Gregory Krekeler
About Gregory Krekeler
Gregory Krekeler is President, Component Repair Services (CRS) at StandardAero (SARO), appointed on September 22, 2025, succeeding Kimberly Ashmun; he is based in Cincinnati, OH and reports to COO Kim Ernzen . He joined StandardAero in 2022 as VP & GM of the Maryville, TN strategic business unit; prior to that he spent nearly two decades in global engineering, supply chain and procurement leadership roles at Boeing, and began his career at McDonnell Douglas in engineering and program leadership . His credentials include an MBA (Washington University Olin), MS in Aerospace Engineering (Missouri S&T), and BS in Aerospace Engineering (University of Kansas) . Company-relevant performance context: CRS segment revenue and Adjusted EBITDA rose sharply year-over-year in Q2 2025, and StandardAero raised 2025 revenue and Adjusted EBITDA guidance in August 2025; proxy-reported TSR from IPO (Oct 2, 2024) to Dec 31, 2024 was 75.60 (see tables below) .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| StandardAero (Maryville, TN SBU) | VP & GM | 2022–2025 | Led engine/APU MRO operations for civil and defense customers |
| Boeing | Various global leadership roles (engineering, supply chain, procurement) | Not disclosed | Managed OEM/supplier relationships, logistics, sustainment across US/UK; deep supply chain risk management |
| McDonnell Douglas | Engineering and program leadership (F/A‑18 Programs, Phantom Works) | Not disclosed | Integrated product team leadership; program chief of staff on F/A‑18 Super Hornet development |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Washington University (Olin), Missouri S&T, University of Kansas | University boards (various) | Not disclosed | Academic governance and industry-aligned advisory support |
| Local charitable boards | Board member | Not disclosed | Community engagement and leadership |
Fixed Compensation
Role benchmarks from the latest proxy for President-level NEOs (context for CRS role; Gregory’s 2025 package not yet disclosed):
| Role Benchmark (NEO, 2024) | Base Salary ($) | Target Bonus (% of Salary) | 2024 Non-Equity Bonus Paid ($) |
|---|---|---|---|
| President, Component Repair Services (Kim Ashmun) | 420,000 | 75% | 359,100 |
| President, Engine Services – Airlines & Fleets (Lewis Prebble) | 425,000 | 75% | 363,375 |
Notes:
- AIP performance metrics and weighting (company-wide for 2024) drove a 114% payout of target bonus for NEOs; see Performance Compensation .
Performance Compensation
Company AIP metrics and 2024 outcomes (applies to NEOs, including President-level roles in 2024):
| Metric | Weighting (%) | 2024 Target Achievement (% of target) | Element Payout (% of target) |
|---|---|---|---|
| Revenue (non-GAAP) | 10% | 99.9% | 90% |
| Management EBITDA (non-GAAP) | 50% | 102.7% | 110% |
| Operating Cash Flow (non-GAAP) | 40% | 106.1% | 125% |
| Total AIP Payout (weighted) | — | — | 114% of target |
Equity award structures relevant to President-level roles (post-IPO in 2024):
- RSUs granted to President-level NEOs (Ashmun, Prebble) vest upon a “Liquidity Event” (sale conditions), aligning long-term value realization; vesting requires continuous service until Liquidity Event .
- Examples:
- Ashmun: 75,000 RSUs granted Nov 23, 2024; grant date fair value $2,149,500; Liquidity Event vesting .
- Prebble: 15,000 RSUs granted Nov 23, 2024; grant date fair value $429,900; Liquidity Event vesting .
Equity Ownership & Alignment
- Stock ownership guidelines: Presidents must hold shares equal to 1.5x annual base salary; five years to comply; until compliant, must retain at least 50% of net-settled shares .
- Hedging policy: Prohibits hedging/derivative transactions that offset decreases in company equity value for covered persons (directors, officers, employees) .
- Pledging: Proxy discloses hedging prohibitions; a specific pledging prohibition is not explicitly stated .
- Liquidity Event gating: Many equity awards for senior roles vest upon a defined Liquidity Event tied to sponsor exit thresholds, deferring vesting and potentially reducing near-term selling pressure .
- Beneficial ownership (Krekeler): Not disclosed in the 2025 proxy; attempted to retrieve Form 4 insider data via insider-trades skill but the endpoint returned 401 Unauthorized (no data available). We searched for SARO Form 4 filings for “Gregory Krekeler” (filing- and transaction-date range 2025-01-01 to 2025-11-19) but could not access the API. We will update if access is restored.
Employment Terms
- Appointment: President, CRS effective September 22, 2025; Ashmun supporting transition through year end .
- Severance/change-in-control frameworks (role benchmarks from President-level NEO offer letters; Gregory’s agreement not yet disclosed):
- Severance on termination without cause: 6 months of base salary for Presidents (Ashmun, Prebble); non-compete 12 months; non-solicit 24 months; confidentiality and IP protection; non-disparagement .
- Equity acceleration: Change-in-control does not accelerate equity unless it also constitutes a Liquidity Event; unvested performance-based restricted shares can vest upon Liquidity Event if MOIC of 2.5x is determined .
- Clawback: Mandatory recovery of erroneously received incentive compensation for current/former officers over a three-year lookback following an accounting restatement per Rule 10D‑1 .
