Spirit AeroSystems Establishes Business Divisions, Makes Organizational Changes

Spirit AeroSystems Holdings, Inc. SPR announced a new organizational structure to focus on growth in the key markets it serves. The company plans to organize three primary business divisions: Commercial, Defense & Space, and Aftermarket, beginning with the 2021 fiscal year-end results.
Spirit will report financial results based on these three external reporting segments. It also announced leadership changes effective October 1, 2021.
Spirit has named Sam Marnick to lead the Commercial Division as President. She will also continue to serve as EVP and COO for Spirit.
Duane Hawkins will continue to lead the Defense & Space Division and is appointed EVP of Spirit; President, Defense & Space Division.
The company has named Kailash Krishnaswamy SVP of the Aftermarket Division. Spirit also named Justin Welner SVP, Chief Administration Officer & Chief Compliance Officer.
Price Action: SPR shares are trading lower by 2.67% at $44.48 on the last check Thursday.