Jabil Announces Succession Plans

  Jabil Announces Succession Plans

        Mark Mondello to Become Chief Executive Officer in March 2013

Business Wire

ST. PETERSBURG, Fla. -- October 18, 2012

The Jabil (NYSE: JBL) Board of Directors has appointed Mark T. Mondello Chief
Executive Officer of the company, effective March 1, 2013. Mondello was also
nominated to stand for election to the board of directors at the company’s
annual meeting of shareholders in January 2013. Mondello, currently the
company’s Chief Operating Officer, will succeed Timothy L. Main, Jabil’s
current President and CEO. Main will remain President & CEO until March 2013
as part of a planned and orderly executive succession. The Board anticipates
Main will be appointed Chairman of the Board at the company’s annual meeting
of shareholders in January 2013.

“The opportunity to lead Jabil for the past 12 years as CEO has been a
privilege and an honor,” Main said. “I believe the company is in a strong
position and it is the right time for an orderly and progressive leadership
transition. I believe that Mark is a proven leader with the vision, energy and
drive to lead Jabil to even greater success. I have absolute confidence in his
ability to lead this company forward,” Main added.

“With Tim at the helm, Jabil transformed its strategic direction by focusing
on market diversification and making thoughtful business decisions based on
clear understanding of the industry,” said William D. Morean. “In his 20 years
at Jabil Mark has distinguished himself as a leader who embodies the
results-oriented Jabil culture. The Board and I are truly looking forward to
this next phase of Jabil’s growth under Mark’s leadership.”

“We expect to continue to be a world leading global services partner by
offering differentiated capabilities and cost-effective services,” said
incoming CEO Mark Mondello. “I am humbled to assume this role with the
responsibility to carry the Jabil torch forward and appreciate the confidence
of Bill, Tim and the entire Board.”

“I am committed to leading a great team focused on our customers,
shareholders, employees and suppliers,” Mondello continued. “Our team is
excited about the many opportunities that are ahead of us.”

About Jabil

Jabil is an electronic product solutions company providing comprehensive
electronics design, manufacturing and aftermarket product management services
to global electronics and technology companies. Offering complete product
supply chain management from facilities in 29 countries, Jabil provides
comprehensive, individualized-focused solutions to customers in a broad range
of industries. Jabil common stock is traded on the New York Stock Exchange
under the symbol, “JBL”. Further information is available on Jabil’s website:
jabil.com.

Mark T. Mondello

Mark Mondello joined Jabil in 1992 as a manufacturing supervisor. He was
promoted to Project Manager in 1993, named Vice President, Business
Development in 1997 and Senior Vice President, Business Development in 1999.
Mondello was promoted to Chief Operating Officer in 2002, overseeing global
operations, business development, new product development, supply chain and
information technology. Prior to Jabil, Mondello was a commercial and
defense-related aerospace project manager for Moog, Inc. A native of Chicago,
Mark holds a Bachelor of Science in Mechanical Engineering from the University
of South Florida.

Mark is long-time member of the Board of Trustees of All Children’s Hospital
in St. Petersburg and both he and his wife, Keli are passionate about
community service and actively give their time in support of various
philanthropic efforts. Mark’s middle child, who is nearly 18, has special
needs. “She has taught me a tremendous amount about life and facing challenges
head on without complaint,” Mondello says.

This news release contains forward-looking statements, including those
regarding our expected executive succession, Timothy L. Main's expected
appointed as Chairman of the Board, our achievement of greater success in the
future, our growth under Mark T. Mondello's leadership, and our continuing to
be a world leading global services partner. These statements are based on
current expectations, forecasts and assumptions involving risks and
uncertainties that could cause actual outcomes to differ materially. These
risks and uncertainties include, but are not limited to: changes in our
strategy; fluctuations in our stock’s market price; fluctuations in operating
results and generation of cash flow; unexpected, adverse seasonal impacts on
demand; changes in macroeconomic conditions, both in the U.S. and
internationally; our financial performance during and after the current
economic conditions; our ability to maintain and improve costs, quality and
delivery for our customers; risks and costs inherent in litigation; whether
our realignment of our capacity will adversely affect our cost structure,
ability to service customers and labor relations; our ability to take
advantage of perceived benefits of offering customers vertically integrated
services; changes in technology; competition; anticipated growth for us and
our industry that may not occur; managing rapid growth; managing rapid
declines in customer demand and other related customer challenges that may
occur; our ability to successfully consummate acquisitions and divestitures;
managing the integration of businesses we acquire; risks associated with
international sales and operations; retaining key personnel; our dependence on
a limited number of customers; business and competitive factors generally
affecting the electronic manufacturing services industry, our customers and
our business; other factors that we may not have currently identified or
quantified; and other risks, relevant factors and uncertainties identified in
our Annual Report on Form 10-K for the fiscal year ended August31, 2011,
subsequent Reports on Form 10-Q and Form 8-K and our other securities filings.
Jabil disclaims any intention or obligation to update or revise any
forward-looking statements, whether as a result of new information, future
events or otherwise.

Contact:

Jabil Circuit, Inc.
Investor & Media Contact:
Beth Walters, 727-803-3349
Senior Vice President, Communications and Investor Relations
beth_walters@jabil.com
 
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