SAN JOSE, CA -- Sanmina chief executive Hartmut Liebel is leaving the company, effective immediately, after just a year on the job, the EMS company said today. Executive chairman and cofounder Jure Sola will take over as chief executive, the firm added.

Sanmina will also launch a corporate restructuring and is revising its guidance for the current quarter.

Sanmina did not indicate whether Liebel resigned or was fired.

 Liebel joined the company in July 2019 as president and chief operating officer after top executive positions at iQor and Jabil. He was named CEO in September, replacing Michael Clarke, who also was in the role for just a year. He in turn replaced Bob Eulau, who was pushed out after 10 months on the job. 

"On behalf of the independent members of the Board of Directors, I am pleased to have Jure reassume the Chairman and CEO role," said Jackie Ward, lead independent director, Sanmina. "With the ongoing pandemic and uncertainty in the macroeconomic environment, we are confident that Jure's four decades of experience will be instrumental in the company's ongoing success. We thank Hartmut for his leadership and support during his time at Sanmina and wish him well in his future endeavors."

"I have tremendous pride in this company and passion for making Sanmina even stronger in the midst of these unprecedented times," Sola said. "We have a well-established and experienced leadership team and a solid foundation to drive long-term sustainable growth. Our ability to unlock untapped potential as we execute on our strategy coupled with our strong balance sheet will propel this exciting and innovative company into the next phase of its evolution, while providing long-term value to our shareholders, employee and customers."

Sanmina said it will reorganize into three segments – Integrated Manufacturing Solutions (IMS), SCI (defense products and system builds) and Components Technology (advanced interconnect technology and mechanical systems). The new structure will "help unlock the total value of Sanmina and provide greater accountability of the organization," the company said in a press release.

Sanmina also said it would update its fiscal fourth quarter guidance. Further details will be provided on its fourth quarter earnings call.

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