Flex Ltd. announced leadership changes and updates regarding its planned separation of the Cloud and Power Infrastructure business into a new independent company, Axiom Solutions International, Inc. The company confirmed that the separation is expected to be completed in the first quarter of calendar 2027, subject to customary conditions, including final approval by the Flex Board of Directors, the effectiveness of a Form 10 registration statement filed with the U.S. Securities and Exchange Commission (SEC), and shareholder and Singapore High Court approval.
On September 15, 2026, Flex announced that Amy B. Schwetz will join the company as Chief Financial Officer (CFO) of its Regulated Manufacturing Services (RMS) and Integrated Technology Services (ITS) segments on October 5, 2026. She is expected to serve as Flex’s CFO following the completion of the separation. Schwetz brings more than 25 years of finance and accounting experience, having most recently served as CFO of Flowserve and previously as CFO of Peabody Energy.
The filing details the expected composition of the Boards of Directors for both Flex and Axiom following the separation. George R. Oliver and Mark Eubanks have been appointed as independent directors to the Flex Board, effective September 24, 2026. Mr. Oliver previously served as Chair and CEO of Johnson Controls, and Mr. Eubanks is the CEO and a director of Brink’s. Following the separation, Mr. Oliver will continue serving on the Flex Board, while Mr. Eubanks will transition to the Axiom Board.
Flex also disclosed the compensation structure for its non-management directors. Messrs. Oliver and Eubanks will receive an annual cash compensation of $90,000, payable quarterly in arrears. They are also entitled to a pro-rated share of the annual restricted stock unit award received by non-management directors following the last annual general meeting, as well as an annual restricted stock unit award following each annual general meeting of shareholders with an aggregate fair market value of $235,000.
The press release attached to the filing outlines the full expected board compositions for both entities. The Flex Board is expected to include current CEO Revathi Advaithi, along with Michael Hartung, John D. Harris II, Erin L. McSweeney, Lay Koon Tan, Patrick J. Ward, and Brian Yoor. The Axiom Board is expected to include William D. Watkins, Revathi Advaithi, Michael E. Hurlston, Charles K. Stevens III, Maryrose Sylvester, Mark Eubanks, and David Johnson.
