Flex Ltd. Announces Board Appointments and Spin-Off Update

Flex Ltd. has announced significant updates regarding its corporate leadership and the planned separation of its Cloud and Power Infrastructure business into a new entity, Axiom Solutions International, Inc. Effective September 24, 2026, George R. Oliver and Mark Eubanks have been appointed to the Flex Board of Directors as independent directors. They will receive compensation packages including annual cash compensation and restricted stock units. Following the separation, Oliver will continue on the Flex Board, while Eubanks will transition to the Axiom Board. Additionally, Brian Yoor and David Johnson are expected to join the Flex and Axiom boards, respectively, upon completion of the spin-off. Amy B. Schwetz is set to join Flex as CFO of its Regulated Manufacturing Services and Integrated Technology Services segments on October 5, 2026, and is expected to assume the role of Flex CFO post-separation. The company also provided an update on the spin-off, expected in the first quarter of 2027, subject to customary conditions and approvals. Flex has filed relevant documents with the SEC, including a proxy statement and Axiom's Form 10 registration statement, urging investors to review these materials for important information regarding the transaction.