12/14/2010 12:21:00 AM
NEWS BRIEFS
BE Aerospace Names New President and COO
BE Aerospace President and COO Michael Baughan is resigning “to actively pursue other opportunities,” the company reported.
BE Aerospace promoted Werner Lieberherr to succeed Baughan, effective as of December 31, 2010. Lieberherr had been senior Vice President and General Manager of the Commercial Aircraft Segment.
Baughan joined BE Aerospace early in its history and progressed through the management ranks over his 16 years with the company.
“Throughout (Baughan’s) career at the Company he has been a strong and effective leader,” stated CEO Amin Khoury. “While we respect his decision to actively pursue opportunities outside the Company, we will miss Mike’s leadership and drive to constantly improve our operations.”
Michael B. Baughan commented, “I have been fortunate to spend much of my career at B/E Aerospace, I am extremely proud of the mark I will be leaving on this dynamic growing company.”
After spending 15 years in senior management positions with ABB and Alstrom Power, Lieberherr joined BE Aerospace in 2006 as VP and General Manager of the Commercial Aircraft Segment.
Khoury called Lieberherr “an extraordinarily effective and successful leader.”
“We have every expectation that Werner will continue to enhance the profitability and growth of our business as we enter the industry up-turn, which has now begun,” Khoury concluded.
In 2008 BE Aerospace bought Honeywell’s aerospace fastener distribution business, Honeywell Consumable Solutions, for $1.06 billion, transforming BE Aerospace into one of the largest distributors of aerospace fasteners in the world.
In the opening weeks of the fourth quarter BE Aerospace initiated two acquisitions: TSI on October 4, 2010, and Satair’s aerospace fastener distribution business on October 25, 2010, for an aggregate purchase price of approximately $475 million. ©2010 GlobalFastenerNews.com
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