Jabil announced a significant leadership transition on October 16, stating that Executive Chairman Mark T. Mondello and two other directors will not seek re-election to the board. The departures are scheduled for the company's annual stockholder meeting in January 2026.
The move signals the end of an era for the global manufacturing giant, which recently reported strong quarterly results and annual revenue exceeding US$29.8 billion, beating Wall Street expectations.
Leadership transition
Mondello's departure will cap a 33-year career with Jabil, where he served a decade as CEO from 2013 to 2023 and 12 years on the board. He is credited with guiding the company's diversification strategy, expanding its global footprint, and cementing its role in advanced manufacturing.
Also stepping down from the board are Kathleen A. Walters and Jamie Siminoff.
Walters previously served as an independent director from 2005 to 2011 and rejoined in 2019. She formerly held senior positions at Georgia-Pacific Corp., retiring in 2019 as executive vice president and group president of the consumer products group.
Siminoff, the founder of Ring, joined Jabil's board in 2024. His decision to leave follows his return to a full-time role at Amazon as vice president of product at Ring, the smart-home company acquired by Amazon in 2018.
All three directors will continue their service until the January 2026 meeting.
Steve Raymund, Jabil's lead director, is expected to become chairman after Mondello steps down.
"I am honored to be considered for this role," Raymund said. "On behalf of the entire board, I want to express our deep appreciation to Mark, Kathy, and Jamie for their service and dedication to Jabil."
Strong financials amid transition
The leadership changes come as Jabil continues to post solid financial results. For its fiscal fourth quarter of 2025, the company reported earnings per share of US$3.29, easily beating analysts' forecasts of US$2.90. Revenue for the quarter was US$8.3 billion, also ahead of the estimated US$7.55 billion.
Wall Street analysts are mixed on the stock's future. UBS has maintained a Neutral rating with a US$230 price target, while Stifel reiterated a Buy rating and set a target of US$245, pointing to Jabil's growing strength in AI infrastructure.
Focus on innovation and partnerships
Jabil is also pushing forward with investments in next-generation technology. At the recent OCP Global Summit, the company showcased an AMD EPYC "Turin"-based server platform that includes cybersecurity features developed with Axiado Corporation. The partnership focuses on creating AI-driven security for enterprise and data center systems, aligning with Jabil's broader strategy of combining engineering, manufacturing, and digital innovation.
With over 100 facilities worldwide, Jabil serves a wide range of industries, including electronics, healthcare, renewable energy, and automotive systems.
Article edited by Jack Wu
