- Push-out Score suggests push-out forces
- After 14 years in the position
- Accolades, praise, words of regret and good wishes for Alexander
- Mike Dastoor taking over
- Alexander said 49 words
(exechange) — St Petersburg, Florida, April 25, 2018 — Forbes Alexander, finance chief of Jabil, leaves. His departure is made public at an early stage. As announced by Jabil Inc. in a news release published on Tuesday, April 24, 2018 and in a regulatory filing published on Wednesday, April 25, 2018, Forbes I.J. Alexander leaves his post as Chief Financial Officer at the electronics services provider after 14 years in the position, effective August 31, 2018.
It is the end of an era.
Among the 3,000 largest publicly held companies incorporated in the U.S. based on market capitalization, the average tenure of the CFOs who departed over the past 12 months was 6.4 years, according to data compiled by exechange. Only 23 percent of the CFOs who departed over the past 12 months left the position after more than 10 years.
Alexander’s duties will be taken over by Michael K. (Mike) Dastoor, currently Senior Vice President, Controller of Jabil Inc.
“Culmination of a thorough succession plan”
Alexander’s departure from the CFO post is explained as follows. Jabil Chief Executive Officer Mark Mondello said: “Today’s announcement is the culmination of a thorough succession plan aimed at identifying our emerging leaders.”
Precise information about Alexander’s future plans was not immediately available.
Jabil said: “Chief Financial Officer Forbes I.J. Alexander has elected to retire from his role effective August 31, 2018, following a distinguished 25-year career with the Company.”
Jabil further said: “Mr. Alexander advised the Board of Directors of his retirement on April 19, 2018.”
Chaired by Tim L. Main
Jabil Inc. is chaired by Tim L. Main.
Tim Main was appointed chairman of the board of directors in January 2013.
CEO: Mark T. Mondello
Mark T. Mondello serves as CEO of Jabil Inc. Mark Mondello was appointed as Jabil’s CEO in January 2013. He joined Jabil in 1992 as a manufacturing supervisor.
In the position of CFO since 2004
Forbes I. J. Alexander was named CFO in September 2004.
Previously, he served as treasurer, starting in November 1996.
Alexander joined Jabil in 1993 as controller of Scotland operations and was promoted to assistant treasurer in April 1996.
Prior to joining Jabil, Alexander was financial controller of Tandy Electronics European manufacturing operations in Scotland and has held various financial positions with Hewlett Packard and Apollo Computer.
Alexander is a Chartered Management Accountant.
He holds a BA in accounting from the University of Abertay, Dundee, Scotland.
Push-out Score suggests push-out forces
It is not completely certain what forces eventually triggered Forbes Alexander’s move.
The Push-out Score™ determined by exechange suggests that push-out forces may have contributed to the change.
Read the full story in the exechange report 18.2018 ($).