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CPI Aerostructures Appoints Aerospace Industry Executive Carey Bond as Chairman of its Board of Directors

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CPI Aerostructures has appointed Carey Bond as the new Chairman of its Board of Directors, effective immediately. Bond takes over from Terry Stinson, who steps down after six years to become Vice-Chairman, continuing his strategic input. Bond, who joined CPI Aero's Board in 2016 and served as Vice-Chairman, has extensive aerospace industry experience with executive roles at Sikorsky Aircraft, Bell Helicopter Textron, and other firms. He holds an MBA from Texas Christian University. CEO Dorith Hakim expressed confidence in Bond's leadership to strengthen CPI Aero's fundamentals and increase shareholder value.

CPI Aero is a U.S. manufacturer of structural assemblies for both commercial and military defense aerospace markets. It serves as a Tier 1 supplier to aircraft OEMs, a Tier 2 subcontractor to major Tier 1 manufacturers, and a prime contractor to the U.S. Department of Defense, primarily the Air Force. The company also offers engineering, program management, supply chain management, and MRO services.

CPI Aerostructures ha nominato Carey Bond nuovo Presidente del Consiglio di Amministrazione, con effetto immediato. Bond subentra a Terry Stinson, che si dimette dopo sei anni per diventare Vice-Presidente, continuando a fornire il suo contributo strategico. Bond, che è entrato a far parte del Consiglio di CPI Aero nel 2016 e ha ricoperto il ruolo di Vice-Presidente, vanta una vasta esperienza nell'industria aerospaziale con ruoli dirigenziali in Sikorsky Aircraft, Bell Helicopter Textron e altre aziende. Ha conseguito un MBA presso la Texas Christian University. Il CEO Dorith Hakim ha espresso fiducia nella leadership di Bond per rafforzare le basi di CPI Aero e aumentare il valore per gli azionisti.

CPI Aero è un produttore statunitense di assemblaggi strutturali sia per il mercato aerospaziale commerciale che per quello della difesa militare. Funziona come fornitore di Tier 1 per i produttori di aerei OEM, come subappaltatore di Tier 2 per i principali produttori di Tier 1 e come contraente principale per il Dipartimento della Difesa degli Stati Uniti, principalmente per l'Air Force. L'azienda offre anche servizi di ingegneria, gestione dei programmi, gestione della catena di approvvigionamento e servizi di manutenzione, riparazione e revisione (MRO).

CPI Aerostructures ha nombrado a Carey Bond como el nuevo Presidente de su Junta Directiva, con efecto inmediato. Bond asume el cargo de Terry Stinson, que se retira después de seis años para convertirse en Vicepresidente, continuando con su aporte estratégico. Bond, quien se unió a la Junta de CPI Aero en 2016 y se desempeñó como Vicepresidente, tiene una amplia experiencia en la industria aeroespacial con roles ejecutivos en Sikorsky Aircraft, Bell Helicopter Textron y otras empresas. Posee un MBA de la Texas Christian University. El CEO Dorith Hakim expresó confianza en el liderazgo de Bond para fortalecer los fundamentos de CPI Aero y aumentar el valor para los accionistas.

CPI Aero es un fabricante estadounidense de ensamblajes estructurales para los mercados aeroespaciales comerciales y de defensa militar. Actúa como proveedor de Nivel 1 para los fabricantes de aviones OEM, como subcontratista de Nivel 2 para los principales fabricantes de Nivel 1, y como contratista principal para el Departamento de Defensa de EE.UU., principalmente la Fuerza Aérea. La empresa también ofrece servicios de ingeniería, gestión de programas, gestión de la cadena de suministro y servicios de MRO.

CPI AerostructuresCarey Bond를 새로운 이사회 의장으로 즉시 임명했습니다. Bond는 6년간의 임기를 마치고 부회장직으로 물러나는 Terry Stinson의 뒤를 잇습니다. Bond는 2016년 CPI Aero 이사회에 합류하여 부회장을 역임했으며, Sikorsky Aircraft, Bell Helicopter Textron 및 기타 회사에서 경영진으로서의 폭넓은 항공우주 산업 경험을 가지고 있습니다. 그는 Texas Christian University에서 MBA를 취득했습니다. CEO Dorith Hakim은 Bond의 리더십이 CPI Aero의 기초를 강화하고 주주 가치를 증가시킬 것이라는 확신을 표명했습니다.

