Following up on its previous announcement that Chief Operating Officer Mark T. Mondello will become Chief Executive Officer on March 1, on Wednesday, Jabil Circuit announced a pair of follow-on promotions. Effective March 1, Executive Vice President (EVP) William E. Peters moves up to the position of company President, while EVP William D. Muir, Jr. will be Jabil's new Chief Operating Officer. Both executives have been working for Jabil for more than 20 years.
In related news, Jabil says it has hired away Cisco Systems Vice President of Compensation, Benefits & M&A, Scott D. Slipy, to become its new EVP for Human Resources & Human Development.
Coming full-circle, as previously announced, current company President and CEO Timothy L. Main will be retiring in favor of Mondello on March 1.
Jabil shares closed 0.3% lower on Wednesday ahead of these announcements, at $19.10.
The article Jabil Circuit Picks New President, COO, and HR VP originally appeared on Fool.com.Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool recommends Cisco Systems. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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