Who Owns Jabil Circuit Company?

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Who Really Owns Jabil Circuit?

Unraveling the ownership of Jabil Inc., a global leader in manufacturing services, is key to understanding its strategic moves and future prospects. With Michael Dastoor recently taking the helm as CEO in May 2024, the question of who controls this industry giant becomes even more pertinent. This deep dive explores the evolution of Jabil's ownership, from its origins to its current status as a publicly traded company.

Who Owns Jabil Circuit Company?

Founded in 1966 by James Golden and William E. Morean, Jabil has grown from a small electronics manufacturer to a global powerhouse. Understanding the Jabil Circuit SWOT Analysis is essential for investors and stakeholders. Today, with its headquarters in St. Petersburg, Florida, and a vast network spanning over 30 countries, Jabil's ownership structure reflects its significant influence in the market, with a market capitalization of $18.87 billion as of June 2025.

Who Founded Jabil Circuit?

The story of Jabil Circuit began in 1966, founded by James Golden and William E. Morean in the suburbs of Detroit, Michigan. Initially, the company focused on producing and repairing circuit board assemblies. The name 'Jabil' was a combination of the founders' first names, setting the stage for the company's identity.

Early on, the ownership of Jabil shifted. James Golden sold his stake, leaving William E. Morean as the primary owner. This early ownership structure was critical in shaping the company's future direction and growth.

William D. Morean, son of William E. Morean, joined the company in 1977. He played a key role in expanding Jabil's business, notably by securing significant contracts. His acquisition of a controlling share from his father further solidified the Morean family's influence over Jabil's trajectory.

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Founders

James Golden and William E. Morean founded Jabil Inc. in 1966. The founders' initial focus was on circuit board assemblies.

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Early Ownership Changes

James Golden sold his stake to William E. Morean. William D. Morean later acquired a controlling share.

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William D. Morean's Role

William D. Morean joined in 1977. He played a pivotal role in shaping Jabil's direction. He secured major contracts with clients.

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Acquisition Details

William D. Morean acquired a 51% stake. He paid $100,000 over five years for the controlling share.

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Early Revenue

At the time of William D. Morean's acquisition, Jabil's annual revenue was less than $50,000.

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Foundation for Growth

The early ownership structure laid the groundwork for Jabil's future expansion. The Morean family gained significant control.

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Key Takeaways

The early history of Jabil, from its founding to the shift in ownership, highlights the importance of strategic decisions. The Morean family's influence was crucial in the company's development.

  • Founded in 1966 by James Golden and William E. Morean.
  • William D. Morean's role was pivotal in expanding Jabil.
  • Acquisition of a controlling share by William D. Morean.
  • Early revenue was under $50,000 at the time of the acquisition.

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How Has Jabil Circuit’s Ownership Changed Over Time?

The evolution of Jabil Circuit, now known as Jabil Inc., from a private entity to a publicly traded company marks a significant shift in its ownership structure. The company's journey began with its founding, but a pivotal moment occurred in April 1993 with its Initial Public Offering (IPO). This IPO, which saw Jabil listed on the New York Stock Exchange (NYSE) under the ticker symbol JBL, offered approximately 20% to 30% of its shares to the public. Prior to the IPO, William D. Morean held a substantial stake, around 72% of the company's shares.

Today, Jabil Inc. has a widely held ownership structure, predominantly influenced by institutional investors. This transition has shaped the company's strategic direction and corporate governance, reflecting broader market trends of institutional investment. Understanding the evolution of the Jabil ownership structure provides insight into its financial performance and its position within the market. You can learn more about the Target Market of Jabil Circuit.

Shareholder Shares Held (as of June 2025) Percentage of Ownership (as of June 2025)
Vanguard Group Inc. 13,249,892 12.1%
BlackRock, Inc. 9,080,155 8.46%
Wellington Management Group LLP 6,556,153 5.985%
Texas Yale Capital Corp. 6,399,805 5.843%
State Street Corp 5,154,334 4.706%

As of June 2025, institutional investors held a total of 116,619,644 shares. While insider holdings slightly decreased to 1.77% in May 2025, institutional ownership remained largely consistent at 96.56%.

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Key Takeaways on Jabil Ownership

Jabil's ownership structure has evolved significantly since its founding, transitioning from private to public ownership.

