WOOD DALE, Ill., Nov. 5, 2014 /PRNewswire/ -- David P.
Storch, Chairman and Chief Executive Officer of AAR CORP. (NYSE:
AIR), has been named to the President's Advisory Council on Doing
Business in Africa, a 15-member
panel of private sector business leaders charged with helping the
Administration strengthen commercial engagement between
the United States and Africa.
Storch is the only member of the council leading a company
focused solely on aviation. He was chosen for AAR's experience
in Africa including a five-year,
multimillion-dollar contract with Kenya Airways, which was secured
with the support of the U.S. Commerce Department and has helped to
progress AAR's expansion across the continent.
"I want to thank Secretary Penny
Pritzker for this opportunity to help develop strategies and
identify opportunities to invest in this emerging market," Storch
said. "And I look forward to working with this esteemed group of
business leaders."
The council also will provide information, analysis, and
recommendations on creating jobs in the
United States and Africa
through trade and investment; building lasting commercial
partnerships between the U.S. and African private sectors; and
facilitating U.S. business participation in Africa's infrastructure development.
"U.S Government and private sector leaders see tremendous
opportunity in Africa, and they
want to seize it," said U.S. Secretary of Commerce
Penny Pritzker in the White House's
press announcement. "Africa
is home to six of the 10 fastest-growing economies in the world,
and the demand for U.S. goods and services on the continent is
high. The President's Advisory Council will be a critical part
of our efforts to strengthen our trade and investment ties across
Africa, so we can do more business
together."
The other 14 council members hand-picked to advise the President
and Secretary Pritzker on doing business in Africa include leaders from Walmart, GE,
Hershey, investment firms, global consulting and research firms,
consumer products, agriculture and energy companies,
specifically:
- Wale Adeosun – Founder and Chief Investment Officer, Kuramo
Capital Management
- Dominic Barton – Global Managing
Director, McKinsey & Company
- J.P. Bilbrey – President and
CEO, The Hershey Company
- Shelley Broader – President and
CEO, Walmart EMEA
- Teresa Clarke – Chairman and
CEO, Africa.com
- Melissa Cook – Founder and
Managing Director, African Sunrise Partners
- Karen Daniel – Chief Financial
Officer, Board Member, and Leader of Africa Growth Initiative,
Black & Veatch
- Peter Grauer – Chairman,
Bloomberg LP
- Jay Ireland – President and CEO,
GE Africa
- Kevon Makell – President and
CEO, SEWW Energy
- Edward Mathias – Managing
Director, Carlyle Group
- Martin Richenhagen – Chairman, President, and CEO, AGCO
- Dow Wilson – President and CEO, Varian Medical Systems
- Rahama Wright – Founder and
Executive Director, Shea Yeleen Health and Beauty
For more information, please visit www.trade.gov/pac-dbia.
About AAR
AAR is a global aerospace and defense
contractor that employs more than 6,000 people in 17 countries.
Based in Wood Dale, Illinois, AAR
supports commercial, government and defense customers through two
operating segments: Aviation Services and Technology Products.
AAR's services include inventory management and parts distribution;
aircraft maintenance, repair and overhaul; and expeditionary
airlift. AAR's products include cargo systems and containers;
mobility systems and shelters; advanced aerostructures; and command
and control systems. 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, 2014. 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.
SOURCE AAR CORP.