B/E Aerospace Announces Appointment of Two New Directors and Retirement of One Director
March 01 2012 - 4:15PM
Business Wire
B/E Aerospace (Nasdaq: BEAV), the world’s leading manufacturer
of aircraft cabin interior products and the world’s leading
distributor of aerospace fasteners and consumables, today announced
the appointment of Michael F. Senft and John T. Whates to its Board
of Directors. The Company also announced today that Arthur E.
Wegner retired from the Board of Directors for health reasons,
effective February 29, 2012.
Mr. Senft is currently a Managing Director of Moelis &
Company, where he provides strategic advisory services to clients
in a variety of industries, including the Metals and Mining, Food,
and Industrials sectors. Mr. Senft has almost 30 years of
experience as an investment banker, including prior roles as Global
Head of Leveraged Finance at CIBC, and Global Co-Head of Leveraged
Finance at Merrill Lynch. Mr. Senft is also President of Crucible
Associates LLC, a private investment vehicle he founded in 2009.
From 2008 to 2010, Mr. Senft served on the Board of Directors of
Moly Mines Ltd, a development stage mining company publicly listed
on the Australian and Toronto stock exchanges. Mr. Senft holds a BA
in Economics from Princeton University, and an MBA from the Stern
School of Business at New York University.
Mr. Whates has been an independent tax advisor and involved in
venture capital and private investing since 2005. He is Chairman of
the Board of Dynamic Healthcare Systems, Inc., a company that
provides enterprise technology software solutions to healthcare
organizations. Previously, Mr. Whates was a tax partner in several
of the largest public accounting firms, most recently leading the
High Technology Group Tax Practice of Deloitte LLP in Orange
County, California. He has extensive experience working with public
companies in the fields of tax, equity financing and mergers and
acquisitions. Mr. Whates is a graduate of the University of
Illinois, Southwestern University School of Law and Golden Gate
University.
Amin J. Khoury, Chairman and Chief Executive Officer of B/E
Aerospace, commented, “The Company wishes to thank Mr. Wegner for
his significant contributions and services as a member of our Board
of Directors. His industry experience and his commitment to quality
and continuous improvement proved highly valuable to our
Company.”
Mr. Khoury added, “I am pleased to welcome Mr. Senft and Mr.
Whates as members of our Board of Directors. Both have advised the
Company and its management numerous times over the past twenty
years and both have a deep understanding of our business. As a
result, they both possess the knowledge, commitment and
determination to contribute significantly to many facets of our
business.”
This news release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended.
Such forward-looking statements involve risks and uncertainties.
The Company’s actual experience and results may differ materially
from the experience and results anticipated in such statements.
Factors that might cause such a difference include those discussed
in the Company’s filings with the Securities and Exchange
Commission, which include its Proxy Statement, Annual Report on
Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on
Form 8-K. For more information, see the section entitled
"Forward-Looking Statements" contained in the Company’s Annual
Report on Form 10-K and in other filings. The forward-looking
statements included in this news release are made only as of the
date of this news release and, except as required by federal
securities laws, the Company does not intend to update publicly or
revise any forward-looking statements to reflect subsequent events
or circumstances.
About B/E Aerospace
B/E Aerospace is the world’s leading manufacturer of aircraft
cabin interior products and the world’s leading distributor of
aerospace fasteners and consumables. B/E Aerospace designs,
develops and manufactures a broad range of products for both
commercial aircraft and business jets. B/E Aerospace manufactured
products include aircraft cabin seating, lighting, oxygen, and food
and beverage preparation and storage equipment. The company also
provides cabin interior design, reconfiguration and
passenger-to-freighter conversion services. Products for the
existing aircraft fleet – the aftermarket – generate approximately
50 percent of sales. B/E Aerospace sells and supports its products
through its own global direct sales and product support
organization. For more information, visit the B/E Aerospace website
at www.beaerospace.com.
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