TransDigm Announces Kevin Stein as President and CEO and W. Nicholas Howley as Executive Chairman, Appointment of New Board Members - Seite 2

Mr. Stein said, "I am excited for the opportunity to lead TransDigm going forward as its next President and Chief Executive Officer.  I am humbled by the trust and confidence the Board of Directors and Mr. Howley have shown in this decision.  TransDigm has an outstanding team around the globe and I am honored to be part of such a focused and successful aerospace company.  We look forward to continuing the exceptional value generating strategy that has been the hallmark of this organization since the beginning when Nick Howley and Doug Peacock founded TransDigm."

Appointment of New Board Members

The Company also announced today the appointment of Mr. Stein and Michele Santana to its Board of Directors.

Mr. Stein was elected to the Board in connection with his promotion to Chief Executive Officer.

Ms. Santana is Chief Financial Officer of Signet Jewelers (NYSE: SIG), a retail jeweler, a role in which she has served since 2014.  Prior to that Ms. Santana was Senior Vice President and Controller of Signet. Ms. Santana was deemed to be valuable to the Board because of her status and experience as a current chief financial officer of a large public company.  Ms. Santana is a certified public accountant and was determined to be an audit committee financial expert by the Board.    

Mr. Howley stated, "We are pleased that Michele has agreed to become a member of our Board. We think it's important for the Board to include a current public company chief financial officer and Michele's particular financing and investor relations experience will make her a valuable contributor. We are also pleased to be taking important steps towards diversity on our Board of Directors."

The Board of Directors has determined that Ms. Santana is independent under applicable listing standards of the New York Stock Exchange and the rules and regulations of the Securities Exchange Commission. Ms. Santana has been appointed to the Company's Audit Committee and Nominating and Corporate Governance Committee.   

About TransDigm

TransDigm Group Incorporated, through its wholly-owned subsidiaries, is a leading global designer, producer and supplier of highly engineered aircraft components for use on nearly all commercial and military aircraft in service today. Major product offerings, substantially all of which are ultimately provided to end-users in the aerospace industry, include mechanical/electro-mechanical actuators and controls, ignition systems and engine technology, specialized pumps and valves, power conditioning devices, specialized AC/DC electric motors and generators, NiCad batteries and chargers, engineered latching and locking devices, rods and locking devices, engineered connectors and elastomers, cockpit security components and systems, specialized cockpit displays, aircraft audio systems, specialized lavatory components, seatbelts and safety restraints, engineered interior surfaces and related components, lighting and control technology, military personnel parachutes, high performance hoists, winches and lifting devices, and cargo loading, handling and delivery systems.