Astronics Corporation Expands Board of Directors with Appointment of Three New Independent Directors
October 11 2016 - 8:30AM
Astronics Corporation (NASDAQ:ATRO), a leading supplier of advanced
technologies and products to the global aerospace, defense, and
semiconductor industries, announced that it has appointed three new
independent directors to its Board: Jeffry D. Frisby, Warren C.
Johnson and Neil Kim. The appointments expand the Board to
nine directors, eight of whom are independent.
Kevin T. Keane, Chairman of the Board, commented, “We are
fortunate to add directors that bring such extensive experience in
leading world-class aerospace and semiconductor companies.
Jeff, Warren and Neil each bring unique talents and valuable
perspectives to our already strong board. The expansion of
the Board is critical to our succession plan and provides for
necessary continuity to support Astronics’ continued success.”
Jeff Frisby, age 60, brings significant aerospace experience
spanning nearly 40 years. He spent 17 years with Triumph
Group, Inc. (NYSE:TGI), a global company that designs, engineers,
manufacturers, repairs and overhauls a broad portfolio of
aerostructures, aircraft components, accessories, subassemblies and
systems, as President and CEO and prior to that as President of the
Aerospace Systems Group. He began his career at Frisby
Aerospace, which was later acquired by Triumph. Mr. Frisby
currently serves on the board of Quaker Chemical Corporation
(NYSE:KWR). He is a graduate of the Wayne Calloway School of
Business and Accountancy at Wake Forest University, where he earned
a Bachelor of Science degree in Business.
Warren C. Johnson, age 57, brings noteworthy aerospace
experience from his 33-year career at Moog Inc., a worldwide
manufacturer of precision control components and systems.
Prior to his retirement, Mr. Johnson was President of the Moog
Aircraft Group. He began his career as a Development Engineer
and held various positions of increasing responsibility, leading
Moog’s efforts to streamline aerospace product development cycle
time and lean activities. Mr. Johnson holds Bachelor of
Science and Master of Science degrees in Mechanical Engineering
from The Ohio State University. He completed a Sloan Fellows
M.B.A. at the Massachusetts Institute of Technology.
Neil Kim, age 58, was with Broadcom Corporation, a global leader
and innovator in semiconductor solutions for wired and wireless
communications, since 2000 and held progressively advanced
positions of responsibility until its acquisition in January
2016. He retired as Executive Vice President, Operations and
Central Engineering, and was responsible for the company's global
manufacturing, including foundry operations, supply chain
management and corporate procurement operations. Prior to
Broadcom, he held a variety of senior technical, research and
development engineering positions with Western Digital Corporation
and Micropolis Corporation. Mr. Kim is named as inventor on
33 patents, previously served as a director for the Global
Semiconductor Alliance and currently is a member of the Board of
Directors for Silicon Laboratories Inc., (NASDAQ:SLAB), Signetics
Korea (KOSDAQ:033170) and Korea Circuit Co. LTD (KS:007810).
He received a Bachelor of Science in Electrical Engineering and
Computer Science from the University of California, Berkeley.
About Astronics Corporation
Astronics Corporation is a leading supplier of advanced
technologies and products to the global aerospace, defense and
semiconductor industries. Astronics’ products and services
include advanced, high-performance electrical power generation,
distribution and motion systems, lighting and safety systems,
avionics products, aircraft structures, systems certification and
automated test systems. Astronics’ strategy is to increase
its value by developing technologies and capabilities, either
internally or through acquisition, and using those capabilities to
provide innovative solutions to its targeted markets and other
markets where its technology can be beneficial. Through its
wholly-owned subsidiaries, Astronics has a reputation for
high-quality designs, exceptional responsiveness, strong brand
recognition and best-in-class manufacturing practices. The
Company routinely posts news and other important information on its
website at www.astronics.com.
For more information on Astronics and its products,
visit its website at www.astronics.com.
Safe Harbor StatementThis news release contains
forward-looking statements as defined by the Securities Exchange
Act of 1934. One can identify these forward-looking statements by
the use of the words “expect,” “anticipate,” “plan,” “may,” “will,”
“estimate” or other similar expressions. Because such
statements apply to future events, they are subject to risks and
uncertainties that could cause actual results to differ materially
from those contemplated by the statements. Important factors
that could cause actual results to differ materially from what may
be stated here include the state of the aerospace, defense,
consumer electronics and semiconductor industries, the market
acceptance of newly developed products, internal production
capabilities, the timing of orders received, the status of customer
certification processes and delivery schedules, the demand for and
market acceptance of new or existing aircraft which contain the
Company’s products, the need for new and advanced test and
simulation equipment, customer preferences and other factors which
are described in filings by Astronics with the Securities and
Exchange Commission. The Company assumes no obligation to
update forward-looking information in this news release whether to
reflect changed assumptions, the occurrence of unanticipated events
or changes in future operating results, financial conditions or
prospects, or otherwise.
For more information contact:
Company:
David C. Burney, Chief Financial Officer
Phone: (716) 805-1599, ext. 159
Email: david.burney@astronics.com
Investor Relations:
Deborah K. Pawlowski, Kei Advisors LLC
Phone: (716) 843-3908
Email: dpawlowski@keiadvisors.com
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