CEO See-ya!

This month: Jure Sola, CEO of Sanmina-SCI.



Who wins this month’s golden ax? Our choice, with help from governance specialists Glass, Lewis & Co., is Sanmina-SCI’s Jure Sola.



CEO: Jure Sola

Tenure: 25 years

Five-Year Record

Total Shareholder Return*: -83.6%

Peer Index Return*: -78.7%

S&P 500 Index Return*: -20.6%

Total CEO Pay: $15.4 million

It has been a rough five years for contract electronics manufacturer Sanmina-SCI. The triple whammy of slowing demand, cheaper Asian competitors, and a key customer loss has hammered profits, and frequent restructurings haven’t helped. Glass, Lewis gives the boss an F in its pay-for-performance model, in part because an insider-stacked board granted him 1 million shares of restricted stock and 1 million options in fiscal 2004, even as the stock fell. Seven analysts have downgraded Sanmina-SCI this year.

*Data from Glass, Lewis & Co. and FactSet Research Systems for five years ending April 5, 2005.