Form 8-K

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of

The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) April 19, 2018

 

 

Jabil Inc.

(Exact name of registrant as specified in its charter)

 

 

 

Delaware    001-14063    38-1886260

(State or other jurisdiction

of incorporation)

   (Commission File Number)   

(IRS Employer

Identification No.)

10560 Dr. Martin Luther King, Jr. Street North, St. Petersburg, Florida 33716

(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code (727) 577-9749

(Former name or former address, if changed since last report.)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company    ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.    ☐

 

 

 


Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On April 24, 2018, Jabil Inc. (the “Company”) announced that Mr. Forbes I. J. Alexander has elected to retire from his position as Chief Financial Officer effective August 31, 2018. Mr. Alexander advised the Board of Directors of his retirement on April 19, 2018. On April 24, 2018, the Company also announced that Mr. Michael K. Dastoor has been appointed to the position of Chief Financial Officer effective September 1, 2018.

Mr. Dastoor, 52, has been Controller of the Company since June 2004 and Senior Vice President since July 2010. Prior to joining Jabil in 2000 as regional controller, Asia Pacific, Mr. Dastoor was a regional financial controller for Inchcape PLC. He holds a degree in finance and accounting from the University of Bombay and is a Chartered Accountant from the Institute of Chartered Accountants in England and Wales.

There is no arrangement between Mr. Dastoor and any other persons pursuant to which he was selected for this role. Mr. Dastoor has no family relationship with any director or executive officer of the Company and is not a party to any transaction with a related person requiring disclosure under Item 4.04(a) of Regulation S-K.

A copy of the press release announcing Mr. Alexander’s retirement and Mr. Dastoor’s appointment is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.

 

Item 9.01 Financial Statements and Exhibits.

(d)    Exhibits

The following exhibit is furnished herewith:

 

Exhibit No.

 

Description

99.1   Press Release dated April 24, 2018.


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

    JABIL INC.
April 25, 2018   By:   /s/ Susan Wagner-Fleming
       

Susan Wagner-Fleming

       

Vice President, Deputy General Counsel and

Corporate Secretary

 

EX-99.1

Exhibit 99.1

 

LOGO

CHIEF FINANCIAL OFFICER FORBES ALEXANDER TO RETIRE

Michael Dastoor Set to Succeed as Chief Financial Officer

St Petersburg, FL April 24, 2018 – Today Jabil Inc. (NYSE:JBL), announced that 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. Further, as part of its succession planning process, the Company announced that Michael K. Dastoor, Senior Vice President, Controller will succeed Forbes as Chief Financial Officer, effective September 1, 2018.

“It’s difficult for me to express all the positive feelings and sincere gratitude I have for Forbes. He leaves a wonderful legacy of financial stewardship, stellar leadership and endless contributions,” said Jabil Chief Executive Officer Mark Mondello. “His impact over the years has been simply outstanding and he will be missed,” added Mondello.

Michael Dastoor

Michael joined Jabil in 2000 as Regional Controller, Asia Pacific and was promoted to Controller in 2004. Since that time he has played a key role and today his responsibilities include operational finance, tax, and financial planning and analysis.

Succession Plan

“Today’s announcement is the culmination of a thorough succession plan aimed at identifying our emerging leaders. And, while we wish Forbes well in his retirement, we’re also eager to welcome Mike into his new role. His deep understanding of our business and proven track record should ensure a seamless transition for our stakeholders, customers and employees,” added Mondello.

Forbes Alexander

Forbes was named Chief Financial Officer in September 2004, and during his tenure the company added roughly $15 billion in revenue, while expanding its global footprint from 10 million square feet to 40+ million square feet across 30 countries.

“My time at Jabil has been truly rewarding. The phenomenal growth over the last two decades has afforded me so many opportunities to work with talented and passionate people on the global Jabil team,” Alexander said. “I am confident that Mike will thrive in leading Jabil’s next decade of profitable growth,” he concluded.

About Jabil: Jabil (NYSE: JBL) is a product solutions company providing comprehensive design, manufacturing, supply chain and product management services. Operating from over 100 facilities in 29 countries, Jabil delivers innovative, integrated and tailored solutions to customers across a broad range of industries. For more information, visit jabil.com.

Company Contacts:

Beth Walters

Senior Vice President, Investor Relations & Communications

(727) 803-3511

beth_walters@jabil.com

Adam Berry

Senior Director, Investor Relations

(727) 803-5772

adam_berry@jabil.com