Realignment Will Meet Customers’ Evolving Needs, Deliver Predictable
Profitability and Support Long-Term Growth
BERWYN, Pa.--(BUSINESS WIRE)--Apr. 12, 2016--
Triumph Group, Inc. (NYSE: TGI) today announced that the company
is realigning into four business units to better meet the evolving needs
of its customers. The new structure will enhance Triumph’s customer
focus and leverage the company’s scale in support of delivering
“Triumph’s new structure better supports our go-to-market strategies and
will allow us to more effectively satisfy the needs of our customers
while continuing to deliver on our commitments,” said Daniel J. Crowley,
Triumph’s President and Chief Executive Officer. “We are embarking on a
new chapter for Triumph. The success of our transformation begins with
the important step of aligning with our core markets and operating as
One Triumph Team to leverage our scale and create efficiencies.”
Consolidating from six to four business units will reduce the number of
operating companies and locations and will enhance accountability,
eliminate redundancies and reduce costs. Triumph will now align its
organizational structure, operations and financial reporting for fiscal
The four business units are as follows:
Integrated Systems. Provides integrated solutions including
design, development and support of proprietary components, subsystems
and systems, as well as production of complex assemblies using
external designs. Capabilities include hydraulic, mechanical and
electro-mechanical actuation, power and control; complete suite of
aerospace gearbox solutions including engine accessory gearboxes and
helicopter transmissions; active and passive heat exchange technology;
fuel pumps, fuel metering units and Full Authority Digital Electronic
Control fuel systems; hydro-mechanical and electromechanical primary
and secondary flight controls; and a broad spectrum of surface
treatment options. Thomas Holzthum, formerly Corporate Vice
President-Systems, has been appointed Executive Vice President,
Aerospace Structures. Supplies commercial, business and
military manufacturers with large metallic and composite structures.
Products include wings, wing boxes, fuselage panels, horizontal and
vertical tails and sub-assemblies such as floor grids. Inclusive of
the former Vought Aircraft Division, Aerospace Structures also has the
capability to engineer detailed structural designs in metal and
MaryLou Thomas, formerly Corporate Vice
President-Composites, Structures & Interiors, has been appointed
acting Executive Vice President, Aerospace Structures. Norman Jordan
has resigned from his role as President of Triumph Aerostructures –
Vought Aircraft Division (VAD), effective April 30, 2016, to pursue
other interests. Mr. Jordan and Ms. Thomas will work together to
ensure a seamless transition. Both internal and external candidates
will be considered for the Aerospace Structures position.
Precision Components. Produces close-tolerance parts to
customer designs and model-based definition, including a wide range of
aluminum, hard metal and composite structure capabilities.
Capabilities include complex machining, gear manufacturing, sheet
metal fabrication, forming, advanced composite and interior
structures, joining processes such as welding, autoclave bonding and
conventional mechanical fasteners and a variety of special processes
including super plastic titanium forming, aluminum and titanium
chemical milling and surface treatments. Rick Rosenjack, formerly
Corporate Vice President-Structures, has been appointed Executive Vice
President, Precision Components.
Product Support. Provides full life cycle solutions for
commercial, regional and military aircraft. Triumph’s
extensive product and service offerings include full post-delivery
value chain services that simplify the MRO supply chain. Through its
line maintenance, component MRO and postproduction supply chain
activities, Triumph’s Product Support group is positioned to provide
integrated planeside repair solutions globally. Capabilities include
fuel tank repair, metallic and composite aircraft structures,
nacelles, thrust reversers, interiors, auxiliary power units and a
wide variety of pneumatic, hydraulic, fuel and mechanical accessories.
Michael Abram, formerly Corporate Vice President-Aftermarket Services
Group, has been appointed Executive Vice President, Product Support.
In addition, Michael Perhay, Corporate Vice President-Systems &
Fabrications, has retired after more than thirteen years of dedicated
service to Triumph. The operating companies formerly in the Systems &
Fabrications group have been aligned into the new organizational
Mr. Crowley continued, “To maximize the impact of our new structure, it
is critical that we place our most talented leaders in positions that
capitalize on their unique skill sets and industry experience. We are
fortunate to have Tom, MaryLou, Rick and Mike to lead our realigned
business units and ensure we continue to perform on our commitments. We
are operating with a sense of urgency and remain focused on improving
the company’s performance and delivering predictable profitability.”
Also, to oversee Triumph’s transformation efforts, the company has
created the Transformation Delivery Office (TDO). The TDO will be
responsible for driving the successful realization of the transformation
plan and execution of the ‘One Triumph’ strategy and Triumph Operating
System (TOS). The TDO will govern and drive the implementation of
critical projects needed to achieve breakthrough value and attain full
Business Unit Leadership
Full biographies of the Executive Vice Presidents can be found on the
company’s website under “About Triumph.”
Thomas Holzthum has served as Corporate Vice President-Systems since
2013 with responsibility for eight Triumph Group companies in the
Aerospace Systems segment. He joined Triumph in 1998 with the
acquisition of Frisby Aerospace, where he held the position of Group
Director, Hydraulics. Mr. Holzthum previously served as President of
Triumph Actuation Systems-Connecticut and more recently led the
successful integration of the hydraulic actuation business of GE
Aviation after its acquisition.
MaryLou Thomas has been part of Triumph’s leadership for over 12 years.
She has more than thirty years of experience in the aerospace and
defense industry, including service at Lockheed, Boeing and Triumph
Group. Ms. Thomas previously led Triumph’s Composites, Structures and
Interiors business area with operations in the United States, Mexico,
Thailand and U.K.
Mr. Rosenjack previously served as Corporate Vice President-Structures
responsible for the Triumph Structures’ group of companies, having
joined Triumph in October, 2014. Prior to joining the company, Mr.
Rosenjack was Chief Operating Officer of HM Dunn AeroSystems, and Vice
President and General Manager of Precision Castparts Corp (PCC) after
the acquisition of Heroux Devtek Aerostructures in 2012. Before that,
Mr. Rosenjack spent 20 years with Textron, Inc., including five years
with Bell Helicopter where he was Senior Vice President of the
Commercial Helicopter Business.
Since joining Triumph in 2003 as Vice President of Operations for
Triumph Airborne Structures, Mr. Abram has served as Vice President of
Triumph Aftermarket Services Group, North America and, most recently,
Vice President-Aftermarket Services Group, where he was responsible for
the company’s maintenance, repair and overhaul (MRO) activities
supporting commercial, regional, business and military aircraft
worldwide. Before joining Triumph, he was Vice President of Operations
for NORDAM Repair Division. Mr. Abram has extensive international
business operations experience establishing start-up MRO facilities in
Europe and Singapore.
The company will discuss this announcement during its fiscal fourth
quarter and full year 2016 earnings call to be held on May 4, 2016.
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 Group can be found on the company’s
website at http://www.triumphgroup.com.
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Source: Triumph Group, Inc.
Triumph Group, Inc.
Sheila G. Spagnolo
Vice President – Tax &