CPI Aerostructures Appoints Philip Passarello to Leadership Team as Chief Financial Officer
CPI Aerostructures (NYSE American: CVU) has appointed Philip Passarello as its new Chief Financial Officer. Passarello brings over 20 years of experience in financial management, government compliance, and strategic forecasting. He previously served as Vice President of Finance at TTM Technologies and held various executive positions at Telephonics This appointment aligns with CPI Aero's goal of achieving best-in-class financial operations and strengthening its aerospace leadership team.
CPI Aero is a U.S. manufacturer of structural assemblies for fixed wing aircraft, helicopters, and airborne Intelligence Surveillance and Reconnaissance pod systems. The company operates as a Tier 1 supplier to aircraft OEMs or a Tier 2 subcontractor to major Tier 1 manufacturers in the commercial aerospace and national security markets. Additionally, CPI Aero serves as a prime contractor to the U.S. Department of Defense, primarily the Air Force.
CPI Aerostructures (NYSE American: CVU) ha nominato Philip Passarello come nuovo Chief Financial Officer. Passarello porta con sé oltre 20 anni di esperienza nella gestione finanziaria, nella conformità alle normative governative e nella previsione strategica. In precedenza ha ricoperto il ruolo di Vice Presidente della Finanza presso TTM Technologies e ha occupato varie posizioni esecutive in Telephonics. Questa nomina è in linea con l'obiettivo di CPI Aero di raggiungere operazioni finanziarie di livello superiore e rafforzare il suo team di leadership nel settore aerospaziale.
CPI Aero è un produttore statunitense di assemblaggi strutturali per aerei ad ala fissa, elicotteri e sistemi di pod per intelligence, sorveglianza e ricognizione aerea. L'azienda opera come fornitore di primo livello per i produttori di aeromobili (OEM) o come subappaltatore di secondo livello per i principali produttori di primo livello nei mercati aerospaziali commerciali e della sicurezza nazionale. Inoltre, CPI Aero funge da appaltatore principale per il Dipartimento della Difesa degli Stati Uniti, principalmente per l'Air Force.
CPI Aerostructures (NYSE American: CVU) ha nombrado a Philip Passarello como su nuevo Director Financiero. Passarello aporta más de 20 años de experiencia en gestión financiera, cumplimiento gubernamental y previsión estratégica. Anteriormente, se desempeñó como Vicepresidente de Finanzas en TTM Technologies y ocupó varios cargos ejecutivos en Telephonics. Este nombramiento se alinea con el objetivo de CPI Aero de alcanzar operaciones financieras de clase mundial y fortalecer su equipo de liderazgo en el sector aeroespacial.
CPI Aero es un fabricante estadounidense de ensamblajes estructurales para aviones de ala fija, helicópteros y sistemas de pod de inteligencia, vigilancia y reconocimiento aéreo. La empresa actúa como proveedor de nivel 1 para los OEM de aeronaves o como subcontratista de nivel 2 para importantes fabricantes de nivel 1 en los mercados aeroespaciales comerciales y de seguridad nacional. Además, CPI Aero actúa como contratista principal para el Departamento de Defensa de EE. UU., principalmente para la Fuerza Aérea.
CPI Aerostructures (NYSE American: CVU)는 Philip Passarello를 새로운 최고 재무 책임자로 임명했습니다. Passarello는 재무 관리, 정부 준수 및 전략적 예측 분야에서 20년 이상의 경력을 가지고 있습니다. 그는 TTM Technologies의 재무 부사장을 역임했으며 Telephonics에서 다양한 임원 직책을 맡았습니다. 이번 임명은 CPI Aero가 최고 수준의 재무 운영을 달성하고 항공 우주 리더십 팀을 강화하려는 목표와 일치합니다.
CPI Aero는 고정익 항공기, 헬리콥터 및 공중 정보 감시 및 정찰 포드 시스템을 위한 구조 조립체를 제조하는 미국 기업입니다. 이 회사는 항공기 OEM에 대한 1차 공급업체 또는 주요 1차 제조업체에 대한 2차 하청업체로 운영됩니다. 또한 CPI Aero는 미국 국방부의 주요 계약업체로, 주로 공군을 대상으로 합니다.
