STAMFORD, Conn.--(BUSINESS WIRE)--Jul. 22, 2013--
Hexcel Corporation (NYSE:HXL) (Paris:HXL) today announced that,
effective August 1, 2013, Mr. Nick L. Stanage is appointed President &
Chief Executive Officer of Hexcel Corporation and will join the Board of
Directors. Mr. David E. Berges is appointed Executive Chairman of the
Board until his retirement on December 31, 2013, and then will provide
advisory services for one year.
Mr. Berges commented: “This announcement is the final step in Hexcel’s
carefully orchestrated succession process to ensure an orderly
transition. Over the last three years, Nick Stanage has gained the
confidence of the Board, the global organization, our customers, and
suppliers while delivering record performance. I am delighted that the
Board considers him well prepared to take on this additional
Mr. Stanage, 54, joined Hexcel in 2009 as President and was appointed
Chief Operating Officer in May, 2012. From 1986 to August 2005, Mr.
Stanage held positions of increasing responsibility in engineering,
operations, and marketing with Honeywell Inc. (formerly AlliedSignal
Inc.), including VP Integrated Supply Chain & Technology for the $1.0
billion Consumer Products Group and finally VP and GM of the Aerospace
Group's $1.4 billion Engine Systems & Accessories Division. Prior to
joining Hexcel he served as President of the $3.7 billion Heavy Vehicle
Products business of Dana Holding Corporation. Mr. Stanage earned his
MBA from Notre Dame, and a Bachelor of Science in Mechanical Engineering
from Western Michigan University.
Mr. Berges has served as Chairman & CEO of Hexcel since 2001 and is
retiring after a 42 year career in Industrial and Aerospace industries
including positions at General Electric and Honeywell. Mr. Berges
intends to retire from the Board at the end of this year but will
provide advisory services through 2014.
Ms. Sandra Derickson, Hexcel Lead Director and Chair of the company’s
Nominating & Governance Committee said, “We thank Mr. Berges for his
outstanding leadership and countless contributions for over twelve years
as Chairman & CEO. During Dave’s tenure, Hexcel has established itself
as the world leader in advanced composites, and delivered excellent
value to our shareholders. We are also pleased to announce the
appointment of Mr. Stanage as President & Chief Executive Officer of the
company. Since joining Hexcel in 2009, Nick has demonstrated superior
leadership, and worked closely with Mr. Berges and the board of
directors on the future direction of the company."
Hexcel Corporation is a leading advanced composites company. It
develops, manufactures and markets lightweight, high-performance
structural materials, including carbon fibers, reinforcements, prepregs,
honeycomb, matrix systems, adhesives and composite structures, used in
commercial aerospace, space and defense and industrial applications such
as wind turbine blades.
Source: Hexcel Corporation
Michael Bacal, 203-352-6826