SIFCO Industries, Inc. (“SIFCO”) Announces Appointment of Robert Johnson to the Board of Directors

Rhea-AI Summary

SIFCO Industries, Inc. (NYSE American: SIF) has announced the appointment of Robert 'Bob' Johnson to its Board of Directors, effective September 26, 2024. Mr. Johnson brings extensive domestic and international executive experience in the aerospace industry, including expertise in risk management, financial oversight, operations, and strategy. He has been serving as an advisor to SIFCO's Board and CEO since November 2022.

Mr. Johnson's impressive career includes current roles as chairman of the board at Spirit Aerosystems and board member for Spirit Airlines, Roper Industries, Inc., and Elbit Systems of America, His past experience includes serving as CEO of Dubai Aerospace Enterprise and chairman of Honeywell Aerospace. This appointment is expected to bring valuable insights and leadership to SIFCO Industries, Inc.

Positive

• Appointment of Robert Johnson, an experienced aerospace industry executive, to the Board of Directors
• Johnson's extensive experience in risk management, financial oversight, operations, and strategy
• Johnson's current roles in other major companies, including Spirit Aerosystems and Spirit Airlines
• Johnson's prior experience as CEO of Dubai Aerospace Enterprise and chairman of Honeywell Aerospace

Negative

• None.

CLEVELAND--(BUSINESS WIRE)-- SIFCO Industries, Inc.  (NYSE American: SIF) – We are very pleased to announce that Robert ‘Bob’ Johnson has been appointed to the Board of Directors effective September 26, 2024. Mr. Johnson, has deep domestic and international executive experience in the aerospace industry, including risk management, financial oversight, operations, and strategy. He has served as an advisor to the Board and the Chief Executive Officer of the Company since November 2022, and brings valuable experience forged through an exemplary career in various roles within the aerospace industry.

Mr. Johnson currently serves as the chairman of the board of directors of Spirit Aerosystems, a publicly traded aerospace components company. He also currently sits on the board of directors of Spirit Airlines, a publicly-traded, leading low-fare commercial carrier, Roper Industries, Inc., a publicly traded diversified industrial company, and Elbit Systems of America, LLC, a U.S.-based wholly owned subsidiary, with no registered securities, of Elbit Systems Ltd., a leading global source of innovative, technology based systems for diverse defense and commercial applications.

Mr. Johnson retired in 2008 as chief executive officer of Dubai Aerospace Enterprise (DAE), a global aerospace engineering and services company. In 2005, prior to DAE, Mr. Johnson was chairman of Honeywell Aerospace, a leading global supplier of aircraft engines, equipment, systems and services, where he also served prior to 2005 as president and chief executive officer. Prior to Honeywell Aerospace, Mr. Johnson held management positions at various aviation and aerospace companies. He served on the board of directors of Ariba, Inc., a publicly traded software company, from 2005 to 2012.

Forward-Looking Language

Certain statements contained in this press release are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements relating to financial results and plans for future business development activities, and are thus prospective. Such forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. Potential risks and uncertainties include, but are not limited to, economic conditions, concerns with or threats of, or the consequences of, pandemics, contagious diseases or health epidemics, including COVID-19, competition and other uncertainties the Company, its customers, and the industry in which they operate have experienced and continue to experience, detailed from time to time in the Company’s Securities and Exchange Commission filings.

The Company's Annual Report on Form 10-K for the year ended September 30, 2023 and other reports filed with the Securities and Exchange Commission can be accessed through the Company's website: www.sifco.com, or on the Securities and Exchange Commission's website: www.sec.gov.

SIFCO Industries, Inc. is engaged in the production of forgings and machined components primarily for the aerospace and energy markets. The processes and services include forging, heat-treating, coating, and machining.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240927840571/en/

SIFCO Industries, Inc.

Thomas Kubera, CFO, 216-881-8600

www.sifco.com

Source: SIFCO Industries, Inc.

FAQ

When will Robert Johnson join SIFCO Industries' (SIF) Board of Directors?

Robert Johnson will join SIFCO Industries' (SIF) Board of Directors effective September 26, 2024.

What experience does Robert Johnson bring to SIFCO Industries (SIF)?

Robert Johnson brings deep domestic and international executive experience in the aerospace industry, including risk management, financial oversight, operations, and strategy. He has held leadership positions at companies like Spirit Aerosystems, Dubai Aerospace Enterprise, and Honeywell Aerospace.

What other companies is Robert Johnson currently involved with besides SIFCO Industries (SIF)?

Robert Johnson currently serves as the chairman of the board of Spirit Aerosystems and sits on the boards of Spirit Airlines, Roper Industries, Inc., and Elbit Systems of America,

How long has Robert Johnson been advising SIFCO Industries (SIF) before joining the Board?

Robert Johnson has been serving as an advisor to SIFCO Industries' (SIF) Board and Chief Executive Officer since November 2022.