WOOD DALE, Ill., July 10, 2017 /PRNewswire/
-- AAR (NYSE: AIR) announced that Michael D. Milligan was appointed Chief
Financial Officer effective September 1,
2017 at today's quarterly Board of Directors meeting.
Milligan spent the last 16 years as Senior Vice President and
Chief Financial Officer with NES Rental Holdings, Inc., a private
equity-owned national supplier of equipment rental services to
construction and industrial services companies. He previously
served 14 years at Pricewaterhouse Coopers, including time as a
partner in the Transaction Services Group and the National Practice
Leader for Industry Consolidations. After 30 years in financial
positions, Milligan has significant finance and accounting
expertise, as well as merger and acquisition experience, having led
numerous transactions during his time at NES.
"Mike is a valuable addition to our senior management team,"
said David P. Storch, Chairman and
Chief Executive Officer of AAR. "Given his track record of reducing
operating costs, managing debt and completing acquisitions, he will
be a key contributor to AAR's future success and shareholder
value."
AAR's long-time Chief Financial Officer Timothy J. Romenesko, who previously announced
his plan to retire at year's end, will work closely with Milligan
as he transitions into his new role.
Milligan, 54, is a graduate of the University of South Florida and lives in
Lake Forest, Illinois with his
family.
About AAR
AAR is a global aftermarket solutions
company that employs more than 5,000 people in over 20 countries.
Based in Wood Dale, Illinois, AAR
supports commercial aviation and government customers through two
operating segments: Aviation Services and Expeditionary Services.
AAR's Aviation Services include inventory management; parts supply;
OEM parts distribution; aircraft maintenance, repair and overhaul;
and component repair. AAR's Expeditionary Services include airlift
operations; mobility systems; and command and control centers in
support of military and humanitarian missions. More
information can be found at www.aarcorp.com.
This press release
contains certain statements relating to future results, which are
forward-looking statements as that term is defined in the Private
Securities Litigation Reform Act of 1995. These forward-looking
statements are based on beliefs of Company management, as well as
assumptions and estimates based on information currently available
to the Company, and are subject to certain risks and uncertainties
that could cause actual results to differ materially from
historical results or those anticipated, including those factors
discussed under Item 1A, entitled "Risk Factors", included in the
Company's Form 10-K for the fiscal year ended May 31, 2016. Should
one or more of these risks or uncertainties materialize adversely,
or should underlying assumptions or estimates prove incorrect,
actual results may vary materially from those described.
These events and uncertainties are difficult or impossible to
predict accurately and many are beyond the Company's control.
The Company assumes no obligation to update any forward-looking
statements to reflect events or circumstances after the date of
such statements or to reflect the occurrence of anticipated or
unanticipated events. For additional information, see the comments
included in AAR's filings with the Securities and Exchange
Commission.
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SOURCE AAR