Hexcel Corporation (NYSE: HXL) has announced the appointment of Thomas C. Gentile III as Chief Executive Officer & President, effective May 1. Gentile, a seasoned executive with a track record of growing and transforming technology-focused businesses, is set to succeed Nick Stanage, who will transition to the role of Executive Chairman of the Board until his retirement on December 31, 2024.
Gentile, 59, served as President and Chief Executive Officer of Spirit AeroSystems from 2016 to 2023 and has held leadership roles at GE, including President & Chief Operating Officer of GE Capital, President & CEO of GE Healthcare Systems, and President & CEO of GE Aviation Services.
Under Stanage's leadership, Hexcel has established itself as a global leader in advanced lightweight composite materials. The company has reaffirmed its 2024 and mid-term financial guidance, as detailed in its Form 8-K filed with the SEC.
Hexcel Corporation is a global leader in advanced lightweight composite technology, providing innovative high-performance material solutions for commercial aerospace, space and defense, and industrial applications.
The company's broad product range includes carbon fiber, specialty reinforcements, prepregs, honeycomb, resins, engineered core, and composite structures. Hexcel's commitment to innovation and strong customer relationships positions it for continued success under Gentile's leadership.
As Hexcel looks to the future, Stanage expressed confidence in Gentile's ability to lead the company to new heights and a highly successful future. With Gentile at the helm, Hexcel is poised to continue its impressive momentum and drive sustainable, long-term growth for shareholders. The market has reacted to these announcements by moving the company's shares -12.3% to a price of $62.43. Check out the company's full 8-K submission here.
