Spirit AeroSystems President and CEO announces intention to retire in early
WICHITA, Kan., Nov. 19, 2012
WICHITA, Kan., Nov. 19, 2012 /PRNewswire/ --Spirit AeroSystems [NYSE: SPR]
announced today that its President and Chief Executive Officer, Jeffrey L.
Turner has advised its Board of his intention to retire in early 2013, after
the Board has had an opportunity to conduct a search for and hire a new CEO.
Turner will continue to serve as President and CEO until his successor takes
The Board convened a special CEO search committee comprised of Spirit Board
members Robert Johnson, Tawfiq Popatia, Francis Raborn, Paul Fulchino and
Ronald Kadish to begin the CEO search process, targeting qualified internal
and external candidates.
"I decided to inform the Board of Directors of my intention to retire in
early 2013 to ensure adequate time to find a suitable replacement, and allow
for an effective handover of duties," said Jeff Turner, adding "I am proud of
the great Company we have formed, the growth we have achieved since 2005 and
the solid opportunities for the future. I am now looking forward to the next
phase in my life, and handing over the reins to a new CEO to take Spirit
Robert Johnson, Chairman of the Board, expressed the Board's appreciation for
Jeff Turner's distinguished leadership and contributions as President and CEO
of Spirit AeroSystems. Johnson added, "Jeff was instrumental in the formation
of Spirit seven years ago, and its strategic global growth as a public company
since that time. The Board of Directors looks forward to working with Jeff as
we select a new CEO and begin a comprehensive succession."
On the web: http://www.spiritaero.com
About Spirit AeroSystems, Inc.
Spirit AeroSystems, with headquarters in Wichita, Kan., USA, is one of the
world's largest non-OEM designers and manufacturers of aerostructures for
commercial aircraft. In addition to its Wichita and Chanute facilities in
Kansas, Spirit has locations in Tulsa and McAlester, Okla.; Kinston, N.C.;
Nashville, Tenn; Prestwick, Scotland; Preston, England; Subang, Malaysia; and
Saint-Nazaire, France. In the U.S., Spirit's core products include fuselages,
pylons, nacelles and wing components. Additionally, Spirit provides
aftermarket customer support services, including spare parts,
maintenance/repair/overhaul, and fleet support services in North America,
Europe and Asia. Spirit Europe produces wing components for a host of
customers, including Airbus.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements concerning future
business operations. Actual results or circumstances may vary materially from
those indicated or implied in this press release as a result of certain risks
and uncertainties, including our ability to continue to grow our business and
execute our growth strategy, including the timing, execution, and
profitability of new programs; our ability to perform our obligations and
manage costs related to our new commercial and business aircraft development
programs and the related recurring production; margin pressures and the
potential for additional forward-losses on aircraft development programs; the
accuracy or completeness of our assessment of damage and costs of restoration
and recovery from the severe weather event that hit our Wichita, Kan. facility
on April 14, 2012; as well as other risks and uncertainties, including but not
limited to those detailed in Spirit AeroSystems Holdings, Inc. Securities and
Exchange Commission filings.
SOURCE Spirit AeroSystems
Contact: Coleen Tabor, Investor Relations, +1-316-523-7040; Ken Evans,
Corporate Communications, +1-316-523-4070
Press spacebar to pause and continue. Press esc to stop.