CPI Aero는 상업 및 군사 방위 항공 우주 시장을 위한 구조 조립체를 제조하는 미국 회사입니다. 항공기 OEM에 Tier 1 공급업체로, 주요 Tier 1 제조업체에 Tier 2 하청업체로, 미국 국방부(주로 공군)에 주계약업체로 활동하고 있습니다. 회사는 또한 엔지니어링, 프로그램 관리, 공급망 관리 및 MRO 서비스를 제공합니다.

CPI Aerostructures a nommé Carey Bond nouveau Président de son Conseil d'Administration, avec effet immédiat. Bond succède à Terry Stinson, qui démissionne après six ans pour devenir Vice-Président, continuant à apporter son expertise stratégique. Bond, qui a rejoint le Conseil de CPI Aero en 2016 et a occupé le poste de Vice-Président, possède une vaste expérience dans l'industrie aérospatiale avec des rôles exécutifs chez Sikorsky Aircraft, Bell Helicopter Textron et d'autres entreprises. Il détient un MBA de la Texas Christian University. Le PDG Dorith Hakim a exprimé sa confiance dans le leadership de Bond pour renforcer les fondations de CPI Aero et accroître la valeur pour les actionnaires.

CPI Aero est un fabricant américain d'assemblages structurels pour les marchés aérospatiaux commerciaux et de défense militaire. Il agit en tant que fournisseur de niveau 1 pour les fabricants d'avions OEM, comme sous-traitant de niveau 2 pour les principaux fabricants de niveau 1, et comme contractant principal pour le Département de la Défense des États-Unis, principalement l'Armée de l'air. L'entreprise propose également des services d'ingénierie, de gestion de programmes, de gestion de la chaîne d'approvisionnement et des services de MRO.

CPI Aerostructures hat Carey Bond zum neuen Vorsitzenden des Vorstands ernannt, was sofort in Kraft tritt. Bond tritt die Nachfolge von Terry Stinson an, der nach sechs Jahren als Vizevorsitzender zurücktritt und weiterhin strategische Impulse gibt. Bond, der 2016 in den Vorstand von CPI Aero eintrat und als Vizevorsitzender diente, verfügt über umfassende Erfahrungen in der Luft- und Raumfahrtindustrie mit Führungspositionen bei Sikorsky Aircraft, Bell Helicopter Textron und anderen Unternehmen. Er hat einen MBA von der Texas Christian University. CEO Dorith Hakim äußerte Vertrauen in Bonds Leadership zur Stärkung der Grundlagen von CPI Aero und zur Steigerung des Shareholder-Values.

CPI Aero ist ein US-amerikanischer Hersteller von Strukturbauteilen für den kommerziellen Luft- und Raumfahrtmarkt sowie den militärischen Verteidigungssektor. Er fungiert als Tier-1-Lieferant für Flugzeug-OEMs, als Tier-2-Unterauftragnehmer für bedeutende Tier-1-Hersteller und als Hauptauftragnehmer für das US-Verteidigungsministerium, hauptsächlich für die Luftwaffe. Das Unternehmen bietet zudem Ingenieurdienstleistungen, Programmverwaltung, Lieferkettenmanagement und MRO-Dienste an.

Positive
  • Carey Bond's extensive aerospace industry experience is expected to bring fresh perspectives and strengthen leadership.
  • Terry Stinson will continue to contribute strategic insights as Vice-Chairman.
Negative
  • Potential concerns about continuity and experience gaps due to the management change.

EDGEWOOD, N.Y., Jan. 06, 2025 (GLOBE NEWSWIRE) -- CPI Aerostructures, Inc. (“CPI Aero®” or the “Company”) (NYSE American: CVU), a leading manufacturer of structural assemblies in both the commercial and military defense aerospace markets, announced today that it has appointed Aerospace industry executive Carey Bond as Chairman of its Board of Directors effective immediately. Mr. Bond succeeds Terry Stinson, who has stepped down from the role in a planned succession after 6 years of service and after leading CPI through some of the most complex times in our industry.

