• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

2

Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster

3

Elon Musk on MacKenzie Scott giving away $26 billion of her fortune: 'Sadly,' it makes the world a worse place

1

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

2

Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster

3

Elon Musk on MacKenzie Scott giving away $26 billion of her fortune: 'Sadly,' it makes the world a worse place
Techchief executive officer (CEO)

CEO at $14 billion electronics firm can’t talk about his resignation following an internal investigation

Amanda Gerut
By
Amanda Gerut
Amanda Gerut
News Editor, West Coast
Down Arrow Button Icon
Amanda Gerut
By
Amanda Gerut
Amanda Gerut
News Editor, West Coast
Down Arrow Button Icon
May 24, 2024, 6:00 PM ET
Kenny Wilson's last day as CEO was May 18, 2024.
Kenny Wilson's last day as CEO was May 18, 2024.Getty Images
Add Fortune on Google for similar content.

After a four-week internal investigation at $14 billion electronics manufacturer Jabil Inc., CEO Kenneth “Kenny” Wilson has abruptly resigned just after passing his one-year anniversary at the helm of one of the chief suppliers to Apple, Cisco, and General Motors.

Recommended Video

In exiting the CEO role last week, Wilson agreed to a set of restrictive covenants with one strikingly unusual provision: He’s banned from speaking to the media other than to say, “no comment,” according to his separation agreement. Wilson was also required to give the company a sworn written statement before his formal departure on May 18, but Jabil redacted the contents of the affidavit from investors. In exchange, Jabil paid him $2 million and allowed some of his unvested equity awards to continue to vest. (The company redacted its disclosures about his unvested equity.)

The company previously benched Wilson on April 15 and put him on leave while it conducted an investigation “related to corporate policies,” allowing him to collect his $1 million salary during that time. Jabil didn’t disclose details about the investigation, only stating that it was unrelated to the company’s financial reporting. It also remained mum on the substance and outcome of the investigation. Instead, Jabil simply announced that Wilson “ceased to serve as chief executive officer” on May 18 after the investigation was completed.

Meanwhile, Wilson’s two adult sons work for Jabil: Jordan Wilson is a business unit manager in Austin, Texas, and Adam Wilson holds the same title and works in St. Petersburg, Fla., according to LinkedIn and Jabil’s disclosures.

Under the terms of his exit as CEO, Kenny Wilson is subject to a two-year non-compete and non-disparagement agreement, which are typical terms when an executive and a company agree that the executive will resign. 

But then it gets unusual. 

Wilson’s agreement binds him to a “no comment” or non response if he is contacted by a member of the press, and Wilson is required to alert Jabil’s general counsel Kristine Melachrino by email about any media inquiry within 72 hours.

“You will not, nor permit, assist, or encourage others to, publish or otherwise communicate with any representative of the media about any aspect of your employment or this agreement,” the deal says. In turn, Jabil agreed not to respond, or to respond with “no comment,” about Wilson’s employment, or to provide the joint announcement. The agreement extends to any other form of on- or off-the-record communication with the media, including “deep background,” the deal specifies.

For that, Wilson gets paid $2 million, and he’ll keep his long-term incentive awards as well as the cash value of unvested long-term equity awards scheduled to vest in 2024. (He had to forfeit equity that was scheduled to vest in 2025 and 2026.) According to Jabil’s 2023 shareholder report, Wilson made $1 million in salary, and got a long-term equity award valued at $6.2 million in conjunction with his promotion to CEO in April 2023. His total pay in 2023 was valued at $10.2 million, and he held unvested equity valued at around $7 million, according to Jabil’s reports.

Brittany McCants, a partner in labor and employment at law firm Barnes & Thornburg, explained that the $2 million payment was not characterized as severance; it was a single payment made in exchange for continued compliance with restrictive covenants and providing an affidavit. “This payment structure coupled with previous disclosures referencing an investigation suggest a less than amicable separation between the executive and the company, and so the company has an interest in paying to get this done quickly while protecting themselves,” she told Fortune.

Public companies typically don’t formally terminate CEOs or other executives “for cause” because it will likely have a negative impact on the company’s stock price since this can signal discord, or worse, incompetent leadership in the C-suite. And while it’s standard for companies to avoid disclosing the results of an investigation and the specific nature or reasoning why a CEO departs after an investigation, the extensive media communication provision in the separation agreement explicitly outlining what Wilson is and is not permitted to say to the media is not typical, in her experience.

“This seems to me like they’re worried about some kind of specific discussion about the investigation or his departure,” said McCants. “They’re giving very explicit instructions on what he can and can’t discuss around his employment, departure, and the investigation, which takes the decision of what to share and what not to share outside his judgment and discretion.”

Normally, companies only rely on a non-disparagement clause in separation agreements to adequately protect themselves from a departing executive’s representations. Wilson’s contract includes a non-disparagement clause on top of his press prohibition.

“It seems like there was some kind of disagreement or continued discord here, and the company is focused on trying to make sure its brand and reputation are fully protected,” said McCants.

In other words, it doesn’t seem like Wilson and his former employer are on good terms.

In contrast, when departures are more amicable, companies typically ensure that the characterization of the outgoing executive’s separation is focused on a new opportunity or retirement so there’s no risk of negative assumptions in the absence of communications about a “job well done” and positive wishes in future endeavors, noted McCants.

Jabil did not comment in response to a request. Wilson did not respond to Fortune’s attempts to reach him. 

