Uber has a new, independent board member, registers a new SEC filing: CEO Revathi Advaithi of 51 -year-old Flex, which is among the world’s largest electronic both manufacturers and competes against Taiwan’s Foxconn Technology.
Advaithi, a mechanical technologist who grew up in India with four sisters, was appointed to the top racket in February of last year after spending roughly 10 years with the electronic manufacturing firm Eaton, where she was COO and administered its world-wide electrical business.
Before that, she spent six years as a VP at Honeywell.
Advaithi came to the job at a tough time. Specifically, Flex formerly counted among its biggest purchasers the Chinese companionship Huawei, for which it supplied contract servicing of products like smartphones and 5G base stations. But the U.S. government last year restricted U.S. firms — and non-U.S. firms with more than 25% American components in their concoctions — from doing business with Huawei after it was regarded a national protection risk.
Indeed, Flex, which today experiences a market cap of$ 5 billion, understood the market share trading in the high teens in 2018, but they’d dropped to around $10 a share before Advaithi was brought aboard, and they have largely stay right there since.
The coronavirus has also put pressure on Flex’s supply series, even while the company has been diversifying its plants.( It mentioned to analysts the beginning of this year that it doesn’t have a factory in China’s Hubei province, which, at the time, was the epicenter of the virus .)
Advaithi is currently Uber’s third female director. In February, it announced that Mandy Ginsberg had been appointed to the board. GInsberg was CEO of the dating app fellowship Match Group until January of this year, supposedly stepping down from the persona after a tornado affect her home in Dallas and she separately underwent surgery.( Publicly sold Match Group was already expected at the time to be spun away from its majority shareholder, IAC, a maneuver that was completed yesterday .)
In 2017, Uber also appointed then Nestle executive Wan Ling Martello to its card. Martello left Nestle in 2018.
Entrepreneur Arianna Huffington was the first woman brought into Uber’s boardroom back in 2016 by then CEO Travis Kalanick. She left her seat last year, citing the growth of her media company, Thrive Global, as the reason for her departure.
Advaithi began her career in the U.S. decades ago as a shop floor supervisor in Shawnee, Oklahoma. She took over as Flex CEO last year when its longtime chief, Michael McNamara, resigned to join the risk capital firm Eclipse.
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