Kevin Stein, president and chief operating officer at TransDigm Group (NYSE: TDG) since 2016, has been elected by the company’s board of directors to serve as president and CEO.
TransDigmÂ said MondayÂ Stein will also join the board and oversee operational and financial aspects of the Cleveland-based aircraft components maker in his new dual-role.
He joined the company in 2014 as chief operating officer of its power groupÂ businesses andÂ previously held positions atÂ Precision Castparts Corp.,Â Cooper IndustriesÂ andÂ Tyco Electronics.
W. Nicholas Howley, who has served as TransDigm CEO since 2001 and as chairman since 2003, will be executive chairman of the company.
He will primarily oversee matters related to corporate strategy,Â mergers and acquisitions, capital allocation, board leadership and investor interactions in his new position.
BothÂ Stein and Howley have extended their employment contracts with the company through 2024.