jabil from September 2004 to August 2018, and in other roles in finance at Jabil from 1993 to 2004. Prior to his roles at Jabil, Mr. Alexander held various finance roles in companies such as Tandy Electronics, Ltd., Octocom Systems U.K. Ltd. and Apollo Computer (acquired by Hewlett-Packard in 1989).

“Forbes brings extensive skills and experience to our Board of Directors,” said Tom Mitchell, Chairman of Fabrinet’s Board of Directors. “As an EMS industry veteran and financial leader, Forbes provides valuable executive perspectives that will benefit our organization as we continue to scale.”

Seamus Grady, Chief Executive Officer of Fabrinet, said “We are thrilled to have someone with Forbes’ distinguished experience and deep knowledge of the EMS space joining our Board. Combined with his many years of financial leadership, Forbes is an excellent addition to our organization, as we continue to advance our leadership position as a trusted manufacturing partner of the world’s most demanding OEMs.”

“I am excited and honored to be joining Fabrinet’s Board at this dynamic time in the company’s history,” said Mr. Alexander. “Fabrinet has carved a unique leadership position in the EMS industry, while expanding its excellent reputation in the marketplace. I am looking forward to contributing to the company’s continued growth and success.”

Previously, Mr. Alexander was a member of the board of directors and audit committee of McDermott International, Inc., a global engineering, procurement, construction and installation company, from June 2018 to April 2020 and Chicago Bridge & Iron Company N.V. (which merged into McDermott in 2018), an engineering, procurement and construction company, from May 2017 to May 2018. Mr. Alexander also currently serves on the board of directors of the Entrepreneurial Scotland Foundation (USA), a non-profit organization. Mr. Alexander earned a bachelor of arts degree in accounting from Abertay University.

About Fabrinet

Fabrinet is a leading provider of advanced optical packaging and precision optical, electro-mechanical, and electronic manufacturing services to original equipment manufacturers of complex products, such as optical communication components, modules and subsystems, automotive components, medical devices, industrial lasers and sensors. Fabrinet offers a broad range of advanced optical and electro-mechanical capabilities across the entire manufacturing process, including process design and engineering, supply chain management, manufacturing, advanced packaging, integration, final assembly and testing. Fabrinet focuses on production of high complexity products in any mix and any volume. Fabrinet maintains engineering and manufacturing resources and facilities in Thailand, the United States of America, the People’s Republic of China, and Israel. For more information visit: www.fabrinet.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240614635148/en/

Investor Contact:

Garo Toomajanian

ir@fabrinet.com

Source: Fabrinet

FAQ

What is the significance of Forbes Alexander joining Fabrinet's Board of Directors?

Forbes Alexander brings extensive executive and financial experience, which is expected to benefit Fabrinet as it continues to scale its operations.

How many members are now on Fabrinet's Board of Directors?

With the appointment of Forbes Alexander, Fabrinet's Board of Directors now comprises eight members.

What roles has Forbes Alexander held in the past?

Forbes Alexander has held significant roles such as Executive Vice President and CFO at Jabil, and has been involved in finance roles at various other technology firms.

What impact might Forbes Alexander's appointment have on Fabrinet (NYSE: FN)?

Alexander's extensive experience in the EMS industry and financial leadership is expected to positively influence Fabrinet's strategic direction and growth.

Why did Fabrinet (FN) appoint Forbes Alexander to its Board?

Fabrinet appointed Forbes Alexander for his comprehensive experience in executive leadership and financial management, aiming to leverage his expertise for the company’s growth and scaling efforts.