  • The IPO in April 1993 was a key event, making Jabil a publicly traded company.
  • Institutional investors now hold a significant majority of Jabil's shares.
  • Major institutional shareholders include Vanguard Group Inc. and BlackRock, Inc.
  • The shift towards institutional ownership aligns with broader market trends.

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Who Sits on Jabil Circuit’s Board?

The current Board of Directors at Jabil Inc. oversees the company's strategic direction. As of September 2024, the board includes Michael Dastoor, who became CEO in May 2024, and Gregory Hebard, appointed CFO in May 2024. Mark Mondello serves as the Executive Chairman.

The board's composition includes individuals with expertise in technology, finance, and global operations. Sujatha Chandrasekaran joined the Board of Directors in April 2025, bringing experience in portfolio strategy, finance management, technology, data, and AI transformation. This diverse background supports Jabil's operations and strategic planning. For more details, you can read a brief history of Jabil Circuit.

Board Member Title Appointment Date
Michael Dastoor CEO & Director May 2024
Mark Mondello Executive Chairman N/A
Gregory Hebard CFO May 2024
Sujatha Chandrasekaran Director April 2025

Jabil Inc. operates with a one-share-one-vote structure. There is no information suggesting dual-class shares. Recent leadership changes, such as the departure of former CEO Kenneth Wilson in May 2024 following an internal investigation, highlight the board's role in corporate governance and accountability. This structure ensures that all shareholders have voting rights proportional to their ownership, which is typical for a publicly traded company. The board's decisions directly influence the company's leadership and strategic direction.

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Key Takeaways on Jabil's Board and Voting

The Board of Directors at Jabil Inc. is responsible for overseeing the company's strategy and operations.

  • Michael Dastoor is the current CEO, appointed in May 2024.
  • Jabil uses a one-share-one-vote system, ensuring equal voting rights for shareholders.
  • The board includes members with diverse backgrounds, supporting strategic decision-making.
  • Recent leadership changes underscore the board's role in governance.

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What Recent Changes Have Shaped Jabil Circuit’s Ownership Landscape?

Over the past few years, Jabil Inc. has seen significant shifts in its ownership and strategic direction. A key move was the divestiture of its Mobility business in China to BYD Electronic (International) Co. Ltd. for roughly $2.2 billion, completed in December 2023. The company plans to use most of the net proceeds from this sale to repurchase shares, indicating a proactive approach to returning capital to its shareholders. In September 2024, the Board of Directors authorized a new share repurchase program of up to $1 billion in common stock. From September 26, 2024, to January 2, 2025, Jabil repurchased 4,300,000 shares for $636 million, completing a prior buyback authorization.

Leadership changes have also occurred. Michael Dastoor was appointed CEO in May 2024, succeeding Kenneth Wilson. Gregory Hebard was appointed CFO at the same time. These changes followed an internal investigation related to corporate policies. In September 2024, Michael Dastoor was also appointed to the Board of Directors. These moves reflect the company's ongoing evolution and adaptation to market dynamics.

Metric Details Date
Share Repurchase Program Up to $1 billion September 2024
Shares Repurchased 4,300,000 shares September 26, 2024 - January 2, 2025
Cost of Repurchased Shares $636 million September 26, 2024 - January 2, 2025
Institutional Ownership Approximately 96.56% May 2025

Industry trends show an increase in institutional ownership, and Jabil ownership reflects this, with institutional investors holding approximately 96.56% of its shares as of May 2025. This high level of institutional ownership suggests a focus on long-term value creation and shareholder interests. The company has also engaged in strategic acquisitions, such as the Silicon Photonics business of Intel in November 2023. The company's focus on growth areas like AI data center hardware, electric and hybrid vehicles, and healthcare solutions is expected to drive future financial performance. For more information on the company's history, you can read about the [Jabil Circuit company profile](0).

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Divestiture of Mobility business in China to BYD Electronic for $2.2 billion in December 2023.

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High institutional ownership, approximately 96.56% as of May 2025, indicating a focus on long-term value.

Icon Leadership Changes

Michael Dastoor appointed CEO in May 2024, succeeding Kenneth Wilson. Gregory Hebard appointed CFO.

Icon Strategic Acquisitions

Acquisition of Intel's Silicon Photonics business in November 2023, expanding technology portfolio.

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