BUZZ-Jabil places CEO on paid leave pending investigation, shares down

Reuters04-19

** Jabil Inc's shares down 3.5% at $125.01 on thin premarket volume after electronics contract manufacturer places CEO Kenneth Wilson on paid leave pending completion of investigation into corporate policies

** In SEC filing late Thurs, Jabil did not specify what prompted the investigation, but said the conduct under review does not relate to or impact its financial statements or reporting

** Co appointed CFO Michael Dastoor as interim CEO

** Wilson, who was named CEO about a year ago, joined Jabil in 2020 and has held various leadership roles, Before taking the reins, he was chief of co's Green Point division

** Last week, Wilson was nominated to the board of Xerox

, which is to be voted on at the office equipment maker's annual shareholder meeting slated for May 22

** JBL has risen ~60% over the past 12 months through Thurs. Stock off ~17% from intraday record high of $156.94 hit on Mar 8

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@thomsonreuters.com lance.tupper@tr.com 1-646-279-6380))

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