A logo sign outside of a facility occupied by Jabil Inc., in Ottawa, Ontario, Canada, on April 20, 2019.
Kristoffer Tripplaar | SIPA USA | AP
Jabil CEO Kenneth Wilson will leave immediately, the company said on Monday, following the completion of a previously disclosed investigation related to “corporate policies” and will be succeeded by finance chief Michael Dastoor.
The electronic components maker, whose customers include Apple, also withdrew its fiscal 2025 forecast, citing the surprise CEO transition.
Dastoor, who has worked at Jabil for 24 years, was named interim CEO on April 18 while Wilson was placed on paid leave since April 15 pending completion of the investigation.
Jabil reiterated the investigation does not relate to, and does not impact the company’s financial statements or financial reporting, but did not provide more details.
The company did not immediately respond to a Reuters request seeking further details on the probe and Wilson’s exit.
Wilson, also a Jabil veteran, was named CEO in November 2022 and took charge in May 2023.
In March, the Florida-based company cut its 2024 forecasts on declining demand for electronics as inflation-hit customers cut down on discretionary spending.
Gregory Hebard, most recently treasurer, was named the chief financial officer.
Shares of the company were up 3% in volatile early trade. They have lost about 11% of their value since the company disclosed the investigation.
