Spirit AeroSystems Holdings Inc. (together with its subsidiary, Spirit AeroSystems Inc.) announced Patrick M. Shanahan, a member of the company's board of directors has been appointed interim president and chief executive officer, effective immediately. Shanahan succeeds Thomas C. Gentile III as president and chief executive officer. Gentile has resigned as a member of the board, effective September 30, 2023. The company's board will conduct a search to identify a new chief executive officer.
"Spirit plays a vital role in the aerospace industry and is well-positioned to fulfill the growing demand in this important market," said Robert D. Johnson, chair of the board. "Pat is a seasoned executive with nearly four decades of commercial and defense aerospace leadership and senior Department of Defense experience, and he has a valuable customer perspective. I am confident that his leadership will ensure a smooth transition for all of our stakeholders as we look to identify a new chief executive officer."
Johnson continued, "On behalf of the entire board, I thank Tom for his contributions during the last seven years leading the company through some of the most challenging times that the industry has faced. We wish him the best in his future endeavors."
Shanahan's career spans both commercial and military programs, including 31 years with The Boeing Company and service as Deputy Secretary of Defense and Acting Secretary of Defense. As the 33rd Deputy Secretary of Defense, Shanahan helped lead the development of key Department of Defense policies and strategies. Shanahan has served on the Spirit AeroSystems Board since November 2021.
"I believe Spirit possesses the assets, know-how and talent to satisfy the extraordinary aviation demand and mitigate global supply chain challenges," said Shanahan. "I look forward to working closely with our stakeholders, the board and the Spirit team to meet all of our customer commitments, build teamwork, stabilize operations and drive improved cash flow."
"It has been my honor to lead Spirit, strengthen its capabilities, and grow its global enterprise," said Gentile. "With positive market trends and opportunities ahead, I am as confident as ever in the team's ability to effectively navigate a challenging macro environment and deliver on its commitments to our customers and shareholders."
Gentile will serve as a consultant to the company for a period of three months to ensure a smooth transition.
