John M. Holmes Named Chairman of the Board of Directors of AAR CORP.
AAR CORP. (NYSE: AIR) announced the appointment of John M. Holmes as Chairman of the Board, succeeding David P. Storch, who served for 18 years. Holmes, who has been with AAR since 2001 and CEO since 2018, will retain his role as President and CEO. Under his leadership, the company has notably increased sales and profitability, even amid the COVID-19 pandemic. The transition marks a significant milestone as Holmes aims to drive growth while upholding AAR's core values.
- John M. Holmes appointed as Chairman and retains CEO role, ensuring continuity in leadership.
- Holmes has led AAR to substantial sales growth and profitability, demonstrating effective management.
- Transition in leadership raises concerns about potential experience gaps in the Board.
Wood Dale, Illinois, Jan. 11, 2023 (GLOBE NEWSWIRE) -- AAR CORP. (NYSE: AIR), a leading provider of aviation services to commercial and government operators, MROs, and OEMs, today announced that John M. Holmes, President and Chief Executive Officer of AAR has been named Chairman of the Board of Directors following the retirement of David P. Storch, the Company’s Chairman for 18 years. Holmes will continue as President and Chief Executive Officer of the Company.
Holmes joined AAR in 2001 as Director of Mergers and Acquisitions. In 2003, Holmes moved into operations, becoming General Manager of AAR’s Parts Supply business and progressively assuming responsibility of other businesses before being appointed as President and Chief Operating Officer in 2017. In 2018, he was named President and Chief Executive Officer of AAR, the third since the company’s founding in 1955.
Under Holmes’s leadership, AAR has achieved substantial growth in sales and profitability, while successfully navigating the Company through the COVID-19 pandemic. As Chairman, Holmes will focus on strategies to drive continued growth while maintaining the Company’s strong culture and core values.
Storch, the second of the Company’s only three CEOs, has served as a member of the Board since 1989 and as Chairman of the Board of AAR since 2005. He retired as Chief Executive Officer in 2018. Under Storch’s leadership, the Company grew to the leading independent provider of aviation services globally. Mr. Storch instilled a culture of integrity, quality, innovation, execution, customer focus, and entrepreneurship. These core values serve as a lasting foundation for the continued success and growth of AAR.
About AAR
AAR is a global aerospace and defense aftermarket solutions company with operations in over 20 countries. Headquartered in the Chicago area, AAR supports commercial and government customers through two operating segments: Aviation Services and Expeditionary Services. Additional information can be found at aarcorp.com.
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