$6.7B St. Pete tech company's CEO placed on leave during investigation

Kenneth Wilson, who less than a year ago was named CEO of the St. Petersburg technology company Jabil Inc., has been suspended.

In a six-sentence filing with the Securities & Exchange Commission Thursday, the company says Wilson “was placed on a paid leave pending completion of an investigation related to corporate policies.”

The leave began April 15.

Jabil wrote in the filing that “The conduct that prompted this review does not relate to, and does not impact, the company’s financial statements or financial reporting.”

Michael Dastoor, Jabil’s chief financial officer, has been named interim CEO.

On Friday, a Jabil spokesperson responded to questions about whether the policies allegedly violated had to do with financial or personnel improprieties with an emailed statement repeating much of what was written in the filing with the SEC.

Also unanswered were questions about how long the leave could last, what information led to the investigation and whether the investigation was being handled internally or by an outside entity.

“Trust, accountability, and integrity are core to our company culture, and we are committed to upholding these principles,” the spokesperson wrote, adding in a follow up email that, “All I can share is what you see in our 8K and my email.”

Jabil is a multinational manufacturing company that makes parts for major brands.

Wilson was named CEO in May 2023, taking over for Mark Mondello.

According to a news release announcing the promotion, Wilson has been with the company since 2000, when he joined Jabil as a business unit coordinator in Livingston, Scotland. Most recently, he had led the firm’s Green Point division in Asia.

Jabil’s net revenue, according to its second quarter earnings report released in March, was down 16.8% to $6.7 billion for the first three months of the fiscal year when compared with last year.