Flex (NASDAQ: FLEX) named Amy B. Schwetz as CFO of its Regulated Manufacturing Services and Integrated Technology Services segments, effective Oct. 5, as the electronics manufacturer prepares for a planned business separation.
Schwetz, who brings more than 25 years of finance and accounting experience, is expected to serve as Flex CFO once the separation of its Cloud and Power Infrastructure segment completes. She most recently served as CFO of Flowserve and previously held the same role at Peabody Energy for 14 years. Her career began at Ernst & Young.
The Cloud and Power Infrastructure division will become an independent company called Axiom Solutions International, Inc., expected to spin off in the first quarter of calendar 2027, subject to customary conditions including final board approval, effectiveness of a Form 10 registration statement filed with the SEC, Flex shareholder approval, and Singapore High Court approval.
Current Flex CEO Revathi Advaithi is expected to become CEO of Axiom and chair of the Flex Board following the separation, and will also sit on the Axiom Board. Michael Hartung, Flex's chief commercial officer, is expected to become CEO of the remaining Flex business.
The Flex Board is also welcoming new directors. George R. Oliver, former chair and CEO of Johnson Controls, and Mark Eubanks, CEO of Brink's, are joining the board Sept. 24; Eubanks will transition to the Axiom Board after the separation. Brian Yoor, former CFO of Abbott Laboratories, and David Johnson, CFO of Corteva, are both expected to join the Axiom Board upon completion of the spinoff. William D. Watkins, former CEO of Seagate Technology, is expected to chair the Axiom Board.