Wilson’s exit earned him a 10 on “The Push-Out Score” from independent research firm Exechange, which tracks executive departures and ranks on a scale of 0 to 10 whether a CEO or CFO was forced out or pressured to resign rather than left voluntarily. Wilson’s age, 58, plus his short tenure in the CEO role, and the form and language of the notice all contributed to the score, Exechange researcher Daniel Schauber wrote in the firm’s April report. “The constellation of all the aforementioned warning signals leaves little room for interpretation and indicates that Wilson was under pressure to leave his post as CEO,” he explained.

Wilson’s departure comes as public ratings of Jabil on employee review platform Indeed have trended downward from 3.04 in 2022 to 2.92 in 2024, out of 3,900 reviews and with 5.0 as the highest. Jabil ranked below average in Indeed’s work wellbeing survey, scoring a 68. Overall, the company scored a 3.8 out of 5.0 on both Indeed and employee platform Glassdoor. Among the categories that employees can review, including work-life balance, pay, culture and job security, management scored the second-lowest, at 3.5.

An April review from a former Jabil recruiting coordinator in St. Petersburg, Fla., said it was mostly “a boys club with terrible communication.” An inspector currently at the company in Elmira, New York, said they loved the job but felt they were treated poorly. “All about who you know, who you are friends with, related to, or who you are dating,” the employee wrote. “HR is biased, good luck receiving any help when you are having any issue with a coworker or supervisor.”

However, other reviewers awarded the company five stars and said it was a great place to work with “outstanding” management, good pay and benefits, and a professional workplace culture. Wilson had an 86% approval rating on Glassdoor.

His departure led to a full-scale shakeup at Jabil, which was another refrain among the constructive criticism employees had for the company. “Form some actual strategy around our vision statement. Stop randomly reorganizing in hopes of finding a savior,” wrote an employee on Comparably in a review directed at company leadership.

Jabil appointed CFO Michael Dastoor as interim CEO during the investigation, and on May 18, the board named Dastoor CEO to replace Wilson. To replace Dastoor, the new CFO is Gregory Hebard, the company’s former treasurer.

And Steven Borges, an executive who had taken leave as part of a planned retirement and had entered a mutual separation agreement, returned to his role on May 18 under the title of executive vice president of the company’s global business units. Jabil extended Borges’ employment with an amendment to his initial deal to retire. That separation agreement did not include the media provision included in Wilson’s deal. 

About the Author
Amanda Gerut
By Amanda GerutNews Editor, West Coast

Amanda Gerut is the west coast editor at Fortune, overseeing publicly traded businesses, executive compensation, Securities and Exchange Commission regulations, and investigations.

See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Tech

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Tech

Nikesh Arora, chief executive officer at Palo Alto Networks
SuccessJobs
CEO of $248 billion cybersecurity company says workers are about to face a ‘Darwinian moment’ thanks to AI: Evolve or get cut
By Emma BurleighJuly 1, 2026
1 hour ago
Current price of Ethereum for July 1, 2026
Personal FinanceEthereum
Current price of Ethereum for July 1, 2026
By Joseph HostetlerJuly 1, 2026
3 hours ago
In this photo illustration, a Cisco logo is displayed on a smartphone with Artificial Intellingence (AI) symbols in the background.
AICFO Daily
Cisco is rolling out AI agents to every single one of its 90,000 employees
By Sheryl EstradaJuly 1, 2026
3 hours ago
senate
CommentaryCongress
One rare bipartisan AI bill is moving through Congress. Here’s why it deserves to pass
By Neil Björkman and Betsy BrewerJuly 1, 2026
5 hours ago
I know how Gen Z can survive the ‘jobpocalypse’ because I built an AI company — in 2015
CommentaryCareers
I know how Gen Z can survive the ‘jobpocalypse’ because I built an AI company — in 2015
By Jeremy FainJuly 1, 2026
5 hours ago
OCBC rolls out its ‘avatar banking’ platform with ‘Wendy’ and ‘Wayne,’ two virtual financial advisors, as banks integrate AI into wealth management
AsiaSingapore
OCBC rolls out its ‘avatar banking’ platform with ‘Wendy’ and ‘Wayne,’ two virtual financial advisors, as banks integrate AI into wealth management
By Angelica AngJuly 1, 2026
5 hours ago

Most Popular

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year
Success
MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year
By Sydney LakeJune 25, 2026
6 days ago
Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster
Success
Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster
By Preston ForeJune 27, 2026
4 days ago
Elon Musk on MacKenzie Scott giving away $26 billion of her fortune: 'Sadly,' it makes the world a worse place
Success
Elon Musk on MacKenzie Scott giving away $26 billion of her fortune: 'Sadly,' it makes the world a worse place
By Sydney LakeJune 29, 2026
2 days ago
The U.S. Army is opening military bases to private billions — here's why that changes everything for the next 250 years
Commentary
The U.S. Army is opening military bases to private billions — here's why that changes everything for the next 250 years
By Marc AndersenJune 30, 2026
1 day ago
Current price of oil as of June 30 2026
Personal Finance
Current price of oil as of June 30 2026
By Joseph HostetlerJune 30, 2026
1 day ago
As Big Tech showers employees with perks to win the talent war, Nvidia built a nearly $5 trillion company by making people pay for their own lunch
Big Tech
As Big Tech showers employees with perks to win the talent war, Nvidia built a nearly $5 trillion company by making people pay for their own lunch
By Marco Quiroz-GutierrezJuly 1, 2026
9 hours ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.