Plexus ( PLXS) Chief Operating Officer Paul Ehlers will "assume a diminished role" at the company in the months ahead as he faces a serious medical condition, the company said in an 8-K filing with the Securities and Exchange Commission on Friday.

Shares of the Neenah, Wisc.-based electronics manufacturing services firm shed 44 cents, or 1.7%, in recent trading to $23.86.

CEO Dean Foate will take on the COO responsibilities in the meantime, but will not assume the title. Foate served as COO of the company from 2001 to 2002.

"The company has put an interim organizational structure in place with certain key leaders in the Plexus organization assuming broader responsibilities to ensure the continuity and growth of the business," Plexus said.

"We are fortunate that Plexus has the bench strength to make these changes without significant disruption to the organization. On behalf of the entire organization, I would like to extend our best wishes and support to Paul," Foate said in the filing.

Plexus reports its first-quarter results on Jan. 24 after the close of the market.

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