Why is the company reporting a CFO departure and appointment?

This filing is a routine disclosure required by the SEC for significant corporate events, such as changes in principal officers. It informs investors about leadership transitions that could impact the company's financial operations and strategy.

What is Christopher Collier's background and experience with Flextronics?

Christopher Collier has a deep and long-standing history with Flextronics, having joined the company in April 2000. He has held positions including Vice President, Finance and Corporate Controller, Senior Vice President, Finance, and most recently, Principal Accounting Officer since May 2007. This extensive experience within the company's finance department suggests a smooth transition.

What is the compensation package for the new CFO?

Christopher Collier will receive an annual base salary of $550,000, effective May 3, 2013. He is also eligible to participate in the company's annual incentive bonus plan, with a potential bonus of up to 100% of his base salary. Additionally, he will receive a grant of restricted share units, the specifics of which will be determined by the Compensation Committee.

Are there any immediate financial implications from this CFO change?

While the filing itself doesn't detail immediate financial impacts, the transition of a CFO can be a period of adjustment. Investors will likely look to future earnings calls and financial reports to assess how the new CFO's leadership influences financial strategy, cost management, and capital allocation. The compensation package indicates the company's commitment to retaining and incentivizing the new CFO.

FLEX 8-K: Leadership Changes

Summary

Flextronics International Ltd. (FLEX) filed an 8-K on May 3, 2013, to report a significant executive transition. The company announced the departure of its Chief Financial Officer, Paul Read, effective May 3, 2013. This change in financial leadership is a key event for investors to note, as the CFO role is critical for financial strategy and execution. Simultaneously, Flextronics appointed Christopher Collier as the new Chief Financial Officer, also effective May 3, 2013. Mr. Collier has a long tenure with the company, having served as Principal Accounting Officer and in various senior finance roles since 2000. The filing details his new compensation package, including an annual base salary of $550,000 and eligibility for a bonus up to 100% of his base salary, with performance-based and service-based restricted share units to be determined. Investors should monitor the impact of this transition on the company's financial reporting and strategic direction.

Key Highlights

1Departure of Chief Financial Officer, Paul Read, effective May 3, 2013.
2Appointment of Christopher Collier as the new Chief Financial Officer, effective May 3, 2013.
3Christopher Collier has extensive experience with Flextronics, serving in various finance roles since 2000 and as Principal Accounting Officer since 2007.
4Mr. Collier's new annual base salary is set at $550,000.
5Mr. Collier is eligible for an annual incentive bonus of up to 100% of his base salary.
6A grant of performance-based and service-based restricted share units for Mr. Collier is to be determined by the Compensation Committee.
7The company issued a press release on May 3, 2013, announcing these changes, attached as Exhibit 99.1.

FLEX LTD. 8-K Report, Executive Changes (May 3, 2013)

Summary

Key Highlights

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