Uber has a brand-new, independent board member, shows a new SEC filing: CEO Revathi Advaithi of 51- year-old Flex, which is among the world’s largest electronic makers and competes versus Taiwan’s Foxconn Technology.
Advaithi, a mechanical engineer who matured in India with four siblings, was selected to the leading task in February of last year after investing roughly 10 years with the electronic production company Eaton, where she was COO and supervise its global electrical company.
Before that, she invested six years as a VP at Honeywell.
Advaithi concerned the job at a difficult time. Particularly, Flex when counted among its most significant clients the Chinese business Huawei, for which it offered agreement services for items like smartphones and 5G base stations. However the U.S. federal government in 2015 banned U.S. firms– and non-U.S. firms with more than 25%American parts in their products– from working with Huawei after it was considered a national security threat.
Indeed, Flex, which today delights in a market cap of $5 billion, saw its shares trading in the high teenagers in 2018, however they ‘d been up to around $10 a share before Advaithi was brought aboard, and they have largely stay there since.
The coronavirus has actually also put pressure on Flex’s supply chains, even while the business has been diversifying its factories. (It noted to analysts previously this year that it doesn’t have a factory in China’s Hubei province, which, at the time, was the center of the infection.)
Advaithi is currently Uber’s 3rd female director. In February, it revealed that Mandy Ginsberg had actually been appointed to the board GInsberg was CEO of the dating app business Match Group until January of this year, apparently stepping down from the role after a tornado hit her house in Dallas and she separately underwent surgical treatment. (Openly traded Match Group was currently anticipated at the time to be spun away from its majority investor, IAC, a maneuver that was completed yesterday)
In 2017, under the management of then-CEO Travis Kalanick, Uber also selected then Nestlé executive Wan Ling Martello to its board (Martello left Nestlé in 2018), and he selected former chairman and CEO of Xerox, Ursula Burns.
Entrepreneur Arianna Huffington was the very first lady brought into Uber’s conference room back in 2016 by Kalanick. She left her seat in 2015, citing the development of her media company, Flourish Global, as the factor for her departure.
Advaithi started her profession in the U.S. decades back as a shop floor supervisor in Shawnee, Oklahoma. She took over as Flex CEO last year when its longtime chief, Michael McNamara, resigned to sign up with the equity capital firm Eclipse.