FORT COLLINS, Colo., Oct. 18, 2022 (GLOBE NEWSWIRE) — Woodward, Inc. (NASDAQ:WWD) right this moment introduced a streamlined Aerospace and Industrial organizational construction and management designed to reinforce the gross sales expertise for patrons, simplify operations, and enhance profitability by means of improved execution.
Under the management of Chair and Chief Executive Officer Chip Blankenship, who joined Woodward in May, Woodward will consolidate its business group construction beneath its two current business segments, Aerospace and Industrial, within the following method:
Aerospace Segment
- Aircraft Turbine Systems and Aero Systems business teams will likely be mixed throughout the Aerospace Segment.
- Terry Voskuil, who beforehand served as President, Aircraft Turbine Systems, will function President of the Aerospace Segment.
- As Woodward appears to speed up progress in Missiles and Space purposes, Roger Ross, who beforehand served as President, Aero Systems, will assume the position of Sr. Vice President, Missiles & Space, to guide this market growth effort.
Industrial Segment
- Engine Systems and Turbomachinery Systems business teams will likely be mixed throughout the Industrial Segment.
- In mild of the organizational modifications, Sagar Patel, who beforehand served as President, Engine Systems, will likely be leaving the corporate.
- Jeff Stewart, Vice President and General Manager, Turbomachinery Systems, is getting into into phased retirement from the corporate after nearly three many years at Woodward.
- Randy Hobbs will be part of Woodward as President of the Industrial Segment.
Mr. Blankenship stated, “The changes we are making to our business structure and leadership will reduce complexity and improve operational performance to better serve our customers. We are thrilled to welcome Randy Hobbs, a proven leader with decades of experience leading business units through lean transformations. We are confident that he and Terry will bring strong leadership to our Industrial and Aerospace businesses, and Roger will bring important focus to our high-growth missiles and space opportunity. These changes will better position us to capitalize on the strong demand in our end markets, and I look forward to working with our entire team to deliver value to our customers and shareholders.”
Mr. Blankenship continued, “On behalf of the entire organization, I want to thank Sagar for his many contributions to Woodward over the past decade, and I wish him all the best.”
Randy Hobbs
Mr. Hobbs is an achieved government with vital world management expertise and provide chain and lean administration experience. Before becoming a member of Woodward, Mr. Hobbs spent over three many years at General Electric, the place he served in a variety of management roles, together with most not too long ago as Senior Executive Director, Rotating Parts & Compressor Airfoils. During his tenure at General Electric, Mr. Hobbs repeatedly reworked and enhanced manufacturing operations and business items throughout various finish markets together with aviation and locomotives. Mr. Hobbs holds a Bachelor of Science diploma in Mechanical Engineering and an M.B.A. from the University of Dayton.
About Woodward, Inc.
Woodward is the worldwide chief within the design, manufacturing, and service of vitality conversion and management options for the aerospace and industrial gear markets. Together with our prospects, we’re enabling the trail to a cleaner, decarbonized world. Our progressive fluid, combustion, electrical, propulsion and movement management methods carry out in among the world’s harshest environments. Woodward is a world firm headquartered in Fort Collins, Colorado, USA. Visit our web site at www.woodward.com.
Notice Regarding Forward-Looking Statements
The statements on this launch comprise forward-looking statements that contain dangers and uncertainties, together with statements regarding modifications we’re making to our business construction and management that can scale back complexity and enhance operational efficiency to raised serve our prospects, that these modifications will higher place us to capitalize on the robust and current demand in our finish markets, and that we are going to ship improved outcomes and additional worth for our prospects and shareholders. Actual outcomes might differ materially from projections or another forward-looking statements and we now have no obligation to replace our forward-looking statements. Factors that might have an effect on efficiency and might trigger precise outcomes to vary materially from projections and forward-looking statements are described in Woodward’s Annual Report and Form 10-Ok for the 12 months ended September 30, 2021 and any subsequently filed Quarterly Report on Form 10-Q.
