Kaman Appoints Carroll K. Lane President of Its Air Vehicles and Precision Products Divisions

Rhea-AI Summary

Kaman Corporation (NYSE: KAMN) announced the appointment of Carroll K. Lane as Senior Vice President and President of its Air Vehicles and Precision Products divisions. Lane comes from Pratt & Whitney, where he led commercial engines and has extensive experience in P&L management and strategic planning. He succeeds Darlene Smith, who is retiring. Lane's leadership is expected to strengthen Kaman's growth strategies in precision products and autonomous flight systems, enhancing offerings for military and commercial customers.

Positive

• Appointment of Carroll K. Lane brings extensive industry experience from Pratt & Whitney.
• Lane's background in P&L management and strategic planning is expected to enhance business operations.
• Expected leadership change may positively impact growth strategies for precision products and air vehicles.

Negative

• Transition may create initial disruption during leadership change.

BLOOMFIELD, Conn.--(BUSINESS WIRE)-- Kaman Corporation (NYSE: KAMN) announced today that Carroll K. Lane has been appointed a Senior Vice President of Kaman Corporation and President of its Air Vehicles and Precision Products divisions. Mr. Lane joins Kaman from Pratt & Whitney where he was the President of Commercial Engines and led the development, program management, and aftermarket operations of the company’s portfolio of large commercial engines. He succeeds Darlene Smith who is retiring at the end of the year.

Mr. Lane has expertise in P&L management, strategic planning, and investor relations and spent close to a decade at United Technologies Corporation (UTC), now Raytheon Technologies Corporation. Prior to leading Pratt & Whitney’s Commercial Engines business, Mr. Lane served in positions of increasing responsibility with UTC, including Vice President of Investor Relations, Vice President of Pratt & Whitney’s Commercial Engines Aftermarket organization and as a corporate strategy executive. Prior to joining UTC, Mr. Lane was a Director with CSP Associates, an Aerospace & Defense advisory firm in Cambridge, MA.

“Carroll’s strong leadership, track record, and expertise within the Aerospace and Defense industries uniquely positions him to lead our Air Vehicles and Precision Products businesses as we look toward executing on the key growth strategies for our precision products and air vehicles businesses.” stated Ian K. Walsh, President and Chief Executive Officer. “We are delighted to have Carroll join our leadership team and I look forward to working with him as we continue to position our precision products and new autonomous flight systems capabilities to be best in class for our warfighters and commercial customers around the world.”

Mr. Lane holds an M.B.A. from Harvard Business School and a B.A. from Williams College. He also served in the United States Marine Corps as a Naval Aviator.

About Kaman Corporation

Kaman Corporation, founded in 1945 by aviation pioneer Charles H. Kaman, and headquartered in Bloomfield, Connecticut, conducts business in the aerospace & defense, industrial, and medical markets. Kaman produces and markets proprietary aircraft bearings and components; super precision, miniature ball bearings; proprietary spring energized seals, springs and contacts; complex metallic and composite aerostructures for commercial, military and general aviation fixed and rotary wing aircraft; safe and arming solutions for missile and bomb systems for the U.S. and allied militaries; subcontract helicopter work; restoration, modification and support of our SH-2G Super Seasprite maritime helicopters; manufacture and support of our heavy lift K-MAX® manned helicopter, the K-MAX TITAN unmanned helicopter and the KARGO UAV unmanned aerial system, a purpose-built autonomous medium-lift logistics vehicle. More information is available at www.kaman.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220705005046/en/

Kristen Samson

Vice President and Chief Marketing Officer

860-243-6330

Kristen.samson@kaman.com

Source: Kaman Corporation

FAQ

What recent management change has occurred at Kaman Corporation?

Carroll K. Lane has been appointed as Senior Vice President and President of the Air Vehicles and Precision Products divisions.

What is Carroll K. Lane's previous experience before joining Kaman?

Lane was the President of Commercial Engines at Pratt & Whitney and has a decade of experience at United Technologies Corporation.

Who did Carroll K. Lane replace at Kaman Corporation?

He replaces Darlene Smith, who is retiring at the end of the year.

How might Carroll K. Lane's appointment impact Kaman's business?

His extensive expertise in the aerospace and defense industries is expected to positively influence Kaman's growth strategies.