Celestica NYSE:CLS shares rose about 6% to $357.08 on Monday after the company named Steven Dorwart as president of its Connectivity and Cloud Solutions segment, effective July 6, 2026.
Dorwart succeeds Jason Phillips, who plans to retire at the end of the year. Phillips will stay on in an advisory role through the transition, giving Celestica time to hand over one of its most important growth businesses without disruption.
Celestica is a supply-chain and manufacturing partner for major technology companies. It designs, builds, and supports hardware used in cloud data centers, networking, communications, aerospace, defense, and industrial markets. Its Connectivity and Cloud Solutions unit is especially tied to the AI and cloud infrastructure buildout, where demand for servers, switches, and advanced hardware remains strong.
CEO Rob Mionis said Dorwart, a 21-year Celestica veteran, has played a key role in the company's growth and brings the customer relationships and leadership needed to keep momentum going.
For investors, the appointment looks less like a sudden shake-up and more like a continuity move at a company still benefiting from cloud and AI infrastructure demand.