AAR Elects General Duncan J. McNabb (ret.) to its Board of Directors
April 18, 2017
WOOD DALE, Illinois, April 18, 2017 – AAR (NYSE: AIR) announced today that General Duncan J. McNabb, U.S. Air Force (retired), was elected to the Company's Board of Directors at today’s quarterly Board meeting.
McNabb served as Commander of the U.S. Air Mobility Command from 2005 to 2007 and Commander of the U.S. Transportation Command (USTRANSCOM) from 2008 until his retirement from the Air Force in 2011. USTRANSCOM is the single manager for global air, land and sea transportation for the Department of Defense (DOD). He also served as DOD’s Distribution Process Owner, overseeing DOD’s end-to-end supply chain, transportation, and distribution to our armed forces worldwide. During his 37 years of service, McNabb’s command and staff assignments included many in the joint area, as well serving as the 33rd Vice Chief of Staff for the U.S. Air Force.
For the last four years, McNabb has been a managing partner at Ares Mobility Solutions Inc., a company he co-founded to increase the efficiency and profitability of international logistics providers.
"We are very pleased to welcome Duncan to our Board of Directors," said David P. Storch, Chairman, President and Chief Executive Officer of AAR. "We look forward to benefiting from Duncan’s insights gained over his 37 years of distinguished service to the U.S. Government.”
McNabb, 64, serves on the Boards of A.T. Kearney Public Sector & Defense Services, Atlas Air Worldwide, and Elbit Systems of America.
He is a graduate of the U.S. Air Force Academy and a recipient of numerous military awards and decorations.During his time as a command pilot, McNabb amassed more than 5,600 flying hours.
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 email@example.com 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, 2016. 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.