Uber has a brand new, impartial board member, exhibits a brand new SEC filing: CEO Revathi Advaithi of 51-year-old Flex, which is among the many world’s largest digital producers and competes towards Taiwan’s Foxconn Expertise.
Advaithi, a mechanical engineer who grew up in India with 4 sisters, was appointed to the highest job in February of final yr after spending roughly 10 years with the digital manufacturing firm Eaton, the place she was COO and oversaw its international electrical enterprise.
Earlier than that, she spent six years as a VP at Honeywell.
Advaithi got here to the job at a tricky time. Particularly, Flex as soon as counted amongst its largest clients the Chinese language firm Huawei, for which it offered contract companies for merchandise like smartphones and 5G base stations. However the U.S. authorities final yr banned U.S. companies — and non-U.S. companies with greater than 25% American elements of their merchandise — from doing enterprise with Huawei after it was deemed a nationwide safety danger.
Certainly, Flex, which immediately enjoys a market cap of $5 billion, noticed its shares buying and selling within the excessive teenagers in 2018, however they’d fallen to round $10 a share earlier than Advaithi was introduced aboard, and so they have largely keep there since.
The coronavirus has additionally put strain on Flex’s provide chains, even whereas the corporate has been diversifying its factories. (It famous to analysts earlier this yr that it doesn’t have a manufacturing unit in China’s Hubei province, which, on the time, was the epicenter of the virus.)
Advaithi is at the moment Uber’s third feminine director. In February, it introduced that Mandy Ginsberg had been appointed to the board. GInsberg was CEO of the courting app firm Match Group till January of this yr, reportedly stepping down from the position after a twister hit her dwelling in Dallas and he or she individually underwent surgical procedure. (Publicly traded Match Group was already anticipated on the time to be spun away from its majority shareholder, IAC, a maneuver that was accomplished yesterday.)
In 2017, Uber additionally appointed then Nestlé government Wan Ling Martello to its board. Martello left Nestlé in 2018.
Entrepreneur Arianna Huffington was the primary lady introduced into Uber’s boardroom again in 2016 by then CEO Travis Kalanick. She left her seat final yr, citing the expansion of her media firm, Thrive World, as the rationale for her departure.
Advaithi started her profession within the U.S. a long time in the past as a store ground supervisor in Shawnee, Oklahoma. She took over as Flex CEO final yr when its longtime chief, Michael McNamara, resigned to affix the enterprise capital agency Eclipse.