Flextronics announces management change - Thomas J. Smach promoted to CFO

Flextronics (Nasdaq: FLEX) announced a change in corporate management. Effective immediately, Thomas J. Smach has been promoted to Chief Financial Officer (CFO) of Flextronics. Mr. Smach succeeds Bob Dykes.
 
Mr. Smach has served as Senior Vice President of Finance for Flextronics since the acquisition of the Dii Group in April 2000, after having served as CFO of the publicly traded Dii Group since 1997. Mr. Dykes, a director of the company from 1994 to 1997, and CFO since 1997, has taken a position as CFO and Executive Vice President, Business Operations, at Juniper Networks. He will join Juniper Networks on a full time basis on January 1, 2005, but will continue to advise and assist Flextronics on a variety of projects as required in the first calendar quarter of 2005.

"I cannot begin to tell you how important Bob has been to the development of Flextronics as a leading company in the EMS industry, both as a director and as CFO," said Michael Marks, Chief Executive Officer of Flextronics. He added, "Bob served as my most trusted advisor during the rapid development of the company over the past seven years. At the same time, we have been extremely fortunate to have two world-class CFO's in the company. Tom has assumed more financial responsibilities at Flextronics over the past few years and is more than qualified to serve as the company's CFO."

He added, "Bob was able to secure an increase in responsibility at a highly regarded Silicon Valley company, where he will oversee both finance and operations. While we are obviously sorry to see Bob go, we're delighted that he has the opportunity to increase his responsibilities, and we wish him all the best going forward. I want to personally congratulate both Bob and Tom on their new roles."