- Push-out Score suggests push-out forces
- After 17 years on the job
- Accolades and praise for Mitchell
- Seamus Grady taking over
- Mitchell will remain as Executive Chairman at Fabrinet
- Mitchell said 62 words
(exechange) — Bangkok, Thailand, September 25, 2017 — Tom Mitchell, chief executive of Fabrinet, leaves the position. It is an abrupt change. As announced by Fabrinet in a news release and in a regulatory filing published on Monday, September 25, 2017, David T. (Tom) Mitchell has already left the post as Chief Executive Officer at the provider of optical packaging and precision optical, electro-mechanical, and electronic manufacturing services after 17 years on the job, effective September 22, 2017.
It is the end of an era.
Mitchell’s duties are taken over by Seamus Grady, most recently Chief Operating Officer (COO) of the Mechanical Systems Division at Sanmina Corporation.
The move is a generational change as well. Seamus Grady is about 24 years younger than Tom Mitchell.
The fact that Mitchell’s successor is brought in from outside suggests that the board may seek to stimulate change with fresh ideas and new initiatives.
No reason given
In the announcement, Fabrinet did not explicitly explain the reason for Mitchell’s sudden move, leaving room for speculation.
Mitchell will remain as Executive Chairman at Fabrinet
“To assist with Mr. Grady’s transition, the Board also appointed David T. Mitchell as Executive Chairman of the Board, having served as Chief Executive Officer and a director since the Company’s inception,” Fabrinet said.
On the job as CEO since 2000
Mitchell is the Company’s founder and has served as the Company’s Chief Executive Officer and Chairman of the Board of Directors since the Company’s inception in 2000.
Mitchell also served as the Company’s President from 2000 to January 2011.
In 1979, Mitchell co-founded Seagate Technology, a disk drive manufacturing company.
Mitchell served as the president of Seagate Technology from 1983 to 1991.
From 1992 to 1995, Mitchell served as the chief operating officer of Conner Peripherals, a disk drive manufacturing company.
From 1995 to 1998, Mitchell served as the chief executive officer of JTS Corp., a mobile disk drive manufacturing company.
During his tenure in the data storage industry, Mitchell established manufacturing operations in Singapore, Thailand, Malaysia, the PRC and India.
Mitchell was a member of the board of directors of GigOptix, Inc. from June 2012 through July 2013.
Mitchell earned a bachelor of science degree in economics from Montana State University.
Push-out Score suggests push-out forces
It is not completely certain what forces eventually triggered Tom Mitchell’s sudden move.
The Push-out Score™ determined by exechange suggests that push-out forces may have contributed to the management change.
Read the full story in the exechange report 40.2017 ($).