Mr. Stinson will remain on CPI Aero’s Board of Directors as Vice-Chairman and will continue to share his strategic insights and governance experience with the Company.

Mr. Bond, previously Vice-Chairman of CPI Aero’s Board of Directors, joined CPI Aero’s Board in 2016. He brings a wealth of experience in the Aerospace industry to CPI Aero, having previously held executive leadership positions at Sikorsky Aircraft, Bell Helicopter Textron, PZL Mielec Aircraft Company, Shanghai Sikorsky Aircraft Company and Eclipse Aerospace. Mr. Bond holds a Master of Business Administration from Texas Christian University. “Terry and I have successfully worked together several times over the last 30 plus years in Aerospace. He has always set a high bar, and I know with the commitment of our Board and Management team, we will continue to strengthen CPI Aero’s fundamentals and increase shareholder value,” said Carey Bond, Chairman of CPI Aero.

“Terry Stinson has played a pivotal role in shaping CPI Aero's success, and we are grateful for his dedication and contributions,” said Dorith Hakim, Chief Executive Officer of CPI Aero. “We are confident that Carey Bond will lead the Board with exceptional vision and expertise as we navigate the next chapter of our growth.”

About CPI Aero: CPI Aero is a U.S. manufacturer of structural assemblies for fixed wing aircraft, helicopters and airborne Intelligence Surveillance and Reconnaissance pod systems in both the commercial aerospace and national security markets. Within the global aerostructure supply chain, CPI Aero is either a Tier 1 supplier to aircraft OEMs or a Tier 2 subcontractor to major Tier 1 manufacturers. CPI Aero also is a prime contractor to the U.S. Department of Defense, primarily the Air Force. In conjunction with its assembly operations, CPI Aero provides engineering, program management, supply chain management, and MRO services.

Forward-looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included or incorporated in this press release are forward-looking statements. The Company does not guarantee that it will actually achieve the plans, intentions or expectations disclosed in its forward-looking statements and you should not place undue reliance on the Company’s forward-looking statements.

Forward-looking statements involve risks and uncertainties, and actual results could vary materially from these forward-looking statements. There are a number of important factors that could cause the Company’s actual results to differ materially from those indicated or implied by its forward-looking statements, including those important factors set forth under the caption “Risk Factors” in the Company’s Annual Report on Form 10-K for the period ended December 31, 2023 filed with the Securities and Exchange Commission. Although the Company may elect to do so at some point in the future, the Company does not assume any obligation to update any forward-looking statements and it disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

CPI Aero® is a registered trademark of CPI Aerostructures, Inc. For more information, visit www.cpiaero.com, and follow us on Twitter @CPIAERO.

Contacts: 
Investor Relations Counsel
LHA Investor Relations
Jody Burfening
(212) 838-3777
cpiaero@lhai.com

CPI Aerostructures, Inc.
Philip Passarello
Chief Financial Officer
(631) 586-5200
ppassarello@cpiaero.com
www.cpiaero.com

FAQ

Who is the new Chairman of CPI Aerostructures' Board of Directors?

Carey Bond has been appointed as the new Chairman of CPI Aerostructures' Board of Directors.

When did Carey Bond join CPI Aerostructures' Board of Directors?

Carey Bond joined CPI Aerostructures' Board of Directors in 2016.

What does the management change mean for CVU shareholders?

The management change is expected to bring fresh perspectives and strengthen leadership, which may increase shareholder value.

What is CPI Aerostructures' role in the aerospace industry?

CPI Aerostructures manufactures structural assemblies for commercial and military defense aerospace markets and serves as a Tier 1 supplier, Tier 2 subcontractor, and a prime contractor to the U.S. Department of Defense.

What experience does Carey Bond bring to CPI Aerostructures?

Carey Bond has held executive positions at Sikorsky Aircraft, Bell Helicopter Textron, and other aerospace companies.

CPI Aerostructures, Inc.

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