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Curtiss-Wright CEO Lynn M. Bamford Assumes Additional Role of Chair of the Board of Directors
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
management
Rhea-AI Summary
Curtiss-Wright Corporation (NYSE: CW) announced that Lynn M. Bamford has succeeded David C. Adams as Chair of the Board of Directors effective May 5, 2022. Adams retires as Executive Chairman but remains on the Board. Bamford emphasized the company's commitment to its 'Pivot to Growth' strategy, aiming to enhance revenue and shareholder value. She acknowledged Adams' 22 years of service, highlighting his contribution to achieving top-quartile financial performance and shareholder value.
Positive
Lynn M. Bamford's elevation to Chair may provide fresh leadership perspectives.
Commitment to the 'Pivot to Growth' strategy aims to maximize revenue and free cash flow.
Negative
David C. Adams' retirement raises concerns about continuity in leadership.
DAVIDSON, N.C.--(BUSINESS WIRE)--
Curtiss-Wright Corporation (NYSE: CW) today announced that Chief Executive Officer Lynn M. Bamfordhas assumed the role of Chair of the Board of Directors, effective May 5, 2022.
As part of the formal transition plan announced in 2020, David C. Adams has retired from the Company as Executive Chairman and will continue as a member of the Board of Directors. The Company will continue to have an independent Lead Director preside over executive sessions of the Board.
“On behalf of our leadership team and our nearly 8,000 employees, I want to thank Dave for his steadfast dedication, service and leadership over his 22-year career with Curtiss-Wright,” said Lynn M. Bamford, Chair and CEO of Curtiss-Wright Corporation. “During his tenure, he was instrumental in advancing the One Curtiss-Wright vision, driving the business to achieve top-quartile financial metrics and producing tremendous value for our shareholders, customers and employees.”
Ms. Bamford continued, “As Curtiss-Wright’s new Chair, I look forward to delivering on the next phase of our journey through our Pivot to Growth strategy. The Board and I are highly confident about our Company's potential to maximize revenue, operating income and free cash flow growth, and to deliver consistent, long-term shareholder value.”
About Curtiss-Wright Corporation
Curtiss-Wright Corporation (NYSE:CW) is a global integrated business that provides highly engineered products, solutions and services mainly to Aerospace & Defense markets, as well as critical technologies in demanding Commercial Power, Process and Industrial markets. We leverage a workforce of 7,800 highly skilled employees who develop, design and build what we believe are the best engineered solutions to the markets we serve. Building on the heritage of Glenn Curtiss and the Wright brothers, Curtiss-Wright has a long tradition of providing innovative solutions through trusted customer relationships. For more information, visit www.curtisswright.com.
