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Jabil Circuit Names Rapp Chief Operating Officer

Jabil Circuit

(JBL) - Get Jabil Inc. Report

named Ron Rapp to the newly created position of chief operating officer.

The electronics contract manufacturer, which is based in St. Petersburg, Fla., said Rapp has been with Jabil for 17 years, serving as treasurer, chief financial officer and as executive vice president of operations.

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In addition, Scott Brown was named senior vice president of strategic planning. Brown most recently served as vice president of corporate development. The company named Bill Peters senior vice president of operations, where he will be responsible for the full direction of global operations.

Senior Vice President Butch Edwards will take on a new role focused on operational development and training. Jeff Lumetta, who joined the company in 1986, will serve in a new role as vice president of Jabil Technology Services.

Shares of Jabil have recovered most of the losses from earlier today, but were still trading below yesterday's close. Jabil was recently down $1.19, or 2.5%, to $45.63, but has traded as low as $42 today.