Plexus Corp. (NASDAQ: PLXS) announced today the appointment of Steve Frisch, 55, to President and Chief Strategy Officer and Oliver Mihm, 50, to Executive Vice President and Chief Operating Officer.
These promotions expand senior leadership bandwidth and further leverage organizational talent to guide successful execution of Plexus’ strategy within the current demand and operating environment. In addition, the appointments strengthen Plexus’ position to maintain industry-leading revenue growth and operating performance to create shareholder value. With his promotion, Mr. Frisch assumes the responsibilities of driving the long-term growth of the enterprise, innovation across Plexus’ global operations and the execution of Plexus’ strategy. These responsibilities include oversight of Plexus’ go-to-market, manufacturing technology, engineering solutions, quality and information technology organizations. With his promotion, Mr. Mihm assumes the responsibilities of ensuring global operational alignment and flawless global execution including oversight of Plexus’ regional operations and the aftermarket services and supply chain organizations.
Todd Kelsey, Chief Executive Officer, commented, “These promotions support long-term succession planning and the ability to successfully execute our strategy that is comprised of a defined market focus, superior execution, a passion for excellence and a disciplined financial model. Steve and Oliver are positioned to employ their unique talents and substantial industry expertise to support Plexus’ vision to help create the products that build a better world and our goal of $5 billion in revenue with a 5.5% GAAP operating margin by our fiscal 2025.”
Mr. Kelsey continued, “Steve is an experienced leader with an extensive knowledge of our company, customers and industry. These attributes make him exceptionally qualified to succeed in his new role, driving superior revenue growth though global alignment of our market-driven strategy, and ensuring that the technology and innovation are in place to sustain Plexus’ success. Throughout his more than 30-year tenure with Plexus, Steve has demonstrated a reputation for developing high performing teams, establishing new strategies, building on Plexus’ competitive advantages and delivering results that drive shareholder value.”
Mr. Kelsey concluded, “Oliver’s experiences across our organization, along with his consistent pattern of leadership and delivering outstanding results, positions him to expand upon our One Plexus operational model and advance Plexus’ commitment to flawless execution and customer service excellence. During Oliver’s more than 20-year tenure with Plexus, he has elevated team members and organizations and successfully implemented new solutions to improve operational efficiency and facilitate customer success. These efforts have furthered Plexus’ market leadership position and created shareholder value.”
Mr. Frisch joined Plexus in 1990 as a design engineer. Since 2016, Mr. Frisch served as Executive Vice President and Chief Operating Officer. Prior to that appointment, Mr. Frisch was Executive Vice President and Chief Customer Officer, served as Executive Vice President – Global Customer Services, Regional President – EMEA, led Plexus’ Global Engineering Solutions and held various leadership positions across the Company. Mr. Frisch holds a bachelor's degree in electrical engineering and technology from the Milwaukee School of Engineering, a master's degree in electrical engineering and computer science from Marquette University and a master's degree in business administration from the University of Wisconsin-Madison.
Mr. Mihm joined Plexus in 2000 as a design engineer. Since 2020, Mr. Mihm has served as Executive Vice President – Global Supply Chain and Operational Solutions, previously serving as Executive Vice President Supply Chain since 2019. From 2015 to 2019, Mr. Mihm served as Regional President – EMEA. Prior to that, Mr. Mihm was Industrial Market Sector Vice President, led our Global Engineering Solutions and held various leadership roles within our Engineering Solutions organization. Mr. Mihm holds a bachelor’s degree in electrical and electronics engineering from the Pennsylvania State University College of Engineering and a master’s degree in business administration with a specialization in international business from Marquette University.