HEICO Corporation Announces Management Position Changes Consistent With Succession Plan
HEICO (NYSE:HEI) announced significant leadership changes effective May 1, 2025. Current Chairman and CEO Laurans A. Mendelson will transition to Executive Chairman, while his sons Eric A. Mendelson and Victor H. Mendelson will become Co-CEOs. The brothers, who have served as Co-Presidents since 2009, will retain their current roles leading the Flight Support Group (FSG) and Electronic Technologies Group (ETG) respectively.
The transition represents a planned succession strategy, formalizing existing operational dynamics. Under the Mendelsons' leadership since 1990, HEICO has grown from a $26 million revenue company to a global aerospace and defense leader with approximately $4 billion in revenue and a market capitalization of nearly $30 billion. The company operates 121 facilities across 15 countries and 29 U.S. states.
Notable achievements include FSG's growth from a $20 million single-product business to a major aerospace component manufacturer with 61 facilities, and ETG's expansion to 59 facilities providing mission-critical electronic systems. A $100,000 investment in HEICO when the Mendelsons took over has grown to over $100.2 million, representing a 22% compound annual growth rate.
HEICO (NYSE:HEI) ha annunciato importanti cambiamenti nella leadership a partire dal 1° maggio 2025. L'attuale Presidente e CEO Laurans A. Mendelson passerà al ruolo di Presidente Esecutivo, mentre i suoi figli Eric A. Mendelson e Victor H. Mendelson assumeranno la carica di Co-CEO. I fratelli, che ricoprono il ruolo di Co-Presidenti dal 2009, manterranno le loro responsabilità attuali alla guida rispettivamente del Flight Support Group (FSG) e dell'Electronic Technologies Group (ETG).
Questa transizione rappresenta una strategia di successione pianificata, formalizzando la dinamica operativa già esistente. Sotto la guida dei Mendelson dal 1990, HEICO è cresciuta da un'azienda con un fatturato di 26 milioni di dollari a un leader globale nei settori aerospaziale e della difesa con circa 4 miliardi di dollari di ricavi e una capitalizzazione di mercato di quasi 30 miliardi di dollari. L'azienda opera in 121 stabilimenti distribuiti in 15 paesi e 29 stati degli USA.
Tra i risultati più rilevanti si annovera la crescita del FSG, passato da un'attività con un solo prodotto e 20 milioni di dollari di fatturato a un importante produttore di componenti aerospaziali con 61 stabilimenti, e l'espansione dell'ETG a 59 strutture che forniscono sistemi elettronici critici per le missioni. Un investimento iniziale di 100.000 dollari in HEICO al momento dell'ingresso dei Mendelson è cresciuto fino a superare i 100,2 milioni, con un tasso di crescita annuale composto del 22%.
HEICO (NYSE:HEI) anunció cambios significativos en su liderazgo que entrarán en vigor el 1 de mayo de 2025. El actual presidente y CEO, Laurans A. Mendelson, pasará a ser presidente ejecutivo, mientras que sus hijos Eric A. Mendelson y Victor H. Mendelson asumirán como Co-CEOs. Los hermanos, que han sido copresidentes desde 2009, mantendrán sus roles actuales liderando respectivamente el Flight Support Group (FSG) y el Electronic Technologies Group (ETG).
Esta transición representa una estrategia de sucesión planificada que formaliza la dinámica operativa existente. Bajo el liderazgo de los Mendelson desde 1990, HEICO ha crecido de una empresa con ingresos de 26 millones de dólares a un líder global en aeroespacial y defensa con aproximadamente 4 mil millones de dólares en ingresos y una capitalización de mercado cercana a los 30 mil millones. La compañía opera 121 instalaciones en 15 países y 29 estados de EE.UU.
Entre los logros destacados se incluye el crecimiento del FSG, que pasó de ser un negocio con un solo producto y 20 millones de dólares en ingresos a un importante fabricante de componentes aeroespaciales con 61 instalaciones, y la expansión del ETG a 59 instalaciones que proveen sistemas electrónicos críticos para misiones. Una inversión inicial de 100,000 dólares en HEICO cuando los Mendelson asumieron ha crecido a más de 100.2 millones, representando una tasa anual compuesta del 22%.
