Jabil EVP Borges to retire Dec 31, 2023; garden leave until Dec 2024; $1.1M severance

JABIL INC

Steven Borges, EVP & CEO of Diversified Manufacturing Services, retires effective Dec 31, 2023, separating Dec 31, 2024.
Severance of $1,100,000 payable in four quarterly installments beginning after the Separation Date.
He will receive FY2024 STI bonus at greater of target or actual performance, paid in normal course.
Jabil subsidizes COBRA medical coverage for 18 months and provides outplacement services.
Two-year non-compete, non-solicitation, and non-disparagement obligations apply post-separation.

item 5.02 item 9.01

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Departed

Steven Borges

Executive Vice President and CEO, Diversified Manufacturing Services

JBL · JABIL INC

Effective: 2023-12-31
Filed: August 25, 2023, 7:59 PM ET

In connection with the retirement of Mr. Steven Borges, Executive Vice President and CEO, Diversified Manufacturing Services, effective December 31, 2023, Mr. Borges entered into a Mutual Separation Agreement and Release dated August 21, 2023 (the “Agreement”).

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Executive change SEC 8-K Item 5.02 confidence 1.0

Steven Borges retired as Executive Vice President and CEO, Diversified Manufacturing Services at JABIL INC.

Action: retired
Role: Executive Vice President and CEO, Diversified Manufacturing Services

Exact text from the filing

In connection with the retirement of Mr. Steven Borges, Executive Vice President and CEO, Diversified Manufacturing Services, effective December 31, 2023, Mr. Borges entered into a Mutual Separation Agreement and Release dated August 21, 2023 (the “Agreement”).

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Source: SEC EDGAR

accession 0001193125-23-221471

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