Spirit AeroSystems Makes Changes to Strengthen Operational Alignment and Program Execution

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Nov 28, 2023, 10:04 ET

WICHITA, Kan., Nov. 28, 2023 /PRNewswire/ -- Spirit AeroSystems, Inc. [NYSE: SPR] today announced the departure of Sam Marnick, Executive Vice President and Chief Operating Officer, President, Commercial from the Company. As part of this transition, Spirit is making organizational changes to strengthen its focus on quality and operational performance.

"Sam has been a key member of Spirit's leadership team for a number of years serving across multiple roles and events in Spirit's history," said Bob Johnson, Chairman, Spirit AeroSystems.

"We wish Sam well on future endeavors. She played a pivotal role in establishing Spirit as an independent company," said Patrick Shanahan, President and CEO, Spirit AeroSystems. "We are taking this opportunity to realign to enhance program execution and integration across operations." As part of this transition, Shanahan said that Terry George will serve as interim Senior Vice President, leading site operations in Wichita, Kan., and Tulsa, Okla., including Fabrication, Operations Engineering, Tooling, and Facilities. Program leaders who previously reported to Marnick will now report directly to Shanahan.

Spirit AeroSystems, Inc. ("Spirit"), a subsidiary of Spirit AeroSystems Holdings, Inc. [NYSE: SPR] ("Spirit AeroSystems").

On the web: www.spiritaero.com
On Twitter: @SpiritAero

About Spirit AeroSystems
Spirit AeroSystems is one of the world's largest manufacturers of aerostructures for commercial airplanes, defense platforms, and business/regional jets. With expertise in aluminum and advanced composite manufacturing solutions, the company's core products include fuselages, integrated wings and wing components, pylons, and nacelles. We are leveraging decades of design and manufacturing expertise to be the most innovative and reliable supplier of military aerostructures, and specialty high-temperature materials, enabling warfighters to execute complex, critical missions. Spirit also serves the aftermarket for commercial and business/regional jets. Headquartered in Wichita, Kansas, Spirit has facilities in the U.S., U.K., France, Malaysia and Morocco. More information is available at www.spiritaero.com.

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This press release contains "forward-looking statements" that may involve many risks and uncertainties. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "aim," "anticipate," "believe," "could," "continue," "estimate," "expect," "goal," "forecast," "intend," "may," "might," "objective," "outlook," "plan," "predict," "project," "should," "target," "will," "would," and other similar words, or phrases, or the negative thereof, unless the context requires otherwise. These statements reflect management's current views with respect to future events and are subject to risks and uncertainties, both known and unknown. Our actual results may vary materially from those anticipated in forward-looking statements. We caution investors not to place undue reliance on any forward-looking statements. Important factors that could cause actual results to differ materially from those reflected in such forward-looking statements and that should be considered in evaluating our outlook include, without limitation, the impact of the COVID-19 pandemic on our business and operations; the timing and conditions surrounding the full worldwide return to service (including receiving the remaining regulatory approvals) of the B737 MAX, future demand for the aircraft, and any residual impacts of the B737 MAX grounding on production rates for the aircraft; our reliance on Boeing for a significant portion of our revenues; our ability to execute our growth strategy, including our ability to complete and integrate acquisitions; our ability to accurately estimate and manage performance, cost, and revenue under our contracts; demand for our products and services and the effect of economic or geopolitical conditions in the industries and markets in which we operate in the U.S. and globally; our ability to manage our liquidity, borrow additional funds or refinance debt; and other factors disclosed in our filings with the Securities and Exchange Commission. These factors are not exhaustive and it is not possible for us to predict all factors that could cause actual results to differ materially from those reflected in our forward-looking statements. These factors speak only as of the date hereof, and new factors may emerge or changes to the foregoing factors may occur that could impact our business. Except to the extent required by law, we undertake no obligation to, and expressly disclaim any obligation to, publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

SOURCE Spirit Aerosystems