HEICO (NYSE:HEI)는 2025년 5월 1일부로 중요한 리더십 변화를 발표했습니다. 현 회장 겸 CEO인 로런스 A. 멘델슨(Laurans A. Mendelson)은 집행 회장(Executive Chairman)으로 전환하며, 그의 아들 에릭 A. 멘델슨(Eric A. Mendelson)과 빅터 H. 멘델슨(Victor H. Mendelson)이 공동 CEO(Co-CEOs)가 됩니다. 2009년부터 공동 사장을 맡아온 형제는 각각 Flight Support Group(FSG)과 Electronic Technologies Group(ETG)을 계속 이끌 예정입니다.
이번 전환은 계획된 승계 전략으로, 기존의 운영 방식을 공식화하는 것입니다. 1990년부터 멘델슨 가족의 리더십 아래 HEICO는 연매출 2,600만 달러 규모의 기업에서 약 40억 달러 매출과 약 300억 달러의 시가총액을 가진 글로벌 항공우주 및 방위산업 선두주자로 성장했습니다. 회사는 15개국과 미국 29개 주에 걸쳐 121개의 시설을 운영하고 있습니다.
주요 성과로는 FSG가 단일 제품 2,000만 달러 규모에서 61개 시설을 갖춘 주요 항공우주 부품 제조사로 성장한 것과, ETG가 59개 시설에서 임무 핵심 전자 시스템을 제공하는 기업으로 확장한 점이 있습니다. 멘델슨 가족이 인수할 때 10만 달러를 투자한 HEICO 주식은 현재 1억 2백만 달러 이상으로 증가했으며, 연평균 복합 성장률은 22%에 달합니다.
HEICO (NYSE:HEI) a annoncé d'importants changements à la direction, effectifs au 1er mai 2025. Le président et CEO actuel, Laurans A. Mendelson, deviendra président exécutif, tandis que ses fils Eric A. Mendelson et Victor H. Mendelson prendront les fonctions de co-CEO. Les frères, qui sont co-présidents depuis 2009, conserveront leurs rôles actuels à la tête respectivement du Flight Support Group (FSG) et de l'Electronic Technologies Group (ETG).
Cette transition représente une stratégie de succession planifiée, formalisant la dynamique opérationnelle existante. Sous la direction des Mendelson depuis 1990, HEICO est passée d'une entreprise réalisant 26 millions de dollars de chiffre d'affaires à un leader mondial de l'aérospatiale et de la défense avec environ 4 milliards de dollars de revenus et une capitalisation boursière proche de 30 milliards. L'entreprise exploite 121 sites dans 15 pays et 29 États américains.
Parmi les réalisations notables, le FSG est passé d'une activité à un seul produit générant 20 millions de dollars à un important fabricant de composants aéronautiques avec 61 sites, et l'ETG s'est étendu à 59 sites fournissant des systèmes électroniques essentiels aux missions. Un investissement de 100 000 dollars dans HEICO au moment de la prise de contrôle par les Mendelson a atteint plus de 100,2 millions, soit un taux de croissance annuel composé de 22 %.
HEICO (NYSE:HEI) gab bedeutende Führungsänderungen bekannt, die am 1. Mai 2025 wirksam werden. Der derzeitige Vorsitzende und CEO Laurans A. Mendelson wird zum Executive Chairman wechseln, während seine Söhne Eric A. Mendelson und Victor H. Mendelson zu Co-CEOs ernannt werden. Die Brüder, die seit 2009 als Co-Präsidenten tätig sind, behalten ihre aktuellen Rollen als Leiter der Flight Support Group (FSG) bzw. der Electronic Technologies Group (ETG).
Der Übergang stellt eine geplante Nachfolgestrategie dar, die die bestehenden operativen Abläufe formalisiert. Unter der Führung der Mendelsons seit 1990 ist HEICO von einem Unternehmen mit 26 Millionen US-Dollar Umsatz zu einem globalen Marktführer in der Luft- und Raumfahrt sowie Verteidigung mit rund 4 Milliarden US-Dollar Umsatz und einer Marktkapitalisierung von fast 30 Milliarden US-Dollar gewachsen. Das Unternehmen betreibt 121 Standorte in 15 Ländern und 29 US-Bundesstaaten.
