IMI transitioning to new leadership
Ayala-led Integrated Micro-Electronics Inc. (IMI) is transitioning to a new leadership with long-time CEO Arthur Tan set to step down from his role after over two decades.
IMI in a stock exchange filing said Tan, who has been in the IMI leadership role for the past 22 years, would no longer continue as its CEO after the expiration of his term on April 25.
IMI credited Tan as the driving force behind the company’s transformation from a Philippines-based contract manufacturing company to one of the top 25 Global EMS and top 10 Global Auto EMS players.
Tan has been a member of the board of directors of IMI since 2001 and has been the company’s CEO since April 2002.
IMI’s board of directors in a special meeting yesterday approved the company’s CEO transition plan, with Lou Hughes identified and vetted as a candidate to succeed Tan.
“Hughes, a highly experienced professional with extensive global C-suite experience in sales, engineering, sourcing and operations, will be nominated to succeed Art as CEO of IMI,” the company said.
Hughes assumption of office would take effect on May 1, subject to his appointment by IMI’s board.
IMI said Hughes was previously a senior manager at General Electric, COO of Nasdaq listed EMS company Universal
Electronics, and CEO of Singapore-headquartered contract manufacturer Beyonics.
“IMI’s board of directors is confident that Mr. Hughes will lead IMI with the same level of dedication, innovation, and excellence that is expected by our customers and stakeholders and assures its stakeholders of IMI’s commitment to maintaining operational continuity and delivering value during this transition period,” the company said.
“IMI will continue to uphold the highest standards of corporate governance and transparency throughout this process,” it said.
IMI serves as the manufacturing arm of AC Industrial Technology Holdings Inc., a wholly-owned subsidiary of Ayala Corp.
The company is among the leading global technology and manufacturing solutions expert in the world, specializing in highly reliable and quality electronics for long product life cycle segments such as automotive, industrial electronics and more recently, the aerospace market.
It provides engineering, manufacturing, and support and fulfillment capabilities to diverse industries globally from its 20 manufacturing plants across 10 countries.