- Tax gross-ups: Company does not provide excise tax gross-ups under Section 4999 for change-in-control payments .
- Perquisites: President-level roles receive automobile allowance; typical employee benefits (401(k) match, health and welfare) .
Performance & Track Record
-
Leadership experience: More than 20 years in aerospace/defense; deep supply chain and procurement leadership; prior engineering/program leadership at McDonnell Douglas; recent success leading StandardAero’s Maryville facility .
-
Company/segment operating performance around appointment:
- CRS Q2 performance and YoY comparison:
Metric Q2 2024 Q2 2025 CRS Total Segment Revenue ($000s) 135,737 178,266 CRS Segment Adjusted EBITDA ($000s) 34,528 51,640 CRS Segment Adj. EBITDA Margin (%) 25.4 29.0 - Company guidance (Aug 13, 2025): Raised 2025 revenue to $5,875–$6,025 million and Adjusted EBITDA to $790–$810 million; leverage improved to ~3.0x; raised due to strong segment performance despite supply chain/tariff headwinds .
- Guidance reaffirmation (Sept 22, 2025): Company confirmed full-year 2025 guidance .
-
Proxy pay-versus-performance context: TSR of 75.60 from IPO (Oct 2, 2024) to Dec 31, 2024; Compensation Actually Paid reflects large equity valuation adjustments driven by performance/reported fair values (see proxy table) .
Board Governance (Context)
- Compensation governance: Compensation Committee (Brandely—Chair; McElhinney; Weingartner) oversees NEO compensation and incentive plan design; Korn Ferry engaged as independent consultant; market data Reference Group used for benchmarking .
- Controlled company: Carlyle controls >50% voting power; company may rely on certain NYSE governance exemptions though not currently electing them; Board leadership combined CEO/Chair with lead independent director .
Compensation Structure Analysis
- At-risk pay emphasis: 2024 AIP weighting favored Management EBITDA (50%) and operating cash flow (40%), aligning payouts with profitability/cash generation; Revenue had 10% weight; total AIP payout at 114% of target based on performance .
- Equity risk profile: President-level RSUs tied to Liquidity Event rather than time-only vesting; defers vesting, increasing retention but reduces near-term sale pressure and can concentrate value around sponsor exit timing .
- No gross-ups/clawback adoption: Shareholder-friendly policies—no 4999 excise tax gross-ups and adoption of SEC clawback rule—reduce governance red flags .
Related Party Transactions / Risk Indicators
- Insider trading policy: Hedging prohibited for covered persons; designed to align insider objectives with shareholders .
- Material weaknesses (historical disclosure): Company reported pre-IPO internal control material weaknesses remedied through auditor change and remediation efforts; audit committee oversight in 2024 .
Say‑on‑Pay & Shareholder Feedback
- Non‑binding say‑on‑pay and say‑on‑frequency proposals brought to the 2025 Annual Meeting; board recommended annual frequency and approval of NEO compensation; voting outcomes not included in the proxy excerpt .
Expertise & Qualifications
- Degrees: MBA (Washington University Olin), MS Aero Eng (Missouri S&T), BS Aero Eng (University of Kansas) .
- Technical/operational depth: Extensive OEM/supplier relationship management and supply chain risk management; operational excellence emphasis per appointment release .
Work History & Career Trajectory
- StandardAero: Joined 2022 (VP & GM Maryville); appointed CRS President Sept 22, 2025 .
- Boeing/McDonnell Douglas: Multi‑decade path through engineering, program leadership, and supply chain/procurement executive roles across US/UK .
Employment Terms (Summary Table)
| Term | President-Level (Proxy context) | Gregory Krekeler (Disclosed) |
|---|---|---|
| Appointment date | — | Sept 22, 2025 |
| Severance (termination without cause) | 6 months’ base salary; non‑compete 12 months; non‑solicit 24 months | Not disclosed |
| Equity vesting at change‑in‑control | No acceleration unless Liquidity Event; MOIC 2.5x can vest performance tranches | Not disclosed |
| Clawback | 3‑year lookback for restatements per Rule 10D‑1 | Company‑wide policy applies |
| Ownership guidelines | Presidents: 1.5x base salary; 5‑year compliance; 50% net share retention until compliant | Applies given role |
| Hedging/Pledging | Hedging prohibited; pledging not explicitly stated | Applies given role |
Investment Implications
- Retention and alignment: Liquidity Event‑based RSU structures at the President level and 1.5x salary ownership guidelines promote long‑term alignment and can dampen near‑term selling pressure; clawback adoption and no excise tax gross‑ups are governance positives .
- Compensation linked to operating quality: Prior AIP weighting emphasizes EBITDA and cash flow, aligning executive pay to profitability/cash generation—relevant given CRS margin expansion in Q2 2025 and the company’s raised 2025 guidance .
- Data gaps: Gregory’s specific 2025 compensation, equity grants, and current beneficial ownership are not yet disclosed in filings; attempted insider Form 4 retrieval failed due to API authorization—monitor subsequent 8‑K/DEF 14A updates for definitive terms and ownership, and watch for any pledging/hedging disclosures (insider Form 4 API attempt documented above).
- Execution risk and opportunity: His deep supply chain/OEM experience aligns with CRS growth priorities; segment performance momentum (revenue and margin expansion) provides an operational tailwind for incentive realizations under EBITDA/cash flow frameworks .