TransDigm Announces Kevin Stein as President and CEO and W. Nicholas Howley as Executive Chairman, Appointment of New Board Members

CLEVELAND, April 30, 2018 /PRNewswire/ -- TransDigm Group Incorporated (NYSE: TDG) (the "Company") announced today that its Board of Directors has elected Kevin Stein as President and Chief Executive Officer and W. Nicholas (Nick) Howley as Executive Chairman.

Mr. Stein will be responsible for all operational and financial matters of the Company. His direct reports will include all operating Executive Vice Presidents as well as the Chief Financial Officer.

Mr. Howley will primarily focus his efforts on matters relating to capital allocation, mergers and acquisitions, overall corporate strategy, investor interactions and leadership of the Board of Directors.

As part of this organizational change, Mr. Stein and Mr. Howley have both modified and extended their employment agreements through 2024.

Mr. Stein joined TransDigm in 2014 as Chief Operating Officer of the Power Group businesses.  He has been the Company's President and Chief Operating Officer since 2016. Prior to joining TransDigm, he was employed at Precision Castparts Corporation as Executive Vice President and President of the Fasteners and Structural Castings businesses.  Previous responsibilities included President of the Cooper Bussman division of Cooper Industries, as well as General Manager of Tyco Electronics Raychem circuit protection business.  Mr. Stein holds a Bachelor of Science from Hobart College and a Masters degree and Ph.D. in Inorganic Chemistry from Stanford University.

Mr. Howley, along with Doug Peacock, was one of the two founders of TransDigm. Mr. Howley has been the CEO of TransDigm since 2001 and Chairman and CEO since 2003. Previously, he was President of TransDigm.

Mr. Howley stated, "We have been working toward this orderly transition for almost the last four years.  Kevin and I have worked well over this time as he learned our culture, implemented our proven processes, and helped create significant value for our shareholders. I look forward to continuing to assist him in his efforts. The Board and I believe strongly that Kevin will do an outstanding job as CEO. I am pleased that he and I can continue to work together to execute our consistent strategy and create long term intrinsic value for our shareholders."