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Last updated on April 18, 2014 at 7:49 EDT

Celestica Announces Appointment of New Chief Financial Officer

December 5, 2012

(All amounts in U.S. dollars.
Per share information based on diluted
shares outstanding unless noted otherwise).

TORONTO, Dec. 5, 2012 /PRNewswire/ – Celestica Inc. (NYSE, TSX: CLS), a global
leader in the delivery of end-to-end product lifecycle solutions, today
announced that Darren Myers has been appointed Executive Vice President
and Chief Financial Officer. Mr. Myers is succeeding Paul Nicoletti,
who will be leaving the company effective December 28 to pursue other
interests.

Mr. Myers has over ten years of experience with Celestica and has held
numerous financial roles of increasing responsibility. Most recently,
he was Senior Vice President and Corporate Controller with
responsibilities including external reporting, corporate tax, investor
relations and all corporate finance and treasury-related matters. Mr.
Myers’ previous roles include Vice President of Finance for Bell
Canada’s Small and Medium Business Division and various roles at
PricewaterhouseCoopers. Mr. Myers holds a Bachelor of Commerce
(Honours) degree from McMaster University and is a Chartered
Accountant.

“I would like to congratulate Darren on his appointment to Chief
Financial Officer,” said Craig Muhlhauser, President and Chief
Executive Officer, Celestica. “Darren has proven himself to be a key
member of Celestica’s leadership team, with in-depth knowledge of our
company and the EMS industry and expertise in all areas of financial
operations. I am confident that under Darren’s leadership, Celestica
will maintain the high level of financial discipline that has earned
the company the respect of the external marketplace.”

“I also want to thank Paul Nicoletti for the significant contribution
that he has made to Celestica’s success over the course of his career,
including the last six years as our Chief Financial Officer,” said
Muhlhauser. “Under Paul’s leadership, we have built a best-in-class
finance organization and significantly strengthened our balance sheet.
I wish him all the best in his future endeavours.”

Celestica is also reaffirming its fourth quarter financial guidance that
was provided on October 23. The company anticipates revenue to be in
the range of $1.425 billion to $1.525 billion, and adjusted net
earnings per share to be in the range of $0.15 to $0.21.

About Celestica

Celestica is dedicated to delivering end-to-end product lifecycle
solutions to drive our customers’ success. Through our simplified
global operations network and information technology platform, we are
solid partners who deliver informed, flexible solutions that enable our
customers to succeed in the markets they serve. Committed to providing
a truly differentiated customer experience, our agile and adaptive
employees share a proud history of demonstrated expertise and
creativity that provides our customers with the ability to overcome any
challenge.

For further information on Celestica, visit its website at http://www.celestica.com.
The company’s security filings can also be accessed at http://www.sedar.com and http://www.sec.gov.

Safe Harbor and Fair Disclosure Statement

This news release contains forward-looking statements related to our
quarterly earnings and revenue guidance and other statements that are
not historical facts. Such forward-looking statements are predictive in
nature and may be based on current expectations, forecasts or
assumptions involving risks and uncertainties that could cause actual
outcomes and results to differ materially from the forward-looking
statements themselves.  Such forward-looking statements may, without
limitation, be preceded by, followed by, or include words such as
“believes”, “expects”, “anticipates”, “estimates”, “intends”, “plans”,
“continues”, or similar expressions, or may employ such future or
conditional verbs as “may”, “will”, “should” or “would”, or may
otherwise be indicated as forward-looking statements by grammatical
construction, phrasing or context.  For those statements, we claim the
protection of the safe harbor for forward-looking statements contained
in the U.S. Private Securities Litigation Reform Act of 1995, and in
applicable Canadian securities legislation. Forward-looking statements
are not guarantees of future performance. Readers should understand
that the following important factors, among others, could affect our
future results and could cause those results to differ materially from
those expressed in such forward-looking statements: the challenges of
effectively managing the transition activities of our manufacturing
services for Research in Motion (“RIM”); the extent of the
restructuring charges associated with the RIM wind down and other
actions; our dependence on a limited number of customers and on our
customers’ ability to compete and succeed in their marketplace for the
products we manufacture; the effects of price competition and other
business and competitive factors generally affecting the electronics
manufacturing services (EMS) industry; the challenges of effectively
managing our operations and our working capital performance during
uncertain economic conditions, including responding to significant
changes in demand and changes in the outsourcing strategies of our
customers, including the insourcing of programs by them; the challenges
of managing changing commodity costs as well as labor costs and
conditions; disruptions to our operations, or those of our customers,
component suppliers, or our logistics partners, resulting from local
events including natural disasters, political instability, local labor
conditions and social unrest, criminal activity and other risks present
in the jurisdictions in which we operate; our inability to retain or
expand our business due to execution problems relating to the ramping
of new programs; the delays in the delivery and/or general availability
of various components and materials used in our manufacturing process;
the challenge of managing our financial exposure to foreign currency
volatility; our dependence on industries affected by rapid
technological change; variability of operating results among periods;
our ability to successfully manage our international operations;
increasing income taxes and our ability to successfully defend tax
audits or meet the conditions of tax incentives; the completion of all
our restructuring activities or integration of our acquisitions; and
the risk of potential non-performance by counterparties, including but
not limited to financial institutions, customers and suppliers. These
and other risks and uncertainties, as well as other information related
to Celestica, are discussed herein and in our various public filings at
www.sedar.com and www.sec.gov, including our Annual Report on Form 20-F and subsequent reports on
Form 6-K filed with the U.S. Securities and Exchange Commission and our
Annual Information Form filed with the Canadian securities regulators.
Forward-looking statements are provided for the purpose of providing
information about management’s current expectations and plans relating
to the future.  Readers are cautioned that such information may not be
appropriate for other purposes. Except as required by applicable law,
we disclaim any intention or obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.

Our revenue and  earnings guidance, as contained in this press release,
is based on various assumptions which management believes are
reasonable under the current circumstances, but may prove to be
inaccurate, and many of which involve factors that are beyond the
control of the company. The material assumptions may include the
following: our ability to effectively manage the RIM transition
activities; forecasts from our customers, which range from 30 to 90
days and can fluctuate significantly in terms of volume and mix of
products or services; the timing and execution of, and investments
associated with, ramping new business; the success in the marketplace
of our customers’ products; general economic and market conditions;
currency exchange rates; pricing and competition; anticipated customer
demand; supplier performance and pricing; commodity, labor, energy and
transportation costs; operational and financial matters; technological
developments; the timing and execution of our restructuring actions;
and our ability to diversify our customer base and develop new
capabilities. These assumptions and estimates are based on management’s
current views with respect to current plans and events, and are and
will be subject to the risks and uncertainties referred to above.  It
is Celestica’s policy that our guidance is effective on the date given,
and will only be updated through a public announcement. 

SOURCE Celestica Inc.


Source: PR Newswire