Uber has a brand new, unbiased board member, reveals a brand new SEC filing: CEO Revathi Advaithi of 51-year-old Flex, which is among the many world’s largest digital producers and competes in opposition to Taiwan’s Foxconn Know-how.
Advaithi, a mechanical engineer who grew up in India with 4 sisters, was appointed to the highest job in February of final yr after spending roughly 10 years with the digital manufacturing firm Eaton, the place she was COO and oversaw its world electrical enterprise. Earlier than that, Advaithi spent six years as a VP at Honeywell.
She got here to the job at a troublesome time. Particularly, Flex as soon as counted amongst its largest prospects the Chinese language firm Huawei, for which it supplied contract providers for merchandise like smartphones and 5G base stations. However the U.S. authorities final yr banned U.S. corporations, or non-U.S. corporations with greater than 25% American parts of their merchandise, from doing enterprise with Huawei after it was deemed a nationwide safety danger. Certainly, the corporate, which at present enjoys a market cap of $5 billion, noticed its shares buying and selling within the excessive teenagers in 2018 however they’d fallen to round $10 a share earlier than Advaithi and so they have largely keep there since.
Advaithi is presently Uber’s third feminine director. In February, it introduced that Mandy Ginsberg had been appointed to the board. GInsberg was CEO of the courting app firm Match Group till January of this yr, reportedly stepping down from the function after a twister hit her house in Dallas and she or he underwent surgical procedure. (Publicly traded Match Group was already anticipated on the time to be spun away from its majority shareholder, IAC, a maneuver that was completed yesterday.)
In 2017, it additionally appointed then Nestlé government Wan Ling Martello to its board. She left Nestlé in 2018.
Advaithi took over as Flex CEO when its longtime chief, Michael McNamara, resigned to hitch the enterprise capital agency Eclipse.