Zu den bemerkenswerten Erfolgen zählt das Wachstum der FSG von einem Einzelproduktgeschäft mit 20 Millionen US-Dollar Umsatz zu einem bedeutenden Hersteller von Luftfahrtkomponenten mit 61 Standorten sowie die Expansion der ETG auf 59 Standorte, die missionskritische elektronische Systeme bereitstellen. Eine Investition von 100.000 US-Dollar in HEICO zum Zeitpunkt der Übernahme durch die Mendelsons ist auf über 100,2 Millionen US-Dollar angewachsen, was einer jährlichen durchschnittlichen Wachstumsrate von 22 % entspricht.
- Demonstrated long-term value creation with $100,000 investment growing to $100.2 million (22% CAGR)
- Significant revenue growth from $26 million to $4 billion under current management
- Strong market position with $30 billion market capitalization
- Extensive global presence across 121 facilities in 15 countries
- Planned and orderly succession maintaining current successful management approach
- None.
Insights
HEICO's CEO succession represents a formalized transition within the founding family, maintaining strategic continuity while positioning for future leadership.
HEICO 's leadership transition represents a textbook example of thoughtful succession planning within a family-controlled public company. The elevation of Eric and Victor Mendelson to Co-CEOs formalizes an operational reality that has existed for years, with both executives having already demonstrated exceptional leadership within their respective divisions for decades.
What stands out is the deliberate, multi-year approach to this transition. Rather than a sudden announcement, this represents the culmination of a succession process that began when the sons became Co-Presidents in 2009, following years of running major divisions they each founded in the 1990s. This methodical approach minimizes disruption risk and provides important continuity signals to stakeholders.
The company's decentralized management structure appears fundamental to their success formula. As noted in the announcement, "HEICO's decentralized and entrepreneurial structure means that the Company relies on the business leaders at each HEICO subsidiary to fully manage their operations, which is where and how the magic happens." This philosophy transcends individual leadership titles and likely provides stability through this transition.
While co-CEO arrangements often face skepticism in governance circles, they can be particularly effective in family businesses where the executives have complementary skills and established working relationships. Eric and Victor's long history of collaboration and clear division of operational responsibilities (Flight Support Group and Electronic Technologies Group, respectively) suggests they've developed an effective partnership that should translate well to their expanded roles.
The continued involvement of Laurans Mendelson as Executive Chairman provides additional continuity and institutional knowledge during this transition phase, while allowing the next generation to fully assume operational leadership.
HEICO's leadership transition maintains the management team that delivered 22% annual returns, suggesting strategic and operational continuity for investors.
The leadership transition at HEICO appears designed to maintain the strategic approach that has generated exceptional shareholder returns. Under the Mendelson family's leadership since 1990, HEICO has achieved remarkable financial performance, growing from
The transition reflects a formalization of existing operational roles rather than a fundamental shift in management philosophy or strategic direction. Eric and Victor Mendelson have already been instrumental in the company's growth trajectory, having founded and led HEICO's two main operating segments for decades while serving as Co-Presidents since 2009. Their divisions have demonstrated impressive expansion through both organic growth and acquisitions.
The Flight Support Group under Eric Mendelson has transformed from a
HEICO's decentralized business model, which empowers subsidiary leaders to fully manage their operations, remains unchanged by this transition. This entrepreneurial approach has been central to the company's ability to integrate acquisitions successfully while maintaining innovation and customer responsiveness.
For investors, this succession represents continuity in the management team that has delivered extraordinary historical returns. The company's extensive global footprint, with 121 facilities across 15 countries and 29 U.S. states, positions it well for continued growth in aerospace, defense, space, medical, telecommunications and electronics markets.
Laurans A. Mendelson to become Executive Chairman; Eric A. Mendelson and Victor H. Mendelson to become Co-CEOs
HOLLYWOOD, FL AND MIAMI, FL / ACCESS Newswire / April 21, 2025 / HEICO Corporation (NYSE:HEI)(NYSE:HEI.A) today announced that Laurans A. Mendelson, its Chairman and Chief Executive Officer, will become the Company's Executive Chairman of the Board of Directors and that Eric A. Mendelson and Victor H. Mendelson will become the Company's Co-Chief Executive Officers effective on May 1, 2025.
Eric and Victor Mendelson have served as the Company's Co-Presidents since 2009. In addition, Eric Mendelson has served as President & CEO of the Company's Flight Support Group ("FSG") since founding it in 1993 and Victor Mendelson has served as President & CEO of the Company's Electronic Technologies Group ("ETG") since founding it in 1996. They will continue in these roles, in addition to serving as HEICO's Co-CEOs.
