 |
Breaking
eBusiness and Search News |
|
 |
Flextronics Chief Stepping Down In ‘06
The contract electronics manufacturer will see its CEO Michael Marks yield the chair to COO Michael McNamara.
Flextronics, which builds Xbox consoles for Microsoft and printers for Hewlett Packard, announced the change at an analysts' meeting in San Francisco.
Mr. Marks has been CEO since 1994, and Mr. McNamara has been with the company since 1994 in a variety of positions. The company has navigated the highs of the dot-com boom and the subsequent bust, and now has annual revenues of $16 billion USD.
"It's been a pretty incredible run," said Mr. Marks of the company's fortunes. Flextronics also announced it would sell off stakes in two business units. Its network services business will merge with Telavie AS. Its semiconductor-design unit will be sold, but a buyer has not been announced.
The two transactions should add cash of $550 million to $600 million USD to the company.
Receive
Our Daily Email of Breaking eBusiness News
About the Author:
David Utter is a staff writer for WebProNews covering technology and business. Email him here.
 WebProNews RSS Feed
More Articles
Contact WebProNews |
|
|
 eBUSINESS
RESOURCES |
|
|
 |
|
| About
WebProNews |
WebProNews is the number
one source for eBusiness News. Over 5 million eBusiness professionals read
WebProNews and other iEntry business and tech publications.
WebProNews provides real-time coverage of internet
business.
Free Email Newsletters:
|
|
|
|
David Utter
