BERWYN, Pa., May 3, 2021 /PRNewswire/ -- Triumph Group, Inc.
(NYSE: TGI) ("Triumph" or the "Company") today announced that its
Board of Directors has unanimously elected William "Bill" L.
Mansfield as Lead Independent
Director, effective July 21, 2021.
Mr. Mansfield will succeed General
Ralph "Ed" Eberhart, who has served as a director since
June 2010, Chair from April 2015 to November
2020, and Lead Independent Director since November 2020. Gen. Eberhart is expected to
remain on the Board as a director following the transition.
Mr. Mansfield joined the Board
in November 2012 and, since
July 2020, has served as Chair of the
Finance Committee. He previously served as Chair of the
Compensation and Management Development Committee from July 2018 to July
2020, and as Chair of the Audit committee from July 2015 to July
2018.
General Larry O. Spencer, Chair
of Triumph's Nominating and Corporate Governance Committee, said,
"Bill is well qualified to serve as Lead Independent Director.
Throughout his tenure, Bill has been a strong leader and tremendous
asset to the Board, and, together with the rest of the directors,
we are confident he will uphold Triumph's commitment to
best-in-class corporate governance in his new position."
Colleen C. Repplier, who has
served as a director since August
2019, will take over as Chair of the Finance Committee,
effective July 21, 2021. A
former senior executive at Johnson Controls, Tyco International,
and The Home Depot, Colleen also serves as Lead Independent
Director at Kimball Electronics Inc.
Daniel J. Crowley, Triumph's
Chair, President and Chief Executive Officer, said, "Bill's years
of experience as a public company chair and CEO and deep knowledge
of Triumph will maintain strong board independence and
support the Company's efforts to drive shareholder value. We
are also pleased that Triumph will continue to benefit from Ed's
valuable industry and government insights and experience in his
continuing role as a director."
About Triumph
Triumph Group, Inc., headquartered in Berwyn, Pennsylvania, designs, engineers,
manufactures, repairs and overhauls a broad portfolio of aerospace
and defense systems, components and structures. The company serves
the global aviation industry, including original equipment
manufacturers and the full spectrum of military and commercial
aircraft operators. More information about Triumph can be found on
the Company's website at www.triumphgroup.com.
Forward Looking Statements
Statements in this release which are not historical facts are
forward-looking statements under the provisions of the Private
Securities Litigation Reform Act of 1995, including statements of
expectations about the Company's operations and transformation in
the future. All forward-looking statements involve risks and
uncertainties which could affect the Company's actual results and
could cause its actual results to differ materially from those
expressed in any forward-looking statements made by, or on behalf
of, the Company. Further information regarding the important
factors that could cause actual results to differ from projected
results can be found in Triumph Group's reports filed with the SEC,
including our Annual Report on Form 10-K for the fiscal year ended
March 31, 2020.
Widespread health developments, including the recent global
coronavirus (COVID-19), and the responses thereto (such as
voluntary and in some cases, mandatory quarantines as well as shut
downs and other restrictions on travel and commercial, social and
other activities) could adversely and materially affect, among
other things, the economic and financial markets and labor
resources of the countries in which we operate, our manufacturing
and supply chain operations, commercial operations and sales force,
administrative personnel, third-party service providers, business
partners and customers and the demand for our products, which could
result in a material adverse effect on our business, financial
conditions and results of operations.
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SOURCE Triumph Group