Flex (NASDAQ:FLEX) shares rose 2.6% in premarket trading after the company named its planned cloud and power infrastructure spin-off Axiom Solutions International and filed a preliminary Form 10 registration statement with the US Securities and Exchange Commission.
The filing represents another step in Flex’s previously announced separation plan. The transaction is expected to be completed in the first quarter of calendar 2027, subject to the required conditions.
Axiom Solutions International is expected to trade on Nasdaq under the ticker AXM following the separation.
Flex Appoints Amy Schwetz as Segment CFO
Flex also announced the appointment of Amy B. Schwetz as chief financial officer of its Regulated Manufacturing Services and Integrated Technology Solutions segments, effective October 5, 2026.
The company expects Schwetz to become chief financial officer of Flex following completion of the separation.
Flex also provided details on the expected composition of its board after the transaction. George R. Oliver and Brian Yoor are expected to join the Flex board as part of the planned governance structure.
Separation Expected in First Quarter of 2027
The spin-off forms part of Flex’s broader restructuring of its operations, with Axiom intended to house the company’s cloud and power infrastructure activities.
Flex has also previously announced a $4.4 billion acquisition of EPC Power, a transaction focused on power infrastructure serving areas including AI data centres and the electricity grid.
The company’s 2.6% premarket increase came as broader US equity futures traded modestly lower. The S&P 500, Dow Jones and Nasdaq were all slightly negative, according to the supplied information.
Completion of the Axiom separation remains subject to the conditions associated with the transaction and the regulatory process.
Flex stock price
