Triumph Group Announces Plan for Leadership
BERWYN, Pa., Apr 23, 2012 (BUSINESS WIRE) --Triumph Group, Inc. (NYSE:TGI) today announced that Richard C. Ill, Chairman and Chief Executive Officer, expects to retire as Chief Executive Officer of the company effective July 19, 2012, the date of the company's board meeting and annual meeting of stockholders. Jeffry D. Frisby, currently President and Chief Operating Officer, is expected to assume the role of Chief Executive Officer of Triumph Group at that time. Mr. Ill is expected to remain as Chairman.
Mr. Ill founded the company in 1993 and has served as Chief Executive Officer and a member of the Board of Directors since the company's inception.
Mr. Frisby, who has served as President and Chief Operating Officer since July, 2009, joined the company as President of Frisby Aerospace, Inc. upon its acquisition by Triumph. In 2000, he was named Group President of the Triumph Control Systems Group and was later named Group President of the Triumph Aerospace Systems Group upon its formation in April, 2003.
Mr. Ill said, "I am pleased to announce our planned succession process, which will provide a clear and orderly transition in the leadership of our company. Jeff Frisby has made significant contributions to the growth of our business and has played a key role in making Triumph the premier company it is today. As we enter our twentieth year, I look forward to Triumph's continued success with Jeff as our Chief Executive."
Triumph Group, Inc., headquartered in Berwyn, Pennsylvania, designs, engineers, manufactures, repairs and overhauls a broad portfolio of aerostructures, aircraft components, accessories, subassemblies and systems. The company serves a broad, worldwide spectrum of the aviation industry, including original equipment manufacturers of commercial, regional, business and military aircraft and aircraft components, as well as commercial and regional airlines and air cargo carriers.
More information about Triumph can be found on the company's website at http://www.triumphgroup.com.
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 expected changes in the positions of company officers. 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, 2011.
SOURCE: Triumph Group, Inc.
Triumph Group, Inc.
Sheila G. Spagnolo