BERWYN,
Pa., April 25, 2022 /PRNewswire/ -- Triumph
Group, Inc. (NYSE:TGI) ("TRIUMPH"
or the "Company") today announced that Neal
J. Keating has joined its Board of Directors as an
independent director, effective immediately. With this addition,
TRIUMPH's board will be expanded
to nine directors, eight of whom are independent, and four of whom
have been appointed to the Board in the last four years.
Mr. Keating served as Chief Executive Officer and Chairman of
the Board of Kaman Corporation, an aerospace and defense company,
for 13 years. While at Kaman, he led the company's portfolio
reshaping, overseeing a significant increase in revenues. He was
previously Chief Operating Officer at Hughes Supply, an industrial
distribution business, until it was acquired by Home Depot in 2006,
and Chief Executive Officer of GKN Aerospace, a global aerospace
supplier, and a Board member for GKN plc, its parent. He also
served as Board member for AgustaWestland, a helicopter design and
manufacturing company. Earlier in his career, he spent more
than two decades at Rockwell Collins, an aerospace company, holding
roles of increasing responsibility, including EVP and Chief
Operating Officer, Commercial Systems. Mr. Keating is an
experienced board member, and currently serves on the boards of
Hubbell Inc., a publicly traded company, and Embry-Riddle Aeronautical University. Mr. Keating
received a degree in electrical engineering from the University of Illinois and an MBA from the
University of Chicago.
"We are pleased to welcome Neal to the TRIUMPH Board and are confident that his
strong corporate governance background and his deep expertise in
the aerospace and defense industry will make him a valuable board
member," said Daniel J. Crowley, the
Company's President, Chief Executive Officer & Chairman. "As we
focus on profitable growth as a recently streamlined organization,
the addition of Neal will serve the Board and Company well."
"As a Board, we regularly consider our composition and
prioritize board refreshment. The Board welcomes Neal's fresh
perspective and expects his industry experience and business acumen
to complement the existing skillsets on our board as we work to
enhance value for all shareholders," said William L. Mansfield, the Company's Lead
Independent Director.
TRIUMPH, headquartered in
Berwyn, Pennsylvania, designs,
engineers, manufactures, repairs, and overhauls a broad portfolio
of aerospace and defense systems and components. The company serves
the global aviation industry, including original equipment
manufacturers and the full spectrum of military and commercial
aircraft operators.
Forward Looking Statements
Statements in this release which are not historical facts are
forward-looking statements under the provisions of the Private
Securities Litigation Reform Act of 1995, including statements of
expectations about the Company's operations and transformation in
the future. All forward-looking statements involve risks and
uncertainties which could affect the Company's actual results and
could cause its actual results to differ materially from those
expressed in any forward-looking statements made by, or on behalf
of, the Company. Further information regarding the important
factors that could cause actual results to differ from projected
results can be found in Triumph Group's reports filed with the SEC,
including our Annual Report on Form 10-K for the fiscal year ended
March 31, 2020.
Widespread health developments, including the recent global
coronavirus (COVID-19), and the responses thereto (such as
voluntary and in some cases, mandatory quarantines as well as shut
downs and other restrictions on travel and commercial, social and
other activities) could adversely and materially affect, among
other things, the economic and financial markets and labor
resources of the countries in which we operate, our manufacturing
and supply chain operations, commercial operations and sales force,
administrative personnel, third-party service providers, business
partners and customers and the demand for our products, which could
result in a material adverse effect on our business, financial
conditions and results of operations.
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SOURCE Triumph Group