TRIUMPH ANNOUNCES STREAMLINED ORGANIZATIONAL STRUCTURE

BERWYN, Pa., March 31, 2022 /PRNewswire/ — Triumph Group [NYSE:TGI] today announced a new, streamlined organizational structure that will better reflect its “one company, many solutions” operating philosophy and improve its margins.

“Triumph has undergone a significant transformation to reshape our program and business portfolio, creating a successful business. As we become a provider of outright aftermarket systems and services, we are reorganizing around our core companies operating costs and removing a layer of overhead to better serve the needs of our vast customer base,” said Daniel J. CrowleyChairman, President and Chief Executive Officer of Triumph Group, Inc. “We look forward to accelerating our growth and delivering improved margins as we realize our full potential.”

Efficient April 1, 2022With the start of its 2023 fiscal year, Triumph will reorganize its Systems and Support business unit into the following four products and services operating companies, with leaders from each joining the leadership team:

  • Actuation Products and Servicesdirected by mike boland
  • Systems, electronics and controlsdirected by Justin Wolfange
  • Tailored solutionsdirected by Pete Gibson
  • Product supportdirected by Jim Berberet

Triumph’s Mechanical Solutions business will be combined with Actuation Products and Services given their common customers and common focus on mechanical controls. Triumph’s Interiors business will align with the integrated supply chain and operations organization led by Craig Cooper. Mr. Cooper is also responsible for closing the Stuart, Florida the sale of the inherited structures, which should take place during the first quarter of the 2023 financial year.

Scott Ledbetter, previously President of Actuation Products & Services, will assume a new role as Vice President, Execution Assurance and become a member of the leadership team. Mr. Ledbetter will partner with operating companies to integrate Triumph’s continuous improvement, streamlining and program management functions for the benefit of all customers.

In connection with these changes, Bill Kircher who served as Executive Vice President of Triumph Systems & Support, and Ian Reason who served as President of Mechanical Solutions, will be leaving Triumph to pursue other opportunities. In the interim, Mr. Kircher will serve as a strategic advisor to the CEO to help ensure a smooth transition.

“Today’s announcement demonstrates the deep pool of talent we have at Triumph. The addition of these presidents to our leadership team will foster direct collaboration between our business and functional leaders.” Mr. Crowley continued. “We are grateful for Bill and Ian’s dedicated leadership and their many contributions to our customers, our employees and our business.”

Triumph plans to launch a new corporate identity that reflects its evolution towards a unified “one business, many solutions” operating philosophy in early fiscal 2023. Triumph intends to release financial results based on its current segment structure with additional details on its end markets.

Biographies of the management team are available on the Triumph website.

Triumph Group, Inc., headquartered in Berwyn, Pennsylvania, designs, engineers, manufactures, repairs and overhauls a broad portfolio of aerospace and defense systems, components and interiors. The company serves the global aviation industry, including original equipment manufacturers and all military and commercial aircraft operators.

Further information about Triumph is available on the company’s website at www.triumphgroup.com.

SOURCE Triomphe Group