Spirit Aero CFO to depart amid cash flow struggles, Boeing talks
Rewrites with details, background
June 5 (Reuters) -Spirit AeroSystems SPR.N said on Wednesday that financechief Mark Suchinski would depart the aerospace supplier amid cash flow struggles and ongoing talks to merge with its former owner Boeing BA.N.
Suchinski, a longtimeSpirit executive, will be replaced immediatelyby board member and former Time Warner Cable executive Irene Esteves. He will remain with the Wichita, Kansas-based company for a transition period.
"(Esteves') extensive experience and her remarkable instincts and financial acumen will be invaluable," Spirit CEO Patrick Shanahan said in a statement.
Suchinski's departure comes during a critical time for Spirit, which faces intense scrutiny from investors and regulators followinga January accident where acabin panel blew out mid-air on a Boeing737 MAX 9 jet, the fuselage for which was made by Spirit.
Since the accident, Boeing has slowed production of 737 MAX jets and ended the practice of travelled work —the practice of completing work on a production line outside the ordinary sequence— increasing costs at Spirit and prompting it to consider a capital raise .
Spirit, which has not reported an annual profit since 2020, posted a quarterly net loss of $617 million last month and burned through $444 million in cash in the same period.
Boeing's talks to acquire Spirit have also hit a roadblock due to complicated negotiations with Europe's Airbus AIR.PA, the aerospace supplier'ssecond-biggest customer after the U.S. planemaker.
Suchinski joined Spirit in 2006 as an executive in the Aerostructures Segment and served in various roles beforebeing appointed as the company's CFO in 2020.
He will join The GEO Group GEO.N as its CFO, the private prison operator said in a separate statement.
Esteves has been an independent director at Spirit since 2015, having previously workedas finance chief at Time Warner Cable, XL Group plc and Regions Financial Corporation.
Spirit AeroSystems limits overtime and hiring as Boeing 737 output drops nL2N3GK3I1
Reporting by Abhijith Ganapavaram and Abhinav Parmar in Bengaluru; Editing by Tasim Zahid
免責聲明: XM Group提供線上交易平台的登入和執行服務，允許個人查看和/或使用網站所提供的內容，但不進行任何更改或擴展其服務和訪問權限，並受以下條款與條例約束：（i）條款與條例；（ii）風險提示；（iii）完全免責聲明。網站內部所提供的所有資訊，僅限於一般資訊用途。請注意，我們所有的線上交易平台內容並不構成，也不被視為進入金融市場交易的邀約或邀請 。金融市場交易會對您的投資帶來重大風險。
所有缐上交易平台所發佈的資料，僅適用於教育/資訊類用途，不包含也不應被視爲適用於金融、投資稅或交易相關諮詢和建議，或是交易價格紀錄，或是任何金融商品或非應邀途徑的金融相關優惠的交易邀約或邀請。
本網站的所有XM和第三方所提供的内容，包括意見、新聞、研究、分析、價格其他資訊和第三方網站鏈接，皆爲‘按原狀’，並作爲一般市場評論所提供，而非投資建議。請理解和接受，所有被歸類為投資研究範圍的相關内容，並非爲了促進投資研究獨立性，而根據法律要求所編寫，而是被視爲符合營銷傳播相關法律與法規所編寫的内容。請確保您已詳讀並完全理解我們的非獨立投資研究提示和風險提示資訊，相關詳情請點擊 這裡查看。
