TRIUMPH GROUP,INC. (NYSE:TGI) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 9.01.
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On January 12, 2018, the Board of Directors (the “Board”) of Triumph Group, Inc. (the “Company”) appointed General Larry O. Spencer and Daniel Garton to serve as directors of the Company. General Spencer’s appointment is effective immediately, and Mr. Garton’s appointment will be effective February 19, 2018.
The Board has determined that Mr. Garton and General Spencer qualify as independent directors under the director independence standards set forth in the rules and regulations of the Securities and Exchange Commission and the applicable listing standards of the New York Stock Exchange.
General Spencer has served as President of the Air Force Association (“AFA”) since April 2015, where he is responsible for the management and operations of AFA, the AFA’s Veteran Benefits Association, and the Air Force Memorial Foundation. General Spencer spent 44 years in the United States Air Force (“USAF”), retiring as a four-star general. He served as Vice Chief of Staff of the USAF and served as a member of the Joint Chiefs of Staff Requirements Oversight Council and Deputy Advisory Working Group.
Mr. Garton is the former Chief Executive Officer and President of American Eagle Holding Corporation, a wholly owned subsidiary of American Airlines, a position he held from June 2010 until December 2014. He previously served as Executive Vice President and Chief Marketing Officer for American Airlines, and Senior VP and CFO of Continental Airlines. Mr. Garton has over 30 years of diverse functional leadership experience in the airline industry in key management and financial positions. He has extensive experience working with many of the aerospace OEMs Triumph serves, including Boeing, Airbus, Bombardier and Embraer and with Tier 2 major component and engine suppliers, and aftermarket providers.
There are no arrangements or understandings between either General Spencer or Mr. Garton and any other person to which they were selected as directors. Neither General Spencer nor Mr. Garton has been a party to any transaction involving the Company required to be disclosed under Item 404(a) of Regulation S-K.
General Spencer and Mr. Garton will receive compensation for their service as a director consistent with the Company’s compensation practices for non-employee directors as described under the caption “Director Compensation” in the Company’s proxy statement filed with the Securities and Exchange Commission dated June 9, 2017.
On January 16, 2018, the Company issued a press release announcing the election of General Spencer and Mr. Garton to the Board, a copy of which is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
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Item 9.01 |
Financial Statements and Exhibits. |
TRIUMPH GROUP INC ExhibitEX-99.1 2 exhibit991-triumphgroupinc.htm EXHIBIT 99.1 – TRIUMPH GROUP PRESS RELEASE DATED 1.16.2018 Exhibit Exhibit 99.1 NEWS RELEASE Media Contact: Investor Relations Contact:Michele Long Sheila SpagnoloPhone (610) 251-1000 Phone (610) [email protected] [email protected] GROUP ANNOUNCES APPOINTMENT OF TWO NEW DIRECTORSBERWYN,…To view the full exhibit click here
About TRIUMPH GROUP,INC. (NYSE:TGI)
Triumph Group, Inc. designs, engineers, manufactures, repairs, overhauls and distributes a portfolio of aircraft components, accessories, subassemblies and systems. The Company offers a range of products and services to the aerospace industry through three segments: Triumph Aerostructures Group, whose companies are engaged in the design, manufacture, assembly and integration of metallic and composite aerostructures and structural components for the aerospace original equipment manufacturer (OEM) market; Triumph Aerospace Systems Group, whose companies design, engineer and manufacture a range of build-to-print components, assemblies and systems also for the OEM market, and Triumph Aftermarket Services Group, whose companies serve aircraft fleets, such as commercial airlines, the United States military and cargo carriers, through the maintenance, repair and overhaul (MRO) of aircraft components and accessories manufactured by third parties.
