Esterline Promotes Brad Lawrence to Chief Executive Officer
| Source: Esterline Technologies
BELLEVUE, WA--(Marketwire - September 14, 2009) - Esterline Corporation (NYSE : ESL )
(www.esterline.com), a leading specialty manufacturer serving primarily
aerospace and defense markets, today announced that the company's
president, R. Bradley "Brad" Lawrence, 62, has been elected to the Board of
Directors and named Chief Executive Officer, effective November 1, 2009.
Lawrence succeeds Robert W. Cremin as CEO. Cremin has been with the
company for 33 years and will continue to serve as a non-executive Chairman
of the Board of Directors through early 2011.
"Brad has the knowledge and proven leadership to take Esterline to the next
level," Cremin said. "With more than 40 years of manufacturing and
technology experience under his belt, I'm confident he can get the job
done."
Lawrence was named President and Chief Operating Officer of the company
earlier this year. He has served as an Esterline Group Vice President
since 2007, directly overseeing more than a dozen Esterline business units
as the company's growth accelerated. Prior to that, he spent five years as
President of Esterline's Advanced Input operation and also managed
Esterline's Interface Technologies business platform, which encompasses
three technology companies. Lawrence brings more than 40 years of
technology and manufacturing experience to his new position.
Prior to joining Esterline, Lawrence held management and executive
positions in sales, marketing and operations with Rockwell International,
Paccar, Conductive Rubber Technology, Flow International and PRI
Automation. He holds a Bachelor's degree in Business Administration from
Pennsylvania State University and an Executive MBA from the University of
Pittsburgh's Graduate School of Business.
About Esterline
Esterline is a leading worldwide supplier to the aerospace and defense
industry specializing in three core areas: Advanced Materials, Avionics &
Controls and Sensors & Systems. With annual sales of $1.5 billion,
Esterline employs nearly 10,000 people, including 1,500 engineers
worldwide. The Sensors & Systems segment includes operations that produce
high-precision temperature and pressure sensors, electrical power
distribution equipment, and other related systems principally for aerospace
and defense customers. Operations within the Advanced Materials segment
focus on technologies including high-temperature-resistant materials and
components used for a wide range of military and commercial aerospace
purposes, and combustible ordnance and electronic warfare countermeasure
products. Operations within the Avionics & Controls segment focus on
technology interface systems for commercial and military aircraft and
similar devices for land- and sea-based military vehicles, secure
communications systems, specialized medical equipment, and other high-end
industrial applications.
This press release contains "forward-looking statements" within the meaning
of the Private Securities Litigation Reform Act of 1995. These statements
relate to future events or our future financial performance. In some cases,
you can identify forward-looking statements by terminology such as
"anticipate," "believe," "continue," "could," "estimate," "expect,"
"intend," "may," "might," "plan," "potential," "predict," "should" or
"will," or the negative of such terms, or other comparable terminology.
These forward-looking statements are only predictions based on the current
intent and expectations of the management of Esterline, are not guarantees
of future performance or actions, and involve risks and uncertainties that
are difficult to predict and may cause Esterline's or its industry's actual
results, performance or achievements to be materially different from any
future results, performance or achievements expressed or implied by the
forward-looking statements. Esterline's actual results and the timing and
outcome of events may differ materially from those expressed in or implied
by the forward-looking statements due to risks detailed in Esterline's
public filings with the Securities and Exchange Commission including its
most recent Annual Report on Form 10-K.