kaman corp (KAMN) Key Developments
Kaman Corporation Appoints Robert D. Starr as Executive Vice President, Effective July 1, 2015
Jun 4 15
Kaman Corporation announced that it’s board of directors has appointed chief financial officer Robert D. Starr as executive vice president, effective July 1, 2015. He will continue to serve as the chief financial officer of the company. Starr, who joined the company in 2009, currently serves as senior vice president and chief financial officer and was previously vice president and treasurer. Prior to joining Kaman, Starr was employed by Crane Co. of Stamford, Connecticut, where he served as assistant treasurer. He also previously served as managing director, corporate finance at Aetna Inc. of Hartford, Connecticut and as director, capital markets and risk management at Fisher Scientific International Inc.
Kaman Corporation Declares Regular Quarterly Dividend, Payable on July 7, 2015
Jun 2 15
Kaman Corporation board of directors declared a regular quarterly dividend of 18 cents per common share. The dividend will be paid on July 7, 2015 to shareholders of record on June 16, 2015.
Kaman Corporation Appoints Jennifer M. Pollino to Board of Directors
Jun 2 15
Kaman Corporation announced that its board of directors has appointed Jennifer M. Pollino as a director, effective immediately. The appointment increases the Kaman board to eleven directors. Ms. Pollino’s initial term will expire at the company’s 2016 Annual Shareholders Meeting. The board also appointed Pollino to serve on its personnel & compensation committee. Ms. Pollino currently serves as an Executive Coach and Consultant with JMPollino, LLC. During her twenty-year career at Goodrich, she served in various executive, managerial and financial roles, including Executive Vice President–Human Resources and Communications, President and General Manager of Goodrich Aerospace, Aircraft Wheels & Brakes Division, President and General Manager of Goodrich Aerospace, Turbomachinery Products Division, and Vice President and General Manager of Goodrich Aerospace, Aircraft Seating Products. Before joining Goodrich, she served as a Field Accounting Officer for the Resolution Trust Corporation, the Controller of Lincoln Savings and Loan Association and an Auditor with Peat Marwick Main & Co. Ms. Pollino also currently serves on the boards of directors of Crane Co., where she is a member of its Audit Committee and the Management Organization and Compensation Committee; and Wesco Aircraft Holding Inc., where she is a member of its Compensation Committee. She previously served on the board of directors of the Society for Human Resources Management was a member of its Audit Committee.
Kaman Corp.' Aerospace Segment Wins $68 Million in Joint Programmable Fuze Orders
May 12 15
Kaman Corp. announced that its Aerospace segment has been awarded several commercial sale purchase orders for the procurement of Joint Programmable Fuzes (JPF) totaling $68 million. The fuzes are expected to be delivered in 2015 and 2016.
Kaman Corporation Closes on Amended and Restated $700 Million Credit Facility
May 6 15
Kaman Corporation announced that it has closed on an amended and restated $700 million credit facility. The new credit facility amends and restates the company’s prior credit facility to, among other things: (i) extend the maturity date to May 2020; (ii) increase the aggregate amount of revolving commitments from $400 million to $600 million; (iii) reinstate the aggregate amount of outstanding term loans to $100 million; (iv) modify the affirmative and negative covenants set forth in the facility; and (v) effectuate a number of additional modifications to the terms and provisions of the facility, including its pricing. The amended and restated facility is collateralized by the company’s tangible and intangible personal property and other assets, including the stock and assets of its material domestic subsidiaries that are guarantors of the facility, and includes a typical financial covenant package, which the company believes reflects current market terms and conditions. The facility includes an accordion feature that allows the company to increase the aggregate amount available to up to $900 million with additional commitments from the lenders.