B/E Aerospace Names Joseph Lower CFO; Names Michael Senft As CFO Of KLX

(RTTNews) - B/E Aerospace, Inc. (BEAV), which is being split into two independent, publicly traded companies, announced Monday the appointment of Joseph Lower as vice president and chief financial officer, effective upon separation of KLX, Inc. He will join the company initially as vice president of finance on November 1.

"I am pleased to welcome Joe as a member of our executive team who will be working directly with Werner Lieberherr and me. Joe's strong financial background and deep knowledge of the aerospace industry, having been with Boeing over the past 12 years, will serve Joe well in his new role at B/E Aerospace," Chairman and CEO Amin Khoury said in a statement.

Lower most recently served as the vice president of business development and strategy for the Boeing Co. (BA), where he spent the last twelve years.

Prior to joining Boeing in 2002, Lower served at several other financial positions, including serving at Credit Suisse (CS) in various investment banking roles for 6 years. These included positions in mergers and acquisitions, and corporate finance.

B/E Aerospace, the world's leading manufacturer of aircraft cabin interior products and the world's leading provider of aerospace fasteners, consumables and logistics services, is currently in the process of spinning off its distribution, logistics and technical services in to a independent, publicly traded company to be named KLX.

The company also named board member, Michael Senft, as the vice president, chief financial officer and treasurer of KLX, effective today. Senft most recently was a managing director of Moelis & Co. and also a member of the B/E Aerospace board since February 2012. He will cease to be a director upon the spin-off of KLX.

Senft has been associated with B/E Aerospace for more than twenty years in an advisory capacity, including being a director for nearly three years.

Senft also brings in more than 30 years of experience as an investment banker. He has preciously served as the global head of leveraged finance at CIBC, and global co-head of leveraged finance at Merrill Lynch.

"I look forward to working closely with Joe and Werner Lieberherr at B/E Aerospace and with Mike and Tom McCaffrey at KLX," Khoury added.

B/E Aerospace commenced in June a process to separate its businesses into two independent, publicly traded companies, manufacturing and services. The company is currently expecting the separation to be completed in the first quarter of fiscal 2015.

B/E Aerospace announced in early May that it was engaged in a process to explore and evaluate its strategic alternatives, including, amongst others, a possible sale or merger, the sale, spin-off or other separation of selected businesses within B/E or other strategic transactions involving the company or its businesses.

BEAV closed Friday's regular trading session at $81.75, up $1.19 on a volume of 1.08 million shares.