Park Aerospace Corp. Announces the Election of Brad Thress to Its Board of Directors

Rhea-AI Summary

Park Aerospace Corp. (NYSE – PKE) announced the election of D. Bradley Thress as a Director. Thress, currently President and CEO of FlightSafety International, brings extensive leadership experience from Textron Aviation, where he held various senior roles. His military background includes service in the U.S. Air Force. Brian Shore, Park's Chairman and CEO, expressed confidence in Thress's ability to enhance the company’s strategic direction, particularly in supplying aircraft OEMs. Park specializes in advanced composite materials for aerospace applications.

Positive

• Appointment of D. Bradley Thress as a director may strengthen Park's strategic direction.
• Thress's extensive experience in aviation and prior roles at Textron Aviation could provide valuable insights.

Negative

• Transitioning to new leadership may lead to initial disruptions as the board adapts.
• Concerns about continuity and experience gaps in strategic oversight.

NEWTON, Kan., Feb. 25, 2021 (GLOBE NEWSWIRE) -- Park Aerospace Corp. (NYSE – PKE) announced that its Board of Directors has elected D. Bradley (Brad) Thress as a Director of the Company.

Mr. Thress is President and Chief Executive Officer of FlightSafety International, located in Melville, New York, and has served in that capacity since February of 2020. FlightSafety International, a Berkshire Hathaway company, is the world’s pre-eminent professional pilot training company. FlightSafety operates learning centers in 11 countries, employs over 1,800 highly experienced professional instructors and offers more than 4,000 courses for pilots, technicians, flight attendants and dispatchers. From 1992 through February of 2020, Mr. Thress worked for Textron Aviation and held a number of key positions at that company, including Senior Vice President of Global Parts, Programs and Flight Operations, Senior Vice President of Engineering, Senior Vice President of Business Jets and Senior Vice President of Customer Service. Mr. Thress started at Textron Aviation as Demonstration Pilot. Textron Aviation, which is a subsidiary of Textron, Inc., is a world leading manufacturer of business jets, turboprops and other aircraft. From 1984 to 1992, Mr. Thress served in the United States Air Force as a T-38A Instructor Pilot, a KC-135R Aircraft Commander and a T-38A and AT-38B Detachment Commander, among other positions. Mr. Thress received a Bachelor of Engineering Science and Mechanics from the University of Tennessee in Knoxville, Tennessee and an MBA from Baker University in Overland Park, Kansas.

Brian Shore, Park’s Chairman and Chief Executive Officer, said, “I am very pleased that Brad has joined our board. Since, at the end of the day, Park is a supplier to aircraft OEMs, Brad’s deep and extensive experience in key management positions at Textron Aviation will be particularly valuable to us. I have known Brad through our dealings with Textron Aviation for close to fifteen years, and Brad knows Park and our product lines, technologies and capabilities very well. Brad also has an especially good understanding of Park’s culture, which I believe will prove to be invaluable to the board and to Park. Welcome to Park’s board, Brad! We are all looking forward to working with you.”

Park Aerospace Corp. develops and manufactures solution and hot-melt advanced composite materials used to produce composite structures for the global aerospace markets. These materials include lightning strike protection materials. Park offers an array of composite materials specifically designed for hand lay-up or automated fiber placement (AFP) manufacturing applications. Park’s advanced composite materials are used to produce primary and secondary structures for jet engines, large and regional transport aircraft, military aircraft, Unmanned Aerial Vehicles (UAVs commonly referred to as “drones”), business jets, general aviation aircraft and rotary wing aircraft. Park also offers specialty ablative materials for rocket motors and nozzles and specially designed materials for radome applications. As a complement to Park’s advanced composite materials offering, Park designs and fabricates composite parts, structures and assemblies and low volume tooling for the aerospace industry. Target markets for Park’s composite parts and structures (which include Park’s proprietary composite SigmaStrut™ and AlphaStrut™ product lines) are, among others, prototype and development aircraft, special mission aircraft, spares for legacy military and civilian aircraft and exotic spacecraft. Park’s objective is to do what others are either unwilling or unable to do. When nobody else wants to do it because it is too difficult, too small or too annoying, sign us up.   

Additional information is available on the Company’s web site at www.parkaerospace.com.

Contact: Donna D’Amico-Annitto	486 North Oliver Road, Bldg. Z
	Newton, Kansas 67114
	(316) 283-6500

FAQ

Who is D. Bradley Thress and what is his role at Park Aerospace Corp.?

D. Bradley Thress is the newly elected Director of Park Aerospace Corp., with extensive leadership experience as President and CEO of FlightSafety International.

What is the significance of D. Bradley Thress's election to the board for Park Aerospace Corp.?

Thress's election is expected to enhance strategic direction, especially in the company's relations with aircraft OEMs.

What experience does D. Bradley Thress bring to Park Aerospace Corp.?

Thress brings valuable experience from Textron Aviation and the U.S. Air Force, which may benefit Park in the aerospace sector.

How might the new board member impact Park Aerospace Corp.'s future?

His aviation industry background could provide fresh perspectives that enhance Park's competitiveness and innovation.