TGI - Triumph Group Appoints Richard Goglia As New Independent Director
BERWYN, Pa., April 1, 2020 /PRNewswire/ -- Triumph Group [NYSE: TGI] today announced that Richard Goglia will join its Board of Directors as an independent director and as a member of the Audit and Finance committees.
Mr. Goglia served as Raytheon Company's Corporate Treasurer for seventeen years and was an integral part of the team who executed a successful transformation effort that resulted in the company's return to a solid investment grade credit rating. Rich's work included debt restructuring and equity issuances, lender renegotiations, asset sales, and asset liquidations to reduce debt. Raytheon is a premier aerospace and defense company with global manufacturing capabilities.
From 2004 to 2008, Rich also was head of corporate development, leading the completion of the divestiture of Raytheon Aircraft in 2007, which enabled the company to further retire debt and focus on its defense portfolio. Rich also served as Raytheon's Chief Investment Officer from 2004 to 2015, a role in which he was responsible for approximately $34 billion in retirement assets. He was nominated by Institutional Investor for their Alpha Generation award in 2013. Prior to joining Raytheon, Rich served as a Senior Vice President at GE Capital, where he extended corporate loans for restructuring and acquisition activities.
Since 2015, Rich has been an active board member, currently serving on the board of Natixis/Loomis Sayles mutual funds, where he has served as a member of the audit, governance and contracts committees. While at Raytheon, he served on the joint venture boards of Space Imaging and Flight Options. Mr. Goglia received a Bachelor of Arts degree in Economics from Bucknell University and an MBA in Corporate Finance and Strategy from the Wharton School of Business.
"We are pleased to welcome Rich and know that his expertise in corporate finance and aerospace will make him a valuable independent director on the Triumph Group Board," said Daniel J. Crowley, Triumph's president and chief executive officer. "As we complete our transformation and work through global and industry challenges on our path to improved shareholder value, the addition of Rich will complement an already strong board."
"The Board welcomes Rich Goglia to Triumph and looks forward to drawing upon his relevant experience in our industry, financial acumen, and governance skills" said General Ralph "Ed" Eberhart, Triumph's non-executive chairman.
Triumph Group, Inc., headquartered in Berwyn, Pennsylvania, designs, engineers, manufactures, repairs and overhauls a broad portfolio of aerospace and defense systems, components and structures. The company serves the global aviation industry, including original equipment manufacturers and the full spectrum of military and commercial aircraft operators.
More information about Triumph can be found on the company's website at www.triumphgroup.com.
Statements in this release which are not historical facts are forward-looking statements under the provisions of the Private Securities Litigation Reform Act of 1995. All forward-looking statements involve risks and uncertainties which could affect the company's actual results and could cause its actual results to differ materially from those expressed in any forward-looking statements made by, or on behalf of, the company. Further information regarding the important factors that could cause actual results to differ from projected results can be found in Triumph Group's reports filed with the SEC, including our Annual Report on Form 10-K for the fiscal year ended March 31, 2019 and our Quarterly Report on Form 10-Q for the fiscal quarter ended December 31, 2019.
SOURCE Triumph Group