Ducommun Incorporated (NYSE: DCO) (“Ducommun” or the “Company”) today announced that its board of directors has unanimously elected Joel H. Benkie, currently executive vice president and chief operating officer, to the position of president, effective January 1, 2014. Mr. Benkie will retain the role of chief operating officer. As president, he will succeed Anthony J. Reardon, who will continue as chairman and chief executive officer of the Company.
“Joel’s promotion to president comes during a time of tremendous growth opportunity for Ducommun,” said Mr. Reardon. “The Company is positioning itself for increased top-line growth and improved operating results over the long term, and Joel has been instrumental in this process. He is a talented and results-oriented executive whose extensive operational experience, strong leadership skills, and expanded contributions as president will continue to propel Ducommun along its path to greater profitable growth.”
Mr. Benkie joined Ducommun in 2012 after 17 years with Parker Hannifin Corporation where he last served as vice president of operations for the company’s Parker Aerospace unit. Prior to his time at Parker, he held a variety of increasingly responsible operational roles at AlliedSignal. A graduate of Purdue University with a bachelor’s degree in general management, Mr. Benkie also holds an MBA from Indiana University.
About Ducommun IncorporatedFounded 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.