Wesco Aircraft Holdings, Inc., provider of supply chain management services to the aerospace industry, last month named Todd Renehan as Chief Executive Officer and Alex Murray as President and Chief Operating Officer. Renehan has also been added to the Valencia-based company’s board of directors.
Former President, CEO, and Board Member David Castagnola has retired.
Renehan joined Wesco as its executive vice president and chief commercial officer in 2014 following Wesco’s acquisition of Haas Group International, where he had served as president.
“I am honored to take the helm at Wesco Aircraft,” Renehan said in a statement. “I am confident we will continue to make progress toward realizing our growth and profitability goals while building on our solid platform to offer an even more compelling value proposition with superior customer service. I believe in the company’s future and our ability to deliver for customers, create opportunities for employees, and enhance value for shareholders for years to come.”
Murray, now President and Chief Operating Officer, has served as Wesco’s Executive Vice President and Chief Operations Officer since 2010 and has served in various other capacities at Wesco since 2000.
“I look forward to advancing Wesco’s strategies and operational execution in this new role as President and COO,” Murray said. “Todd and I work well together, and I am pleased to step into this role to support our mutual goals of accelerated growth and expanded leadership in the industry for Wesco Aircraft.”
“Todd is an accomplished senior executive who has demonstrated his expertise in global operations, sales and marketing since joining Wesco,” said Chairman of the Board Randy J. Snyder. “He has proven his ability to drive revenue growth, with many new business wins announced over the past several quarters, and has shown he can skillfully move from vision and strategy to execution and implementation. The Board is confident that Todd will be able to foster a high-performing team and deliver strong results.”
The company’s services range from traditional distribution to the management of supplier relationships, quality assurance, kitting, just-in-time delivery and point-of-use inventory management.
Since making the changes in late April, the company has seen its stock fall from $12.45 a share to as low as $8.25 on May 12 in trading on the New York Stock Exchange, before recovering some of those losses.