John M. Holmes Promoted to President & Chief Operating Officer of AAR
April 18, 2017
WOOD DALE, Illinois, April 18, 2017 - AAR (NYSE: AIR) today announced that John M. Holmes was elected to President and Chief Operating Officer, AAR Corp., effective June 1, 2017. AAR’s Board of Directors also approved Holmes appointment to the Board, effective at its July 11, 2017 Board meeting. Holmes will continue to report to David P. Storch, AAR’s Chairman and Chief Executive Officer.
"I am very excited about John’s promotion to President and COO of AAR reflecting his hard work, dedication to excellence, and many contributions to the Company’s success,” said Storch. “I look forward to working closely with John, positioning the Company for growth into the future.”
Holmes joined AAR in 2001 as Director of Mergers and Acquisitions, became General Manager of AAR’s parts trading business in 2003, and progressively assumed responsibility for the other solutions that comprise Aviation Services – Integrated Supply Chain, OEM Aftermarket Solutions, Intelligent Solutions and MRO Services. In addition to his previous role as Aviation Services COO, John was recently appointed to oversee Airlift’s leadership team. Holmes earned a bachelor’s degree in finance from the University of Illinois and an MBA from the University of Chicago.
“During his tenure at AAR, John has exhibited strong leadership skills, the vision to identify new markets for growth, and put in place a strong team to build on AAR’s culture of innovation and execution,” said Storch. “I’ve had the opportunity to work closely with John for the last 16 years and have been impressed with his ability to identify market niches and build on our strategy to deliver comprehensive solutions to our commercial and government customers worldwide.”
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.