John Holmes, chief operating officer of AAR‘s (NYSE: AIR) aviation services business and a 16-year company veteran, has been promoted to the roles of president and CFO in a move that takes effect June 1.
AAR said Tuesday Holmes will also begin to serve as a member of its board of directors starting July 11 and continue to report directly to CEO and Chairman David Storch.
Holmes joined the company in 2001 as merger-and-acquisition director and later held the role of general manager of the parts trading business.
He also led business units focused on integrated supply chain for aviation services, original equipment manufacturer aftermarket systems and maintenance, repair and overhaul services.
In a separate announcement, AAR said Timothy Romenesko will retire as chief financial officer and vice chairman of the company by Dec. 31.
The 36-year company veteran served as corporate controller in 1991; CFO and treasurer from 1994 to 2006; president and COO from 2007 to 2015; and vice chairman and COO of the expeditionary services business before he was re-appointed as CFO in 2016.
AAR has kicked off its search for a successor to Romenesko.