February 13, 2013
AAR Chief Information Officer Kevin M. Larson Distinguished Among Top U.S. CIOs
Recognized for IT leadership and information management excellence
WOOD DALE, Illinois – Kevin M. Larson, Vice President and Chief Information Officer of AAR CORP. (NYSE: AIR), has been named a top U.S. CIO for 2012. Larson, 53, was recognized by ExecRank, an independent authority that ranks C-level executives across multiple industries.
“I am grateful for this recognition, which reflects the strength and dedication of AAR’s outstanding team of software developers and technical support personnel,” said Larson, who has worked in various IT leadership capacities since joining AAR in 1989.
Larson was ranked among 150 CIOs from a field of 38,000 selected by ExecRank, which looks at 24 key criteria in selecting its “Most Distinguished CIO” honorees. Chief among them was experience in managing budgets, people and resources and the overall flow of information. Speaking engagements and participation on boards also weighed heavily.
Larson, who has 30 years of information technology experience, joins a distinguished list of CIOs being honored by ExecRank for 2012, including Thaddeous Arroyo, AT&T; Kim Hammonds, Boeing; and Dave Weick, McDonald’s. Under his direction, AAR has gained a competitive technological edge, especially in the Company’s MRO and supply chain operations.
“Kevin’s leadership integrating information technologies into our customer solutions has been a key differentiator as we have expanded our offerings to include more sophisticated, integrated and efficient aircraft maintenance and supply chain solutions,” said AAR President and Chief Operating Officer Timothy J. Romenesko.
About AAR
AAR is a global aftermarket solutions company that employs more than 6,000 people in over 20 countries. Based in Wood Dale, Illinois, AAR supports commercial aviation and government customers through two operating segments: Aviation Services and Expeditionary Services. AAR’s Aviation Services include inventory management; parts supply; OEM parts distribution; aircraft maintenance, repair and overhaul; engineering services and component repair. AAR’s Expeditionary Services include airlift operations; mobility systems; and command and control centers in support of military and humanitarian missions. More information can be found at www.aarcorp.com.
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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. 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, 2018. 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.
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Wood Dale, Illinois — AAR CORP. (NYSE: AIR), a leading provider of aviation services to commercial and government operators, MROs, and OEMs, announced today that it has entered into a definitive agreement to divest its Landing Gear Overhaul business to GA Telesis. The transaction is valued at $51 million and is expected to close in the first quarter of the 2025 calendar year, subject to customary and regulatory closing conditions. The divestiture will be immediately accretive to margins and earnings.