CPI Aerostructures (NYSE American: CVU) a nommé Philip Passarello comme nouveau Directeur Financier. Passarello apporte plus de 20 ans d'expérience en gestion financière, conformité gouvernementale et prévisions stratégiques. Il a précédemment occupé le poste de Vice-Président des Finances chez TTM Technologies et a occupé divers postes exécutifs chez Telephonics. Cette nomination est en ligne avec l'objectif de CPI Aero d'atteindre des opérations financières de premier ordre et de renforcer son équipe dirigeante dans le secteur aérospatial.
CPI Aero est un fabricant américain d'assemblages structurels pour avions à voilure fixe, hélicoptères et systèmes de pods d'intelligence, de surveillance et de reconnaissance aériens. L'entreprise opère en tant que fournisseur de premier niveau pour les OEM d'avions ou en tant que sous-traitant de deuxième niveau pour les principaux fabricants de premier niveau sur les marchés de l'aérospatiale commerciale et de la sécurité nationale. En outre, CPI Aero agit en tant qu'entrepreneur principal pour le département de la Défense des États-Unis, principalement pour l'Armée de l'air.
CPI Aerostructures (NYSE American: CVU) hat Philip Passarello zu seinem neuen Chief Financial Officer ernannt. Passarello bringt über 20 Jahre Erfahrung im Finanzmanagement, in der Einhaltung von Vorschriften und in der strategischen Planung mit. Zuvor war er Vizepräsident der Finanzen bei TTM Technologies und hatte verschiedene Führungspositionen bei Telephonics inne. Diese Ernennung steht im Einklang mit dem Ziel von CPI Aero, erstklassige Finanzoperationen zu erreichen und sein Führungsteam im Bereich Luft- und Raumfahrt zu stärken.
CPI Aero ist ein US-Hersteller von Strukturkomponenten für Starrflügelflugzeuge, Hubschrauber und Systeme zur Luftaufklärung, Überwachung und Aufklärung. Das Unternehmen fungiert als Tier-1-Zulieferer für Flugzeug-OEMs oder als Tier-2-Unterauftragnehmer für bedeutende Tier-1-Hersteller in den Märkten der zivilen Luftfahrt und der nationalen Sicherheit. Zudem fungiert CPI Aero als Hauptauftragnehmer für das US-Verteidigungsministerium, hauptsächlich für die Air Force.
- Appointment of experienced CFO with 20+ years in financial management
- New CFO has expertise in government compliance and strategic forecasting
- Alignment with company's goal of achieving best-in-class financial operations
- Strengthening of aerospace leadership team
- None.
EDGEWOOD, N.Y., Aug. 20, 2024 (GLOBE NEWSWIRE) -- CPI Aerostructures, Inc. (“CPI Aero®” or the “Company”) (NYSE American: CVU) today announced that it has appointed Philip Passarello to the position of Chief Financial Officer.
Mr. Passarello has extensive experience in all aspects of financial functions including accounting, financial reporting, audit and compliance, treasury, and financial planning and analysis. His career spans more than 20 years in financial management, government compliance, strategic forecasting and systems implementation.
Prior to joining CPI Aero, Mr. Passarello served as Vice President of Finance for TTM Technologies, a Printed Circuit Board and Aerospace and Defense supplier where he was responsible for the financial functions and operational partnering for multiple locations comprising the Integrated Electronics business. TTM acquired Telephonics Corporation in June 2022 where he held various managerial and executive level positions for over 15 years. His experiences at Telephonics spanned multiple facets including system implementation and integration, strategic planning, analytics, business combinations and divestitures, process improvements, financial reporting and all areas of financial management. Earlier in his career, he spent 5 years at KPMG within their audit practice primarily focused on public companies. Philip holds a Bachelor of Business Administration degree in Accounting from Dowling College.
“The appointment of Philip Passarello aligns with our objectives of achieving best-in-class financial operations while augmenting CPI Aero's experienced aerospace leadership team. His proven record and leadership style will strengthen CPI Aero’s Finance team and we look forward to his contributions to our business,” said Dorith Hakim, President and CEO. “I want to personally thank Andrew Davis for his leadership and dedication to the Company since joining CPI Aero in 2021. We wish him all the best in his future endeavors.”
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 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 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 and subsequent reports 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 | CPI Aerostructures, Inc. |
| LHA Investor Relations | Philip Passarello |
| Jody Burfening | Chief Financial Officer |
| (212) 838-3777 | (631) 586-5200 |
| cpiaero@lhai.com | ppassarello@cpiaero.com |
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