Spirit AeroSystems CEO to Step Down

Airplane parts supplier Spirit AeroSystems (NYSE: SPR  ) announced today that President and CEO Jeffrey L. Turner has decided to retire early next year. Spirit's board of directors will begin searching for a replacement immediately. Turner will remain in charge, and retain the titles of president and CEO, until a replacement is found.

A former Boeing subsidiary, Spirit AeroSystems is one of the largest non-original equipment manufacturers of major airplane parts in the world. It produces such major components as fuselages, pylons, nacelles, and wing components for airplanes such as Boeing's (NYSE: BA  ) 787 Dreamliner and the Boeing 737, as well as for Boeing rival Airbus' A320, A350, and A380 airliners.

Spirit released third-quarter earnings earlier this month, reporting a $211 million operating loss, but guiding investors to expect a small net profit for full year 2012, followed by a more robust profit of $1.90 to $2.10 per share in 2013.


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Rich Smith

I love things that go "boom." Sonic or otherwise, that means I tend to gravitate towards defense and aerospace stocks. But to tell the truth, over the course of a dozen years writing for The Motley Fool, I have covered -- and continue to cover -- everything from retailers to consumer goods stocks, and from tech to banks to insurers as well. Follow me on Twitter or Facebook for the most important developments in defense & aerospace news, and other great stories besides.

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11/27/2015 1:02 PM
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