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    Spirit AeroSystems Holdings Inc (SPR)

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    Spirit AeroSystems Holdings, Inc. is one of the world's largest manufacturers of aerostructures, specializing in the design, engineering, and production of components for commercial airplanes, military platforms, and business/regional jets. The company offers a wide range of products, including fuselages, integrated wings, pylons, and nacelles, using both aluminum and advanced composite materials. Additionally, Spirit AeroSystems provides aftermarket services for maintenance, repair, and overhaul of aircraft components.

    1. Commercial Segment - Designs and manufactures aerostructures such as fuselage sections, nacelles, struts/pylons, stabilizers, flaps, slats, and wing structures for commercial and business/regional jet programs.
    2. Defense & Space Segment - Develops and produces aerostructures for fixed-wing aircraft, missiles, hypersonics, and rotorcraft for U.S. Government defense programs.
    3. Aftermarket Segment - Offers maintenance, repair, and overhaul services for aircraft components, supporting both commercial and military platforms.
    NamePositionExternal RolesShort Bio

    Irene M. Esteves

    ExecutiveBoard

    Executive Vice President and Chief Financial Officer

    Director at Roper Technologies ; Director at KKR Real Estate Finance Trust Inc.

    Irene M. Esteves is a seasoned finance leader who currently serves as the Executive Vice President and Chief Financial Officer at SPR, a role she assumed on June 4, 2024. She has demonstrated extensive expertise in corporate finance and governance through her previous roles at Time Warner Cable, XL Group plc, and Regions Financial Corporation. Furthermore, her board directorships at Roper Technologies and KKR Real Estate Finance Trust Inc. highlight her commitment to robust corporate oversight and strategic leadership beyond SPR.

    Patrick M. Shanahan

    ExecutiveBoard

    President and Chief Executive Officer

    Director at Leidos Holdings, Inc. (since 2022); Director at CAE, Inc. (since 2022); Director at Zanite Acquisition Corporation (2021-2022)

    Patrick M. Shanahan is currently the President and Chief Executive Officer of Spirit AeroSystems, having assumed the role in September 2023. He has served as a member of the Board of Directors since November 2021, adding his extensive experience in aerospace and defense. Prior to his current appointment at SPR, he held numerous leadership positions, notably at Boeing and in the U.S. Department of Defense, where he contributed to major commercial and defense initiatives. His robust background in managing complex operations has been pivotal in guiding SPR during its leadership transition.

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    Damon C. Ward

    Executive

    Vice President and Corporate Controller

    Damon C. Ward holds the position of Vice President and Corporate Controller at SPR and is designated as the Principal Accounting Officer. He has signed multiple key reports including the Q1 2024 10-Q on May 7, 2024 , the FY 2024 10-K on February 28, 2025 , and other filings as noted on August 2, 2023 and November 5, 2024. The documents, however, do not provide further details about his prior career history, additional roles, or board memberships. Overall, his current role at SPR is the primary focus of the available information.

    James R. Ray

    Board

    Independent Director

    President and CEO of Commercial Vehicle Group, Inc.; Board member of Commercial Vehicle Group, Inc.; Board member of Leslie’s, Inc.; Board member of RR Donnelley & Sons Co.

    James R. Ray, Jr. serves as an Independent Director at Spirit AeroSystems Holdings, Inc. since 2022. He brings extensive expertise in supply chain management, business transformation, and strategy development from his leadership roles at companies including Stanley Black & Decker, TE Connectivity, General Motors, and Delphi Corporation. In addition, he is the President and CEO of Commercial Vehicle Group, Inc. since 2023 , further demonstrating his versatile leadership. His combined board experience and executive roles underscore his solid background in corporate governance and strategic business integration.

    John L. Plueger

    Board

    Independent Director

    Chief Executive Officer and President of Air Lease Corporation (2016–present); President and Chief Operating Officer of Air Lease Corporation (2010–2016); President and Chief Executive Officer of International Lease Finance Corporation (2010); President and Chief Operating Officer of International Lease Finance Corporation (2002–2010)

    John L. Plueger has been serving as an Independent Director at Spirit AeroSystems Holdings, Inc. (SPR) since 2014. He brings over 35 years of experience in aviation operations management, finance, and accounting, and qualifies as an audit committee financial expert under SEC rules. Before joining SPR, he held key leadership roles at Air Lease Corporation and International Lease Finance Corporation, which provided him with broad operational and financial expertise. His extensive background enhances his contributions to SPR’s board oversight and governance.

