AAR Chairman & CEO David P. Storch Named First Winner of Penton Aviation Week Network’s Gilbert W. Speed Award
March 4, 2015
New leadership award honoring legacy of industry pioneer & SpeedNews founder presented during Commercial Aviation Industry Suppliers Conference
NEW YORK – March 3, 2015 – David P. Storch, Chairman & CEO of AAR, is the inaugural recipient of the Gilbert W. Speed Award honoring outstanding leadership and collaboration across the global aerospace and defense supply chain. The award was presented today by the Penton Aviation Week Network at its 29th Annual SpeedNews Commercial Aviation Industry Suppliers Conference in Beverly Hills, CA.
Award judges noted that Storch’s passions for collaboration, skills-focused education and business-driven solutions have translated into business success at global aerospace and defense firm AAR, where he has grown revenues by more than 300 percent since becoming only its second CEO in 1996. During his career, he has emerged as “an important advocate of public-private partnerships to advance skills, build a pipeline of talent and share prosperity,” according to judges.
“David Storch is the ideal industry leader to receive this first Gilbert W. Speed Award,” said Greg Hamilton, President of the Penton Aviation Week Network. “Like Gil, he has embodied integrity and success throughout his career, serving as a role model for collaborating across the aerospace and defense supply chain and mentoring next generation leaders.”
“I am honored to receive this award named for an industry pioneer and my respected friend and colleague Gil Speed," said Storch. “Gil was an accomplished entrepreneur who dedicated his life to the aviation industry and truly made a difference.”
The Gilbert W. Speed Award honors the legacy of the man who founded SpeedNews, the aviation industry’s newsletter of record, in 1979 and established its annual suppliers conference in 1987. Speed, who passed away in January 2014 at age 81, was a well-respected industry partner and touched many lives during his 60+-year tenure in the aviation industry.
For more information about the Gil Speed Award, visit http://speednews.com/commercial-aviation-industry-suppliers-conference.
AAR is a global aerospace and defense aftermarket solutions company with operations in over 20 countries. Headquartered in the Chicago area, AAR supports commercial and government customers through two operating segments: Aviation Services and Expeditionary Services. AAR’s Aviation Services include Parts Supply; OEM Solutions; Integrated Solutions; and Maintenance, Repair and Overhaul (MRO) Services. AAR’s Expeditionary Services include Mobility Systems operations. Additional information can be found at www.aarcorp.com.
Media contact: Daniela Pietsch, Vice President Corporate Marketing & Communications, at firstname.lastname@example.org or +1 630-227-5100.
This press release contains certain statements relating to future results, which are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995, including, but not limited to,statements regarding the agreement to establish The Module Factory,AAR’s estimate that it will manage the teardown, repair, marketing and sales of spare parts of FTAI’s CFM56 engine pool totaling over 200 engines and growing, AAR’s ability to leverage its extensive USM capabilities to offer CFM56 serviceable engine material to the global commercial aviation aftermarket, that the partnership positions AAR well to service the growing demand for USM on a leading engine platform as customers increasingly prioritize more cost-efficient solutions, and the belief that serviceable engine products, combined with FTAI’s proprietary products and partnerships, completes its unique suite of CFM56 aftermarket offerings aimed at delivering the lowest cost per cycle solution to airline customers. Forward-looking statements may also be identified because they contain words such as ‘‘anticipate,’’ ‘‘believe,’’ ‘‘continue,’’ ‘‘could,’’ ‘‘estimate,’’ ‘‘expect,’’ ‘‘intend,’’ ‘‘likely,’’ ‘‘may,’’ ‘‘might,’’ ‘‘plan,’’ ‘‘potential,’’ ‘‘predict,’’ ‘‘project,’’ ‘‘seek,’’ ‘‘should,’’ ‘‘target,’’ ‘‘will,’’ ‘‘would,’’ or similar expressions and the negatives of those terms. These forward-looking statements are based on beliefs of Company management, as well as assumptions and estimates based on information currently available to the Company, and are subject to certain risks and uncertainties that could cause actual results to differ materially from historical results or those anticipated, including those factors discussed under Item 1A, entitled “Risk Factors”, included in the Company’s Form 10-K for the fiscal year ended May 31, 2014. Should one or more of these risks or uncertainties materialize adversely, or should underlying assumptions or estimates prove incorrect, actual results may vary materially from those described. These events and uncertainties are difficult or impossible to predict accurately and many are beyond the Company’s control. The Company assumes no obligation to update any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events. For additional information, see the comments included in AAR’s filings with the Securities and Exchange Commission.