LOS ANGELES--(BUSINESS WIRE)--Oct. 5, 2015--
Ducommun Incorporated (NYSE: DCO) (“Ducommun” or the “Company”) today
announced a planned succession of the Company’s financial leadership.
Joseph P. Bellino, 65, vice president, chief financial officer and
treasurer, has decided to retire effective December 31, 2015. As part of
its long-range succession plan, the Company announced that Douglas L.
Groves, 53, currently vice president, controller and chief accounting
officer, will succeed Mr. Bellino on January 1, 2016.
“Joe has been an integral, dedicated member of our executive team over
the past seven years – actively supporting two successful acquisitions,
leading three debt refinancing projects, and enhancing our investor
relations activities,” said Anthony J. Reardon, chairman and chief
executive officer. “In addition, Joe’s commitment to organizational
development in the financial and IT areas, and his leadership in the
financial succession plan, leave the Company well positioned for future
success. We wish Joe the very best.
“We expect the upcoming transition to be a seamless one, as Doug has
taken on greater financial responsibilities this year as well as been
involved with our investor relations initiatives. We are pleased to have
a person of Doug’s acumen and intellect on board, and his breadth and
depth of experience will enhance our performance improvement plans and
ensure a continued focus on a strong balance sheet going forward.”
Mr. Groves joined Ducommun in January 2013 as vice president of
accounting and moved into the vice president, controller and chief
accounting officer role later that year. He has more than 25 years of
management experience in finance, accounting, audit, and information
technology across several industrial companies, most recently at Beckman
Coulter, Inc., where he served as corporate vice president and chief
information officer. Mr. Groves has an MBA from the University of
Southern California and a bachelor’s degree from California State
University at Long Beach.
About Ducommun Incorporated
Founded in 1849, Ducommun Incorporated provides engineering and
manufacturing services to the aerospace, defense, and other industries
through a wide spectrum of electronic and structural applications. The
company is an established supplier of critical components and assemblies
for commercial aircraft and military and space vehicles as well as for
the energy market, medical field, and industrial automation. It operates
through two primary business units – Ducommun AeroStructures (DAS) and
Ducommun LaBarge Technologies (DLT). Additional information can be found
at www.ducommun.com.
Statements contained in this press release regarding other than
recitation of historical facts are forward-looking statements. These
statements are identified by words such as “may,” “will,” “begin,” “look
forward,” “expect,” “believe,” “intend,” “anticipate,” “should,”
“potential,” “estimate,” “continue,” “momentum” and other words
referring to events to occur in the future. These statements reflect the
Company’s current view of future events and are based on its assessment
of, and are subject to, a variety of risks and uncertainties beyond its
control, including, but not limited to, the state of the world
financial, credit, commodities and stock markets, and uncertainties
regarding the Company, its businesses and the industries in which it
operates, which are described in the Company’s filings with the
Securities and Exchange Commission. The Company is under no obligation
to (and expressly disclaims any such obligation to) update or alter its
forward-looking statements whether as a result of new information,
future events or otherwise.
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Source: Ducommun Incorporated
Ducommun Incorporated
Joseph P. Bellino, Vice President and Chief
Financial Officer
310-513-7211
or
Chris Witty, Investor
Relations
646-438-9385
cwitty@darrowir.com