Wesco Aircraft Appoints Thomas M. Bancroft III to Board of Directors
February 23 2015 - 8:00AM
Business Wire
Wesco Aircraft Holdings, Inc. (NYSE:WAIR), a leading provider of
comprehensive supply chain management services to the global
aerospace industry, today announced that its board of directors has
appointed Thomas M. Bancroft III as a director, effective
immediately. Mr. Bancroft will serve as a Class III director, with
an initial term expiring at the company’s 2017 Annual Meeting of
Stockholders.
Randy Snyder, chairman of the board, said, “We are pleased to
welcome Tom to Wesco’s board. He brings significant investment
experience and adds another strong shareholder perspective to the
board. Tom has a clear understanding of the company’s strategic
direction and our commitment to the highest levels of customer
service.”
“I am excited to be joining Wesco’s board during this important
time in the company’s history,” said Bancroft. “Wesco Aircraft has
a solid reputation in the marketplace. I look forward to working
with the board and management to ensure that this reputation
continues well into the future and translates into long-term
shareholder value.”
Mr. Bancroft is currently the managing member, portfolio manager
and chief investment officer at Makaira Partners, LLC, an
investment management firm that he founded in 2007. Mr. Bancroft
previously served as a senior managing director and portfolio
manager at Plaza Investment Managers, Inc., a wholly owned
subsidiary and the internal investment division of GEICO, one of
the largest auto insurance companies in the United States. GEICO is
an indirect, wholly owned subsidiary of Berkshire Hathaway,
Inc.
Mr. Bancroft began his career as a staff writer and reporter for
Financial World and Forbes, respectively. Mr. Bancroft graduated
from the University of Colorado at Boulder with a Bachelor of
Science degree in Political Science.
Makaira Partners is a private investment management firm based
in La Jolla, California that manages investment partnerships for
individuals, family offices, endowments and non-profit
organizations. Makaira is one of Wesco Aircraft’s largest
shareholders; the firm currently owns approximately 7.5 percent of
the company’s outstanding common stock. Mr. Bancroft may be deemed
to beneficially own (including the shares beneficially owned by
Makaira) approximately 7.6 percent of the company’s outstanding
common stock.
About Wesco Aircraft
Wesco Aircraft is one of the world’s largest distributors and
providers of comprehensive supply chain management services to the
global aerospace industry. The company’s services range from
traditional distribution to the management of supplier
relationships, quality assurance, kitting, just-in-time delivery
and point-of-use inventory management. The company believes it
offers one of the world’s broadest inventories of aerospace
products, comprised of more than 575,000 active stock keeping
units, including hardware, bearings, tools, electronic components,
machined parts and chemicals. Wesco Aircraft has more than 2,700
employees across 80 locations in 19 countries.
To learn more about Wesco Aircraft, visit our website at
www.wescoair.com. Follow Wesco Aircraft on LinkedIn at
https://www.linkedin.com/company/wesco-aircraft-corp.
Wesco Aircraft Holdings, Inc.Jeff Misakian, 661-362-6847Vice
President, Investor RelationsJeff.Misakian@wescoair.com
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