CHARLOTTE, N.C., Jan. 5, 2015 (GLOBE NEWSWIRE) -- Curtiss-Wright Corporation (NYSE:CW) today announced that David C. Adams has assumed the role of Chairman, effective immediately and pursuant to the Company's October 2014 announcement, adding to his role as Chief Executive Officer (CEO).
Former Executive Chairman Martin R. Benante, 62, has retired from the Company effective January 1, 2015, completing a long legacy as only the eleventh leader in Curtiss-Wright's proud 85 year history. As part of the formal transition plan announced in 2013, Mr. Benante will continue as a member of the Board of Directors until the conclusion of the Company's next Annual Meeting in May 2015, at which time he will retire from the Board. The Company will continue to have an independent Lead Director preside over executive sessions of the Board.
"On behalf of the 10,000 employees of Curtiss-Wright, I want to thank Marty for his dedicated service and leadership over his 37-year career with Curtiss-Wright," said David C. Adams, Chairman and CEO of Curtiss-Wright Corporation. "I look forward to building on his successes and continuing the journey as Curtiss-Wright's new Chairman. The Board of Directors and our management team remain critically focused on driving shareholder value through continued organic investment, operating margin expansion, significant free cash flow generation and steady distributions to shareholders."
David C. Adams assumed the role of President and Chief Executive Officer of Curtiss-Wright Corporation in August 2013, and was named a member of the Board. Previously, Mr. Adams served as Chief Operating Officer since 2012 with responsibility for expanding global opportunities for the Company's diversified business operations and products – overseeing the Company's three former operating segments – Flow Control, Controls and Surface Technologies. Mr. Adams previously served as Co-Chief Operating Officer of Curtiss-Wright, as well as President of Curtiss-Wright Controls, the Motion Control Segment of the Corporation. Mr. Adams has more than 31 years of experience in the aerospace, defense and electronics technology markets.
About Curtiss-Wright Corporation
Curtiss-Wright Corporation (NYSE:CW) is a global innovative company that delivers highly engineered, critical function products and services to the commercial, industrial, defense and energy markets. Building on the heritage of Glenn Curtiss and the Wright brothers, Curtiss-Wright has a long tradition of providing reliable solutions through trusted customer relationships. The company employs approximately 10,000 people worldwide. For more information, visit www.curtisswright.com.
CONTACT: Jim Ryan (973) 541-3766