Sanmina CFO Departs; New Directors Appointed
Ticker: SANM · Form: 8-K · Filed: May 30, 2024 · CIK: 897723
| Field | Detail |
|---|---|
| Company | Sanmina Corp (SANM) |
| Form Type | 8-K |
| Filed Date | May 30, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: executive-departure, board-changes, management-change
TL;DR
CFO out, interim CFO in, two new board members join Sanmina.
AI Summary
Sanmina Corporation announced on May 28, 2024, the departure of its Chief Financial Officer, David Anderson, effective June 14, 2024. The company has appointed Paul K. Smith as interim CFO. Additionally, Sanmina announced the election of two new directors, David L. Johnson and Robert L. Jr. W. L. Jr. to its Board of Directors, effective May 28, 2024.
Why It Matters
The departure of a CFO can signal changes in financial strategy or performance, while new board members may bring fresh perspectives and influence future company direction.
Risk Assessment
Risk Level: medium — Changes in key executive positions and board composition can introduce uncertainty regarding future strategy and financial management.
Key Players & Entities
- Sanmina Corporation (company) — Registrant
- David Anderson (person) — Departing Chief Financial Officer
- June 14, 2024 (date) — Effective date of CFO departure
- Paul K. Smith (person) — Interim Chief Financial Officer
- David L. Johnson (person) — Newly elected Director
- Robert L. Jr. W. L. Jr. (person) — Newly elected Director
- May 28, 2024 (date) — Effective date of director election
FAQ
Who is replacing David Anderson as CFO?
Paul K. Smith has been appointed as the interim Chief Financial Officer.
When is David Anderson's departure effective?
David Anderson's departure is effective June 14, 2024.
Who are the new members of Sanmina's Board of Directors?
David L. Johnson and Robert L. Jr. W. L. Jr. have been elected to the Board of Directors.
When were the new directors elected?
The new directors were elected effective May 28, 2024.
What is Sanmina Corporation's state of incorporation?
Sanmina Corporation is incorporated in Delaware.
Filing Stats: 493 words · 2 min read · ~2 pages · Grade level 13.1 · Accepted 2024-05-30 16:05:37
Filing Documents
- tm2415783d2_8k.htm (8-K) — 23KB
- 0001104659-24-066633.txt ( ) — 190KB
- sanm-20240528.xsd (EX-101.SCH) — 3KB
- sanm-20240528_lab.xml (EX-101.LAB) — 33KB
- sanm-20240528_pre.xml (EX-101.PRE) — 22KB
- tm2415783d2_8k_htm.xml (XML) — 3KB
From the Filing
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 May 28, 2024 Date of Report (Date of earliest event reported) SANMINA CORPORATION (Exact name of registrant as specified in its charter) Delaware 000-21272 77-0228183 (State or other jurisdiction of incorporation) (Commission File Number) (I.R.S. Employer Identification No.) 2700 North First Street San Jose , California 95134 (Address of principal executive offices) ( 408 ) 964-3500 (Registrant's telephone number, including area code) 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. Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock SANM NASDAQ Global Select Market ITEM 5.02DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS On May 28, 2024, Brent Billinger, Senior Vice President and Controller of Sanmina Corporation (the "Company") notified the Company of his plan to retire, effective January 3, 2025. Mr. Billinger's planned retirement is not due to any disagreement with the Company on any matters. The Company plans to appoint Vishnu Gangaswamy Venkatesh, currently Senior Vice President, Finance Transformation, as Senior Vice President, Global Controller and Chief Accounting Officer of the Company, effective upon Mr. Billinger's retirement. Prior to joining the Company, Mr. Venkatesh, 45, was Assistant Controller of HP Inc., a global technology company, from November 2021 through March 2024. He previously held various senior leadership positions at HP, managing external financial reporting, technical accounting and other controllership responsibilities, from May 2017 through October 2021. Prior to joining HP, Mr. Venkatesh held positions with PwC and Hewlett Packard Enterprise. 2 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report on Form 8-K to be signed on its behalf by the undersigned hereunto duly authorized. SANMINA CORPORATION By: /s/ Jonathan Faust Jonathan Faust Executive Vice President and Chief Financial Officer Date: May 30, 2024 3