Jun 05, 2003
"We are pleased to have John Cunningham as a new director on our board. His distinguished career with IBM, as well as his experience across a variety of industry sectors, gives him a solid background in technology, supply chain efficiencies and manufacturing which should be beneficial to the MSL board. I look forward to his contributions to the board of directors," said Bob Bradshaw, Chairman of the Board and Chief Executive Officer.
Mr. Cunningham qualifies as an "independent director" under the NYSE rules and as an "audit committee financial expert" under the recently issued rules of the Securities Exchange Commission. Mr. Cunningham was most recently Executive Vice President and Chief Financial Officer of Citrix Systems, Inc. a global leader in application software and services. Prior to joining Citrix, Mr. Cunningham served as Executive Vice President and Chief Financial Officer of Wang Global. Previously he served as CFO of Whirlpool Corporation and Maytag Corporation following a 28 year career as an executive of IBM Corporation.
He also serves as a member of the board of directors of SmartDisk Corporation and Baltimore Technologies, a U.K. company.
About MSL:
Manufacturers' Services Limited (MSL) is a global company that provides a portfolio of integrated manufacturing and related supply chain services that facilitate its customers' ability to get products to market faster, reduce their total cost, and achieve superior operational performance. The Company has specific expertise in electronics design and new product introduction, printed circuit board assembly and testing, high speed automated manufacturing, final product assembly including configure-to-order and build-to-order, integration and testing of complex systems, global supply chain management, order fulfillment, repair and end-of-life management. MSL's customers come from a diverse set of industries including industrial equipment, commercial avionics, retail infrastructure, medical products, voice and data communications, networked storage, office equipment, computers and computer peripherals. The Company integrates its services with its customers' operations, leveraging information technology to connect a global network of suppliers, internal operations, and customers. MSL differentiates itself by providing a superior customer experience characterized by significant mind share, personalized service, customized and flexible solutions, and rapid response. MSL is headquartered in Concord, Massachusetts. For more information, please visit the Company's website at http://www.msl.com.
Contact:
Dave Holt
(978) 371-5457
david.holt@msl.com
Any statements in this press release about future expectations, plans and prospects for the Company, including the Company's expectations for first quarter operating results and any statements containing the words "believes," "anticipates," "plans," "estimates," "expects," "will," and similar expressions, constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: our dependence upon a relatively small number of customers; risks associated with our acquisitions of other companies or businesses; the incurrence of indebtedness and associated interest expense to fund our business strategy; the availability of critical components, particularly those from sole-source suppliers; the impact of competition within our industry; cancellations of or delays in customer orders; general economic conditions within our industry; the impact of foreign currency fluctuations and other factors specifically affecting our international operations. In addition, the forward-looking statements included in this press release represent the Company's estimates as of April 24, 2003. The Company anticipates that subsequent events and developments will cause the Company's estimates to change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so.
