TRIUMPH APPOINTS CYNTHIA M. EGNOTOVICH AS NEW INDEPENDENT DIRECTOR
Triumph Group, Inc. (NYSE:TGI) has appointed Cynthia M. Egnotovich as an independent director, effective September 22, 2022. This expands the board to nine directors, with eight being independent. Egnotovich brings extensive experience from her prior role as President of Aerospace Systems Customer Service at United Technologies Corporation and positions at Goodrich Corporation. Her expertise is expected to enhance the Board's ability to drive value for shareholders as Triumph focuses on profitable growth.
- Addition of independent director with extensive aerospace industry experience.
- Board expansion indicates a commitment to improving governance and shareholder value.
- Expertise of Egnotovich expected to contribute to profitable growth.
- No significant negative aspects mentioned.
BERWYN, Pa., Sept. 27, 2022 /PRNewswire/ -- Triumph Group, Inc. (NYSE:TGI) ("TRIUMPH" or the "Company") today announced that Cynthia M. Egnotovich has joined its Board of Directors as an independent director, effective September 22, 2022. With this addition, TRIUMPH's board has expanded to nine directors, eight of whom are independent, and five of whom have been appointed to the Board in the last five years.
Ms. Egnotovich most recently served as President of Aerospace Systems Customer Service at United Technologies Corporation ("UTC"), a multinational conglomerate until her retirement in November 2013. Prior to joining UTC, she held various leadership roles of increasing significance at Goodrich Corporation, an aerospace manufacturer which was acquired by UTC in 2012. Ms. Egnotovich is an experienced director, currently serving also on the Board of Directors of Hexcel Corporation, an industrial materials company, since January 2015. She served as Chair and member of the Board of Directors of Welbilt, Inc., a global manufacturer of food service equipment, from 2016 until July of 2022, when it was acquired by Ali Holding S.r.l. From 2008 to 2016, she served on the Board of Directors of The Manitowoc Company. Ms. Egnotovich received a Bachelor of Science in Biology from Immaculata University and a Bachelor of Business Administration in Accounting from Kent State University.
"We are proud to welcome Cindy to the TRIUMPH Board. Her extensive manufacturing and aerospace industry knowledge will prove valuable to the Board," said Daniel J. Crowley, the Company's President, Chief Executive Officer & Chairman. "I am confident that Cindy's expertise will benefit the company as it focuses on profitable growth."
"As a Board, we regularly assess the attributes of our directors to ensure the Board has the appropriate qualifications and skills to drive value for TRIUMPH shareholders. We welcome Cindy's governance and industry experience as we work to enhance value for all shareholders," said William L. Mansfield, the Company's Lead Independent Director.
TRIUMPH, headquartered in Berwyn, Pennsylvania, designs, engineers, manufactures, repairs, and overhauls a broad portfolio of aerospace and defense systems and components. The company serves the global aviation industry, including original equipment manufacturers and the full spectrum of military and commercial aircraft operators.
Forward Looking Statements
Statements in this release which are not historical facts are forward-looking statements under the provisions of the Private Securities Litigation Reform Act of 1995, including statements of expectations about the Company's operations and transformation in the future. All forward-looking statements involve risks and uncertainties which could affect the Company's actual results and could cause its actual results to differ materially from those expressed in any forward-looking statements made by, or on behalf of, the Company. Further information regarding the important factors that could cause actual results to differ from projected results can be found in Triumph Group's reports filed with the SEC, including our Annual Report on Form 10-K for the fiscal year ended March 31, 2022.
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SOURCE Triumph Group
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