Flex Ltd.
Interim CFO Appointed and Compensation Changes Approved
Summary
On August 15, 2024, Flex Ltd. announced that Mr. Jaime Martinez has been appointed as the Interim Chief Financial Officer, effective August 1, 2024, following the resignation of the former CFO on July 31, 2024. The Board of Directors approved a new compensatory arrangement for Mr. Martinez, including a one-time RSU award with a grant date fair value of $300,000 and a monthly cash payment of $50,000. Additionally, the Board approved a base salary increase for Mr. Hooi Tan, the President, Global Operations and Components, from $700,000 to $735,000, effective August 1, 2024. Furthermore, Mr. Michael P. Hartung, the new Chief Commercial Officer, received an increase in his annual incentive bonus target from 100% to 110% of his base salary and a $500,000 increase in his long-term incentive award value for the 2025 fiscal year.
Profitelligence Alerts
Get alerts for FLEX
Be first to know when Flex Ltd. files with the SEC.
Filing Categories
Advertisement
About Flex Ltd.
Flex Ltd. is a leading manufacturing and supply chain solutions provider that operates on a global scale. The company primarily focuses on developing and delivering innovative product solutions for a broad range of industries including consumer electronics, industrial automation, automotive, healthcare, and energy. Leveraging advanced technologies and supply chain expertise, Flex Ltd. offers comprehensive services ranging from design, engineering, and manufacturing to logistics and post-production support. As a key player in the manufacturing sector, the company enables its clients to streamline their operations, reduce costs, and accelerate time-to-market for new products. Flex Ltd.'s strategic global footprint, encompassing facilities and offices in over 30 countries, highlights its significant role in facilitating a seamless flow of goods across international markets. Founded in 1969 and headquartered in Singapore, Flex Ltd. continues to influence how businesses adapt to evolving technological and market demands with its commitment to efficiency, sustainability, and innovation.
Official SEC Documents
Advertisement