    Laura H. Wright

    Board

    Independent Director

    TE Connectivity Ltd.; CMS Energy Corp.; JOBY Aviation, Inc.

    Laura H. Wright has served as an independent director at Spirit AeroSystems Holdings, Inc. since 2018. In her current role, she is the Chair of the Governance Committee and a member of the Risk Committee. With a robust background in corporate finance, accounting, and risk management, she has previously held senior positions at Southwest Airlines and garnered valuable experience as a certified public accountant. Her multifaceted expertise provides strong governance oversight and valuable industry insights at SPR.

    Paul E. Fulchino

    Board

    Independent Director

    Operating Partner, AE Industrial Partners (2015-2023); Chairman, AEI HorizonX Ventures (2021-2023); Senior Advisor, Boeing (2010-2014); Chairman, President, and Chief Executive Officer, Aviall, Inc. (2000-2010); President and Chief Operating Officer, B/E Aerospace, Inc. (1996-1999); President and Vice Chairman, Mercer Management Consulting (1990-1996); Director at BigBear.ai (2021-present); Director at Wesco Aircraft Holdings, Inc. (2008-2020)

    Paul E. Fulchino has been serving as an Independent Director at Spirit AeroSystems Holdings, Inc. since 2006. In this role, he contributes to corporate governance through his responsibilities as the Chair of the Compensation Committee and a member of the Governance Committee. His extensive background in the aviation industry is highlighted by his previous executive roles at companies such as AE Industrial Partners, AEI HorizonX Ventures, Boeing, Aviall, Inc., B/E Aerospace, Inc., and Mercer Management Consulting. This diverse experience in leadership and board governance has enhanced his contributions at SPR and in his external appointments.

    Robert D. Johnson

    Board

    Chair of the Board

    CEO of Dubai Aerospace Enterprise Ltd. (2006-2008); Chairman of Honeywell Aerospace (2005-2006); President and Chief Executive Officer of Honeywell Aerospace (1999-2005); President and Chief Executive Officer of Electronic and Avionics Systems at Honeywell Aerospace (1997-1999); Director at Roper Technologies, Inc. (since 2005); Director at Spirit Airlines, Inc. (since 2010)

    Robert D. Johnson is the Chair of the Board at Spirit AeroSystems Holdings, Inc. and has been a director since 2006. He has built an extensive career in the aerospace industry with deep expertise in risk management, financial oversight, and operations. Previously, he led companies as the CEO of Dubai Aerospace Enterprise Ltd. (2006-2008) and held top positions at Honeywell Aerospace. Additionally, his board roles at Roper Technologies, Inc. and Spirit Airlines, Inc. further demonstrate his industry leadership.

    Ronald T. Kadish

    Board

    Independent Director

    Consultant at Raytheon (2018-2019); Senior Executive Advisor, Booz Allen Hamilton (2015-2019); Executive Vice President, Booz Allen Hamilton (2005-2015); Director, U.S. Missile Defense Agency, U.S. Department of Defense (2002-2004); Director, Ballistic Missile Defense Organization, U.S. Department of Defense (1999-2001); Commander, Electronic Systems Center, Hanscom Air Force Base (1996-1999)

    Ronald T. Kadish has served as an Independent Director at Spirit AeroSystems Holdings, Inc. since 2006. He contributes to the board by chairing the Risk Committee and serving on the Governance Committee, providing critical oversight in risk management and cybersecurity. With nearly three decades of military service, including attainment of the rank of Lieutenant General, he brings extensive experience from senior roles in defense, government, and consulting. His previous roles include significant tenures at Booz Allen Hamilton and Raytheon, enriching his perspective as a board member.

    William A. Fitzgerald

    Board

    Independent Director

    Vice President, Commercial Engines at GE Aviation (2011–2021); Vice President, GEnx Engine Program at GE Aviation (2010–2011)

    William A. Fitzgerald is an independent director at Spirit AeroSystems Holdings, Inc. since 2021. He brings extensive leadership experience from his previous roles at GE Aviation, where he served as Vice President, Commercial Engines (2011–2021) and Vice President, GEnx Engine Program (2010–2011). At SPR, he contributes to the Audit and Governance Committees and is slated to become Chair of the Compensation Committee following the 2024 Annual Meeting of Stockholders. His expertise in manufacturing, operations, and engineering supports SPR’s strategic oversight and operational excellence.

    1. Given the significant forward losses recorded on the A350 ($281 million) and A220 ($167 million) programs due to unsuccessful negotiations with Airbus, what concrete steps are you taking to resolve the pricing disputes and prevent further financial impact?

