David E. Berges to Retire at End of Year, Nick L. Stanage Named Chief Executive Officer of Hexcel Corporation, Berges Named E...
22 Juli 2013 - 10:16PM
Business Wire
Regulatory News:
Hexcel Corporation (NYSE:HXL) (Paris:HXL) today announced that,
effective August 1, 2013, Mr. Nick L. Stanage is appointed
President & Chief Executive Officer of Hexcel Corporation and
will join the Board of Directors. Mr. David E. Berges is appointed
Executive Chairman of the Board until his retirement on December
31, 2013, and then will provide advisory services for one year.
Mr. Berges commented: “This announcement is the final step in
Hexcel’s carefully orchestrated succession process to ensure an
orderly transition. Over the last three years, Nick Stanage has
gained the confidence of the Board, the global organization, our
customers, and suppliers while delivering record performance. I am
delighted that the Board considers him well prepared to take on
this additional responsibility.”
Mr. Stanage, 54, joined Hexcel in 2009 as President and was
appointed Chief Operating Officer in May, 2012. From 1986 to August
2005, Mr. Stanage held positions of increasing responsibility in
engineering, operations, and marketing with Honeywell Inc.
(formerly AlliedSignal Inc.), including VP Integrated Supply Chain
& Technology for the $1.0 billion Consumer Products Group and
finally VP and GM of the Aerospace Group's $1.4 billion Engine
Systems & Accessories Division. Prior to joining Hexcel he
served as President of the $3.7 billion Heavy Vehicle Products
business of Dana Holding Corporation. Mr. Stanage earned his MBA
from Notre Dame, and a Bachelor of Science in Mechanical
Engineering from Western Michigan University.
Mr. Berges has served as Chairman & CEO of Hexcel since 2001
and is retiring after a 42 year career in Industrial and Aerospace
industries including positions at General Electric and Honeywell.
Mr. Berges intends to retire from the Board at the end of this year
but will provide advisory services through 2014.
Ms. Sandra Derickson, Hexcel Lead Director and Chair of the
company’s Nominating & Governance Committee said, “We thank Mr.
Berges for his outstanding leadership and countless contributions
for over twelve years as Chairman & CEO. During Dave’s tenure,
Hexcel has established itself as the world leader in advanced
composites, and delivered excellent value to our shareholders. We
are also pleased to announce the appointment of Mr. Stanage as
President & Chief Executive Officer of the company. Since
joining Hexcel in 2009, Nick has demonstrated superior leadership,
and worked closely with Mr. Berges and the board of directors on
the future direction of the company."
*****
Hexcel Corporation is a leading advanced composites company. It
develops, manufactures and markets lightweight, high-performance
structural materials, including carbon fibers, reinforcements,
prepregs, honeycomb, matrix systems, adhesives and composite
structures, used in commercial aerospace, space and defense and
industrial applications such as wind turbine blades.
*****
Hexcel CorporationMichael Bacal,
203-352-6826michael.bacal@hexcel.com
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