As Executive Chairman of the Board, Laurans Mendelson will continue leading the Company's Board of Directors, his deep involvement with strategic direction and planning, as well as overseeing key investor and constituency relationships.
The transition is consistent with the Company's long-time internal, orderly and planned CEO succession approach as annually reviewed by the Company's Board of Directors. The transition has been occurring internally over many years and reflects much of the functional roles Eric and Victor Mendelson have assumed over time.
Laurans, Eric and Victor Mendelson jointly commented, "The position changes are more titular than practical, given that we have operated the Company together, often interchangeably, for decades, with our Team Members, customers, shareholders and others working extensively with us-both individually and collectively- since our involvement with HEICO commenced some 35 years ago.
More notably, HEICO's decentralized and entrepreneurial structure means that the Company relies on the business leaders at each HEICO subsidiary to fully manage their operations, which is where and how the magic happens. HEICO's success results from the remarkable efforts of our subsidiaries and their Team Members. This will remain the case and we are as excited today as we were 35 years ago by what this powerful structure produces."
Mark H. Hildebrandt, Chairman of the Board's Governance Committee, commented, "The transitions are consistent with the Company's long-planned internal executive succession arrangement as overseen by the Company's Board of Directors. Laurans, Eric and Victor Mendelson together took over HEICO's management in 1990 after becoming the Company's largest shareholders. Since then, they've jointly overseen HEICO, assigning duties and responsibilities as warranted, with the three Mendelsons operating as a team of partners wherein they unanimously concurred on major decisions and have been equally well informed about the Company's operations, acquisitions and strategic selections, while devoting their greatest individual attention to specific responsibilities."
The Board and all three Mendelsons unanimously felt it important to better match titles with daily responsibilities and activities, which this transition accomplishes, while appropriately planning for HEICO's future."
Eric Mendelson founded the FSG in 1993 and has led it since then. During this time, the FSG has grown from an effectively single-product business in a single location with sales approximating
Victor Mendelson founded the ETG in 1996 and has led it since then. He also served as the Company's General Counsel for 18 years and was Chief Operating Officer of the Company's former MediTek Health Corp. subsidiary. Under his leadership, the ETG has grown from scratch starting with its first acquisition in the year of its founding to becoming a leading provider of highly engineered electronic and other components and sub-systems used in aviation, defense, medical space and other equipment. The ETG's products are mission-critical items found on thousands of end systems. The ETG currently operates 59 facilities in 8 countries and 19 states in the United States while employing approximately 5,400 Team Members. The ETG has completed 55 acquisitions under Victor Mendelson's leadership, with simultaneous involvement in the FSG's acquisitions. A HEICO Corporation Director since 1996, he received his AB degree from Columbia University in the City of New York and his JD degree from the University of Miami Law School.
Laurans Mendelson has served as HEICO's Chairman and Chief Executive Officer since 1990, and was also the Company's President until 2009, when Eric and Victor Mendelson became Co-Presidents. Since 1990, HEICO has grown from a troubled company with
Receiving both his AB and MBA degrees from Columbia University in the City of New York, he is a known as a prominent international business leader, having been recognized for the impact he's had on the aerospace industry and international commerce with awards such as the Living Legend of Aviation Award, the Howard Hughes Memorial Award, the John Jay Award from Columbia College, as well as being named to the International Air and Space Hall of Fame and being named a Chevalier in France's Legion d'Honneur.
HEICO Corporation is engaged primarily in the design, production, servicing and distribution of products and services to certain niche segments of the aviation, defense, space, medical, telecommunications and electronics industries through its Hollywood, Florida-based Flight Support Group and its Miami, Florida-based Electronic Technologies Group. HEICO's customers include a majority of the world's airlines and overhaul shops, as well as numerous defense and space contractors and military agencies worldwide, in addition to medical, telecommunications and electronics equipment manufacturers. For more information about HEICO, please visit our website at https://www.heico.com.
Contact:
Victor H. Mendelson (305) 374-1745 ext. 7590
Carlos L. Macau, Jr. (954) 987-4000 ext. 7570
SOURCE: HEICO
View the original press release on ACCESS Newswire
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