Susan Wang Dedicated to Business Development Activities, Will Transition CFO
Responsibilities to Patel
MILPITAS, Calif., Aug. 27 /PRNewswire/ -- Solectron Corporation
(NYSE: SLR), the world's leading provider of electronics manufacturing and
supply-chain management services, announced today that Kiran Patel has joined
the company as a senior vice president and officer. Effective Sept. 1, Patel
will become Solectron's chief financial officer and assume responsibility for
Solectron's legal department.
(Photo: http://www.newscom.com/cgi-bin/prnh/20001201/SLRLOGO )
Susan Wang, senior vice president and current chief financial officer,
will transition her financial and legal duties to Patel and will focus her
full-time attention on the company's increasing new business development
activities, which include negotiating customer outsourcing agreements, mergers
and acquisitions. Wang, an officer of the company and corporate secretary,
will take on a new role as senior vice president, business development, and
will report directly to the chief executive officer. Wang currently leads
both the global finance and business development functions, as well as the
company's legal department.
"This is another step in meeting our ongoing objective to further deepen
our leadership team as the needs and scope of our business continue to grow,"
said Ko Nishimura, Solectron chairman, president and chief executive officer.
"Susan has done an absolutely tremendous job of building a strong finance
organization and of helping develop and execute our business strategy. She
will continue her vital role in the company by dedicating her energies to
Solectron's increasing business development initiatives, which are key
elements of our growth strategy.
"Kiran's strong leadership record gives us the confidence to make these
changes. In addition to being an experienced chief financial officer of a
global company, he has expertise in logistics, strategic planning,
international operations and electrical engineering, and he has worked
extensively with the financial community," Nishimura said. "He has the
skills, experience and perspective required to help ensure Solectron's
continued success, and he will be an excellent addition to our senior team."
Patel joins Solectron after an extensive career with Cummins Inc., a
worldwide designer and manufacturer of diesel and natural gas engines, engine
components and subsystems. In 27 years with that company, Patel held
leadership positions in finance and operations. He also led a number of
business operating units, including the company's Brazil subsidiary, and its
Atlas Inc. and Fleetguard Inc. units. Most recently, Patel was
executive vice president and chief financial officer from 1996 through 2000.
He left Cummins last fall to become chief financial officer of iMotors, Inc.,
a privately held online seller of pre-owned automobiles. Patel, a
certified public accountant, earned a bachelor's degree in electrical
engineering and a master's degree in business administration from the
University of Tennessee.
Wang joined Solectron in 1984 as manager of finance, after serving as
manager of financial services for Xerox Corporation. In 1986, she was
promoted to vice president of finance and chief financial officer, and she was
instrumental in taking Solectron public in 1989. In 1990, Wang became
senior vice president and she has served as corporate secretary since 1992.
Among Wang's many major accomplishments at Solectron, she took a leadership
role in developing the electronic manufacturing services industry's first
asset divestiture model in 1992 -- an approach that has helped drive
Solectron's significant growth over the last decade.
About Solectron
Solectron (http://www.solectron.com), the world's leading supply-chain
facilitator, provides a full range of manufacturing and supply-chain
management services to the world's premier high-tech electronics companies.
Solectron's offerings include new-product design and introduction services,
materials management, high-tech product manufacturing, and product warranty
and end-of-life support. Solectron, based in Milpitas, Calif., is the first
two-time winner of the Malcolm Baldrige National Quality Award for
manufacturing.
CONTACT: analysts, Thomas Alsborg, +1-408-956-6614, or
thomasalsborg@ca.slr.com, or press, Robert (Bob) Kula, +1-408-935-5405, or
robertkula@ca.slr.com, both of Solectron Corporation.
SOURCE Solectron Corporation
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Related links: http://www.solectron.com
Photo Notes: NewsCom: http://www.newscom.com/cgi-bin/prnh/20001201/SLRLOGO AP Archive: http://photoarchive.ap.org PRN Photo Desk, +1-888-776-6555 or +1-212-782-2840
CONTACT: analysts, Thomas Alsborg, +1-408-956-6614, or thomasalsborg@ca.slr.com, or press, Robert (Bob) Kula, +1-408-935-5405, or robertkula@ca.slr.com, both of Solectron Corporation
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