February 6, 2023
Future Electronics CEO Steps Down Amidst Controversy
$6 billion supplier of LEDs and other electronics announces a new CEO
On Thursday February 2, Canadian Broadcasting Corporation (CBC/Radio-Canada) aired a detailed and disturbing investigative report alleging that Future Electronics Founder, Chairman, President and CEO, Robert G. Miller, paid numerous teen girls large sums of money in exchange for sex — allegations he denies.
Miller founded Future Electronics in 1968 and Canadian Business Magazine has ranked the billionaire businessman to be among Canada’s 100 Richest People numerous times. Future Electronics is an important stakeholder in the lighting industry supply chain as it is believed to sell over $100 million of LEDs and related components to large and small North American lighting manufacturers.
On the same day of the broadcast, Quebec-based Future Electronics sent a memo to employees announcing that 79-year-old Miller is stepping down from his leadership role and that Omar Baig is the new CEO and President of Future Electronics – this according to a follow-up CBC/Radio-Canada report. In 2017, Baig was promoted to Executive Vice-President Worldwide, Sales and Marketing, and three years later, Miller promoted Baig to Chief Operating Officer.
The one-year investigative report collected statements from ten women who claim they were given cash and gifts in exchange for sex with Miller between 1994 and 2006. Six of those ten were allegedly underage at the time. Montreal police investigated Miller in the past, but no charges were ever filed. The report includes numerous damning statements from a private investigator who was hired by Miller’s ex-wife to follow Miller and report on his activity.
VIDEO: CBC summary report (4 minutes) »
In a Friday statement, Future Electronics shared that Miller had not been “involved in the operations for a number of years.” The company announcement went on to explain:
“Mr. Miller adamantly and vehemently denies the malicious allegations made against him, and confirms they are false and wholly unsubstantiated and that they arose as a result of a bitter divorce. They are now being repeated for financial gain. A police investigation was conducted into these allegations and the authorities determined that they were unfounded.”
According to Forbes’ Real-Time Billionaires list, Miller ranks as the world’s #1618 richest with an estimated net worth of $1.8 billion. Also according to Forbes, Miller rarely grants interviews or attends public ceremonies and does not allow his picture to be taken.
Future Electronics claims to employ 5,500+ employees with 170 locations in 44 countries around the world. Supply Chain Connect estimates that Future Electronics’ 2021 sales were approximately $6 billion USD. That would rank Future as the fourth largest electronics distributor behind publicly traded Arrow Electronics, WPG Holdings and Avnet.
VIDEO: Original CBC Broadcast (43 minutes) »