Flex Announces Revathi Advaithi as CEO

Electrical industry leader and former Eaton executive joins $25
billion global manufacturer

SAN JOSE, Calif.–(BUSINESS WIRE)–Flex (NASDAQ: FLEX), the Sketch-to-Scale® solutions provider that
designs and builds intelligent products globally, today announced
that Revathi Advaithi, 51, has been named Chief Executive Officer and
appointed to the Board of Directors at Flex.


This is a time of tremendous opportunity in manufacturing, as trends
such as regionalization, artificial intelligence, 5G and advanced
manufacturing all combine to improve the way we live and work,” said Ms.
Advaithi. “With locations in 30 countries and expertise in a dozen
industry verticals, Flex has the necessary breadth and depth to help
companies develop and launch innovative products at global scale and
intelligently manage a shifting business landscape. I look forward to
building upon Flex’s 50-year history and strength in manufacturing.”

The Board conducted an extensive and thorough search, considering both
internal and external candidates,” said Michael Capellas, chairman of
the Board of Directors for Flex. “Revathi’s depth and breadth
of capabilities from engineering to manufacturing to advanced supply
chain management coupled with her exceptional leadership and proven
track record make her the ideal choice to lead Flex. We are confident
that she will lead Flex to realize its full potential.”

Prior to Flex, Ms. Advaithi was president and chief operating officer
for the Electrical Sector business for Eaton, a power management company
with over $20 billion in sales, 102,000 employees and a market
capitalization in excess of $33 billion. She also had corporate
responsibility for the Europe, Middle East and Africa region. Ms.
Advaithi managed the largest of Eaton’s businesses, consistently
delivering high margins, while reducing earnings volatility. She secured
more than $13 billion in sales in 2018, with an array of electrical
solutions built on the strengths of full-scale engineering and support
services.

Ms. Advaithi began her career as a mechanical engineer in her native
India, then moved to the US where she started her Eaton career on the
factory floor as a plant supervisor in Shawnee, Oklahoma. Over the
years, she expanded her engineering role to international markets,
adding operational management and supply chain expertise. Ms. Advaithi
brings to Flex her deep and highly relevant experience across
engineering, operations, supply chain, material procurement,
distribution, logistics and international management.

Ms. Advaithi has a bachelor’s degree in mechanical engineering from the
Birla Institute of Technology and Science in Pilani, India and an MBA in
International Business from the Thunderbird School of Global Management
in Glendale, Arizona. She currently serves as a non-executive director
on the BAE Systems board. She also serves on both the executive
committee and board of governors of the National Electrical
Manufacturers Association, and on the board of the Women’s Center &
Shelter of Greater Pittsburgh. She is a strong advocate for STEM
education for girls, women’s issues and diversity in the workplace.

About Flex Ltd.

Flex is the Sketch-to-Scale® solutions provider that designs
and builds intelligent products globally. With approximately 200,000
professionals across 30 countries, Flex provides innovative design,
engineering, manufacturing, real-time supply chain insight and logistics
services to companies of all sizes across industries and markets. For
more information, visit flex.com
or follow us on Twitter @Flexintl. Flex – Live Smarter

Forward-Looking Statements

This press release contains forward-looking statements within the
meaning of U.S. securities laws. The words “expects,” “anticipates,”
“believes,” “intends,” “plans” and similar expressions identify
forward-looking statements. In addition, any statements which refer to
expectations, projections or other characterizations of future events or
circumstances are forward-looking statements. These forward-looking
statements involve risks and uncertainties that could cause the actual
results to differ materially from those anticipated by these
forward-looking statements. These risks include the risks inherent in
any CEO succession, including the time required to fully integrate Ms.
Advaithi into the company’s operations, and the risks and uncertainties
described under “Risk Factors” and “Management’s Discussion and Analysis
of Financial Condition and Results of Operations” in our reports on
Forms 10-K and 10-Q that we file with the U.S. Securities and Exchange
Commission. The forward-looking statements in this press release are
based on current expectations and Flex assumes no obligation to update
these forward-looking statements. Readers are cautioned not to place
undue reliance on these forward-looking statements.

Contacts

Investors & Analysts
Kevin Kessel, CFA
408-576-7985
[email protected]

Media & Press
Brian Kemp
(408) 577-2336
[email protected]

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