    2. With the FAA's critical audit findings of 28 documented issues, and the need to implement extensive changes to your inspection processes, how confident are you in meeting your delivery schedules, and what measures are in place to mitigate the risk of further production delays?

    3. Considering the labor scarcity challenges in both Wichita and Belfast, as well as the need to ramp up production significantly—for example, a 52% increase on the A220 this year—how do you plan to attract and retain skilled workers to meet your production targets without compromising quality? ,

    4. Despite the improvements in quality from the new joint verification process with Boeing, the delays have led to higher inventory and negative cash flow, with free cash flow usage of $444 million in Q1; when do you expect these operational changes to translate into positive financial performance, and how will you manage liquidity in the meantime?

    5. With ongoing discussions about a potential acquisition by Boeing and the inherent value Spirit brings, why should shareholders consider selling now, especially when future operational improvements could enhance margins and cash flows independently? , ,

    Program DetailsProgram 1
    Approval DateOctober 28, 2018
    End Date/DurationNot specified (ongoing)
    Total Additional Amount$1.0 billion
    Remaining Authorization$925.0 million as of 2025-03-12
    DetailsCurrently on hold due to restrictions imposed by the Credit Agreement

    Competitors mentioned in the company's latest 10K filing.

    CompanyDescription

    In commercial aerostructures, the company faces competition from OEMs, including this entity, which performs work internally. Additionally, this entity is a competitor in the defense aerostructures market.

    This entity, along with its wholly-owned subsidiaries Airbus Atlantic and Premium Aerotec GmbH, is a principal competitor among OEMs in commercial aerostructures.

    Aernnova

    This entity is listed as a principal competitor among non-OEM tier-1 aerostructures suppliers in commercial aerostructures.

    GKN Aerospace

    This entity competes as a non-OEM tier-1 aerostructures supplier in commercial aerostructures and also in the defense aerostructures market.

    Kawasaki Heavy Industries, Inc.

    This entity is identified as a competitor among non-OEM tier-1 aerostructures suppliers in commercial aerostructures.

    Mitsubishi Heavy Industries

    This entity is listed as a competitor among non-OEM tier-1 aerostructures suppliers in commercial aerostructures.

    Safran Nacelles

    This entity competes as a non-OEM tier-1 aerostructures supplier in commercial aerostructures.

    Sonaca

    This entity is mentioned as a competitor among non-OEM tier-1 aerostructures suppliers in commercial aerostructures.

    Airbus Atlantic

    This subsidiary of Airbus is listed as a competitor among non-OEM tier-1 aerostructures suppliers in commercial aerostructures.

    Airbus Aerostructures

    This entity is identified as a competitor among non-OEM tier-1 aerostructures suppliers in commercial aerostructures.

    This entity competes as a non-OEM tier-1 aerostructures supplier in commercial aerostructures and also in the defense aerostructures market.

    Leonardo

    This entity is listed as a competitor among non-OEM tier-1 aerostructures suppliers in commercial aerostructures and also competes in the defense aerostructures market.

    Turkish Aerospace Industries, Inc.

    This entity competes as a non-OEM tier-1 aerostructures supplier in commercial aerostructures and also in the defense aerostructures market.

    Latecoere S.A.

    This entity is identified as a competitor among non-OEM tier-1 aerostructures suppliers in commercial aerostructures.

    This entity is listed as a competitor in the defense aerostructures market.

    This entity competes in the defense aerostructures market.

    Collins Aerospace

    This entity is mentioned as a competitor in the defense aerostructures market.

    This entity is identified as a competitor in the defense aerostructures market.

    Albany Engineered Composites

    This entity competes in the defense aerostructures market.

    Korea Aerospace Industries

    This entity is listed as a competitor in the defense aerostructures market.

    CustomerRelationshipSegmentDetails

    Boeing

    Largest customer; sole-source for nearly all products

    All

    Contributed 58% of net revenue in 2024 ($3,693.1 million ) and 30% of accounts receivable.

    Airbus

    Second-largest customer; sole-source for nearly all products

    All

    Contributed 21% of net revenue in 2024 ($1,334.9 million ) and 28% of accounts receivable.

    Notable M&A activity and strategic investments in the past 3 years.

    CompanyYearDetails

    Fiber Materials Inc.

    2025

    Acquisition completed where Spirit AeroSystems sold Fiber Materials Inc. to Tex-Tech Industries for $165 million in cash, completed on January 13, 2025. The deal added high-temperature materials and reinforced composite capabilities—key for space and defense applications—to Tex-Tech's portfolio.

    No recent press releases or 8-K filings found for SPR.