Michael Clarke Named CEO of Sanmina
August 31, 2018 | PRNewswireEstimated reading time: 2 minutes
Bob Eulau has resigned as CEO of Sanmina Corp. The board of directors unanimously voted to appoint Michael Clarke, a member of the board since 2013, as CEO effective October 1, 2018. In the interim, Jure Sola will lead the company as executive chairman.
"I would like to thank Bob for his hard work and dedication during his nine years of service with the company and wish him well in his future endeavors," stated Sola, Sanmina's executive chairman of the board.
Clarke has more than 30 years of senior executive, business development and hands-on operational experience managing global companies in electronics manufacturing for the telecommunications, industrial, aerospace and automotive industries.
Clarke was the president and chief executive officer of Nortek Inc. a leading global manufacturer of innovative, branded air management, security and technology products for home and work environments from 2011 until its acquisition in 2016. From 2005 until he joined Nortek, Clarke was group president of Integrated Networks Solutions, a $12 billion business at Flex Ltd.
Clarke held the position of president and general manager for Sanmina's Enclosure Systems Division from 1999 to 2005. Prior to Sanmina acquiring Devtek Electronic Packaging Systems in 1999, he was president and chief executive officer of Devtek from 1991 to 1999.
"The board of directors and I are delighted to have Michael join Sanmina as CEO. Michael's breadth of industry experience and specific knowledge of Sanmina's management team and capabilities will be invaluable to the strategic direction of Sanmina and our future performance," says Sola.
"It is truly an honor to join Sanmina as CEO," stated Clarke. "I have long admired Sanmina's deep history, its culture of excellence, its world class manufacturing, and its strong financial position. I look forward to working with my Sanmina colleagues around the world to tackle the many exciting opportunities presented by our markets while continuing our tradition of exceeding the expectations of our customers and partners and achieving the highest shareholder value."
Sanmina Reaffirms Outlook
Separately, the Company announced that it is reaffirming its fiscal fourth quarter outlook ending September 29, 2018. The company continues to expect revenue to be in the range of $1.825 to $1.875 billion. We expect GAAP diluted earnings per share between $0.50 to $0.56, including stock-based compensation expense of $0.11 and amortization of intangible assets of $0.02, and non-GAAP diluted earnings per share between $0.63 to $0.69.
About Sanmina
Sanmina Corporation is a leading integrated manufacturing solutions provider serving the fastest growing segments of the global electronics manufacturing services (EMS) market. Recognized as a technology leader, Sanmina provides end-to-end manufacturing solutions, delivering superior quality and support to original equipment manufacturers (OEMs) primarily in the communications networks, storage, industrial, defense, medical, automotive and energy industries. Sanmina has facilities strategically located in key regions throughout the world. More information about the company is available here.
Suggested Items
NEOTech Positions Itself as Microelectronics Industry Leader with High-Technology Investments
05/09/2024 | NEOTechNEOTech, a leading provider of electronic manufacturing services (EMS), design engineering, and supply chain solutions in the high-tech industrial, medical device, and aerospace/defense markets, announces a significant investment in acquiring new Palomar 8100 wire bonder machines, enhancing the company’s positioning as a leader of cutting-edge microelectronics assemblies for mission-critical applications.
MKS’ Atotech, ESI to Participate in CPCA Show
05/09/2024 | MKS’ AtotechMKS’ Atotech, and ESI will participate in the CPCA Show 2024. The show will be held from May 13 to 15, 2024, at the National Exhibition and Convention Center (Shanghai) and will bring together domestic and international manufacturers in the electronic circuit industry.
Dragonfly Energy Announces Breakthrough in Lithium Battery Production: Eliminating Harmful “Forever Chemicals”
05/09/2024 | Globe NewswireDragonfly Energy Holdings Corp., an industry leader in green energy storage, has made a significant breakthrough in battery manufacturing with the successful production of PFAS-free electrodes in lithium battery cells.
Connect the Dots: Designing for Reality—The Pre-Manufacturing Process
05/08/2024 | Matt Stevenson -- Column: Connect the DotsI have been working with Nolan Johnson on a podcast series about designing PCBs for the reality of manufacturing. By sharing lessons learned over a long career in the PCB industry, we hope to shorten learning curves and help designers produce better boards with less hassle and rework. Episode 2 deals with the electronic pre-manufacturing process. Moving from CAD (computer-aided design) to CAM (computer-aided manufacturing) is a key step in PCB manufacturing. CAM turns digital designs into instructions that machines can use to actually build the PCB.
All Flex Solutions Hires Mike Madetzke as Manager of R&D
05/08/2024 | All Flex SolutionsAll Flex Solutions is very pleased to announce that Mike Madetzke has joined their team as their new Manager of Research and Development.