IMI taps Lou Hughes for CEO role
THE BOARD of Ayala-led Integrated Micro-Electronics, Inc. (IMI) has nominated Lou Hughes as the company’s new chief executive officer (CEO).
Mr. Hughes, a professional with extensive global C-suite experience in sales, engineering, sourcing, and operations, is slated to succeed Arthur R. Tan as CEO of IMI, the listed company said in a filing.
IMI noted that Mr. Hughes previously held senior roles at General Electric, served as chief operating officer of Nasdaq-listed electronics manufacturing services company Universal Electronics, and was CEO of Singapore-based contract manufacturer Beyonics.
His appointment as CEO, subject to approval by the IMI board, is expected to be effective on May 1.
The IMI board approved the company’s CEO transition plan during a meeting on Feb. 13 and identified and vetted Mr. Hughes as a candidate for the position.
Mr. Tan, who has led IMI for the past 22 years, is set to conclude his term on April 25.
“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 added.
IMI, the manufacturing arm of AC Industrial Technology Holdings, Inc., is a wholly owned subsidiary of Ayala Corp. The company produces electronics for various markets such as automotive, industrial electronics, and aerospace.
On Tuesday, IMI shares ended unchanged at P2.43 apiece. — Revin Mikhael D. Ochave
