Flex Ltd. filed a current report on September 15, 2026, disclosing the appointment of two new independent directors to its Board and providing an update on its planned separation of its cloud and power infrastructure business into a new publicly traded company.

Key Highlights

  • Two new directors appointed: George R. Oliver and Mark Eubanks were each appointed to the Flex Ltd. Board of Directors, effective September 24, 2026, as independent directors.
  • Director compensation: Each new director is entitled to annual cash compensation of $90,000, payable quarterly in arrears, plus an annual restricted stock unit award with an aggregate fair market value of $235,000.
  • Planned spin-off update: Flex disclosed plans to separate its cloud and power infrastructure business into a new independent publicly traded company named Axiom Solutions International, Inc.
  • New CFO joining: Amy B. Schwetz will join Flex as Chief Financial Officer of its Regulated Manufacturing Services and Integrated Technology Services segments on October 5, 2026, and is expected to serve as CFO of Flex following the spin-off.
  • No related-party ties: The filing states there are no financial, organizational, or familial affiliations between either Mr. Oliver or Mr. Eubanks and the company.

Board Changes and Spin-Off Details at Flex Ltd.

According to the filing, the Board of Directors of Flex Ltd. (NASDAQ:FLEX), a Singapore-incorporated company with principal offices in Austin, Texas, voted on September 11, 2026, to appoint George R. Oliver and Mark Eubanks as independent directors, with their service commencing September 24, 2026. The filing states that neither appointment arose from any arrangement or understanding with any other person, and that no reportable related-party transactions exist under Item 404(a) of Regulation S-K for either individual.

Under the company's non-management directors' compensation program, the filing discloses that each new director will receive annual cash compensation of $90,000 payable quarterly in arrears, a pro-rated share of the annual restricted stock unit award granted after the last annual general meeting, and an annual restricted stock unit award following each annual general meeting of shareholders with an aggregate fair market value of $235,000. The filing notes that this compensation description is qualified by reference to the definitive proxy statement for the company's 2026 Annual General Meeting, which was filed with the SEC on June 24, 2026.

Separately, the filing discloses that Flex provided an update on its planned spin-off of its cloud and power infrastructure business into Axiom Solutions International, Inc., a new independent publicly traded entity. The company also announced the expected board compositions for both Flex and Axiom following completion of the spin-off. The filing notes that a registration statement has been filed with the SEC by Axiom in connection with the proposed separation. The filing includes cautionary language indicating that the forward-looking statements regarding the spin-off are the company's own and subject to risks and uncertainties, including conditions to completion that may not be satisfied.

What Was Disclosed

The filing covered the appointment of two independent directors effective September 24, 2026, their compensation terms under Flex's non-management director program, a new CFO hire effective October 5, 2026, and an update on the planned spin-off of the cloud and power infrastructure business into Axiom Solutions International, Inc.