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Manila Bulletin devider Business devider The Stock Market devider Ayala Group names new CEO for IMI

Ayala Group names new CEO for IMI

Published Feb 13, 2024 07:28 am

The Ayala Group’s tech manufacturing arm Integrated Micro-electronics Inc. (IMI) announced that its Chief Executive Officer Arthur R. Tan will be replaced by Lou Hughes in May this year.

IMI Arthur Tan.jpg
IMI CEO Arthur R. Tan

In a disclosure to the Philippine Stock Exchange (PSE), IMI said Tan will no longer continue as the corporation’s CEO after the expiration of his term on April 25, 2024.

The firm said its Board of Directors has approved the transition plan for its CEO, as endorsed by its Corporate Governance and Nomination Committee, including the identification and vetting of the candidate for the role.

imi lou hughes.jpg
Candidate for IMI CEO Lou Hughes


“Subject to his appointment by the Board, Mr. Hughes’ assumption of office will be effective on May 1, 2024, after the expiration of the term of Mr. Arthur R. Tan as CEO,” said IMI.

Tan has been in the IMI leadership role for the past 22 years. He has been the driving force behind IMI’s transformation from a Philippines-based contract manufacturing company catering to largely Japanese OEMs to one of the top 25 Global EMS and top 10 Global Auto EMS players with extensive capabilities and operations serving global tier-1 and OEM customers.

IMI said Hughes is a highly experienced professional with extensive global C-suite experience in sales, engineering, sourcing and operations and, will be nominated to succeed Tan as CEO of IMI.

He was previously a senior manager at General Electric, COO of Universal Electronics, a Nasdaq listed EMS company, and CEO of Beyonics, a contract manufacturer headquartered in Singapore.

“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 firm said.

It added that “IMI will continue to uphold the highest standards of corporate governance and transparency throughout this process.”

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