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Electronics Production | November 29, 2006

Celestica CEO departure raises questions

Canada based EMS-provider Celestica said in a press release this week that CEO Stephen Delaney left the company to pursue other business interests. The unexpected departure will likely raise some questions among investors.
Analytics believe that Steve's resignation likely reflected a decision to pursue other opportunities rather than it being a reflection of the turnaround process at Celestica. "We believe Mr. Delaney's exit was essentially due to Celestica's inability to execute on increasing operating margins in the Mexican and European operations," a RBC analyst told Forbes.

President Craig Muhlhauser will assume Delaney's duties effective immediately.
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