Air Industries Group Announces the Appointment of Peter Rettaliata as Chairman of the Board
12 Juli 2023 - 2:30PM
Business Wire
Air Industries Group (the Company) (NYSE American: AIRI),
an integrated Tier 1 manufacturer of precision assemblies and
components for mission-critical aerospace and defense applications,
and a prime contractor to the U.S. Department of Defense, today
announced that it has appointed Peter Rettaliata Chairman of the
Company’s Board of Directors. As Chairman, he succeeds Michael
Taglich, who will remain on the Board of Directors.
Mr. Rettaliata is currently a director of Air Industries and was
formerly the Company’s Chief Executive Officer.
He has spent 50 years in the aerospace industry and has served
as an executive and director of Air Industries for nearly three
decades. For 20 years, from 1994 to December 2014, he was President
and Chief Executive Officer of the Company and returned to that
position on an acting basis from March to November 2017. Prior to
joining Air Industries, Mr. Rettaliata was a senior executive of
the Grumman Aerospace Corporation for 22 years.
Mr. Rettaliata also has served in a number of industry
leadership roles, including Chairman of ADDAPT, an organization of
regional aerospace companies; a member of the Board of Governors of
the Aerospace Industries Association (AIA); and a member of the
Executive Committee of the AIA Supplier Council. Mr. Rettaliata is
a graduate of Niagara University, where he received a B.A. in
History, and Harvard Business School, where he completed the PMD
Program.
Michael Taglich commented, “Pete Rettaliata is well known and
highly respected in the aerospace industry. His experience as a
high-level executive with a prime contractor, and as a supplier to
top-tier customers, provides a unique perspective on our industry.
In his new role as Chairman, he will be a valuable resource to Lou
Melluzzo, our CEO, as he pursues and executes exciting new growth
initiatives.”
REMINDER: Investor Conference
Call
Management will host a conference call to
review the Company’s results for the first quarter of 2023 on
Wednesday, July 12, 2023 at 4:15 PM Eastern Time
Conference Call Toll-Free Number
877-524-8416
ABOUT AIR INDUSTRIES GROUP Air Industries Group (NYSE
American: AIRI) is an integrated manufacturer of precision
assemblies and components for leading aerospace and defense prime
contractors and original equipment manufacturers. The Company is a
Tier 1 supplier to aircraft Original Equipment Manufacturers, a
Tier 2 subcontractor to major Tier 1 manufacturers, and a Prime
Contractor to the U.S. Department of Defense, and is highly
regarded for its expertise in designing and manufacturing parts and
assemblies that are vital for flight safety and performance.
Additional information about the Company can be found in its
filings with the SEC.
Forward Looking Statements Certain matters discussed in
this press release are 'forward-looking statements' intended to
qualify for the safe harbor from liability established by the
Private Securities Litigation Reform Act of 1995. In particular,
the Company's statements regarding trends in the marketplace,
future revenues, earnings and Adjusted EBITDA, the ability to
realize firm backlog and projected backlog, cost cutting measures,
potential future results and acquisitions, are examples of such
forward-looking statements. The forward-looking statements are
subject to numerous risks and uncertainties, including, but not
limited to, the timing of projects due to variability in size,
scope and duration, the inherent discrepancy in actual results from
estimates, projections and forecasts made by management, regulatory
delays, changes in government funding and budgets, and other
factors, including general economic conditions, not within the
Company's control. The factors discussed herein and expressed from
time to time in the Company's filings with the Securities and
Exchange Commission could cause actual results and developments to
be materially different from those expressed in or implied by such
statements. The forward-looking statements are made only as of the
date of this press release and the Company undertakes no obligation
to publicly update such forward-looking statements to reflect
subsequent events or circumstances.
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Information
Air Industries Group Investor Relations 631.328.7078
ir@airindustriesgroup.com
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