Spirit AeroSystems Names Tom Gentile CEO

Spirit AeroSystems Holdings Inc. on Wednesday said Chief Executive Larry Lawson will retire next month and be replaced by Chief Operating Officer Tom Gentile, whose hiring was announced four months ago by the fuselage maker amid succession speculation.

Mr. Lawson, 57 years old, has been with the company since 2013. Spirit Chairman Bob Johnson credited him with stabilizing critical programs, divesting nonprofitable business jet programs and winning new business.

Mr. Gentile, who was previously chief operating officer of GE Capital, started with Spirit AeroSystems in April, taking charge of all Spirit programs in addition to aspects of engineering, operations and business development. His hiring coincided with reports the company was seeking a chief operating officer as part of a potential succession plan for the CEO.

"I've spent the last couple of months deeply embedded in the business—visiting the sites, meeting the teams, and assessing Spirit's expertise, capabilities and opportunities for growth," Mr. Gentile said in prepared remarks.

Mr. Gentile spent two decades with GE, including roles as chief executive of GE Aviation's services division and chief executive of GE Healthcare Systems. Before GE, he spent more than five years with McKinsey & Co.

Shares of Spirit, inactive premarket, have risen 4.5% over the past three months.

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(END) Dow Jones Newswires

June 08, 2016 08:45 ET (12:45 GMT)

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