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    Patrick M. Shanahan

    President and Chief Executive Officer at Spirit AeroSystems Holdings Inc
    Board
    Since September 30, 2023
    Age
    62 years
    Education
    Holds a Bachelor of Science in Mechanical Engineering from the University of Washington and dual Master of Science degrees in Mechanical Engineering and Management Studies from the Massachusetts Institute of Technology (MIT).
    Tenure
    Joined the Board of Directors in November 2021 and became President and CEO on September 30, 2023, initially serving as interim CEO in October 2023 before assuming the permanent role.

    Also at Spirit AeroSystems Holdings Inc

    IME
    Irene M. Esteves
    Executive Vice President and Chief Financial Officer
    DCW
    Damon C. Ward
    Vice President and Corporate Controller

    About

    Patrick M. Shanahan is a seasoned executive with extensive experience in aerospace and defense, currently serving as the President and Chief Executive Officer of Spirit AeroSystems (SPR). His personal background includes being 62 years old as of the most recent information, and he brings a wealth of knowledge acquired from decades in both commercial and defense sectors.

    In his professional journey, he joined SPR's Board of Directors in November 2021 and assumed the role of President and CEO on September 30, 2023, marking a significant milestone in his career. His leadership at SPR is focused on stabilizing operations, enhancing cash flow, and meeting critical customer commitments during a crucial transition period.

    Before his tenure at SPR, he held several senior positions at The Boeing Company, managing major aircraft programs such as the B787 Dreamliner, and served the U.S. Department of Defense in pivotal roles including Deputy Secretary and Acting Secretary of Defense. His robust blend of industry expertise, advanced education, and strategic acumen underlines his commitment to driving innovation and operational excellence in the aerospace industry.

    $SPR Performance Under Patrick M. Shanahan

    Past Roles

    OrganizationRoleDate RangeDetails
    Spirit AeroSystemsNon-Employee DirectorNovember 2021 – September 2023Served on the Board before becoming CEO
    Department of DefenseActing Secretary of DefenseJanuary 2019 – June 2019Led advancements in cybersecurity, AI, and cloud computing
    Department of Defense33rd Deputy Secretary of DefenseJuly 2017 – January 2019Directed investments in space-based technology and AI systems
    The Boeing CompanySenior Vice President, Supply Chain & Operations2016 – 2017
    The Boeing CompanySenior Vice President and General Manager, Commercial Airplane Programs2008 – 2016Managed design and production of programs such as the B787 Dreamliner
    The Boeing CompanyVice President and General Manager, Boeing Missile Defense SystemsN/AResponsible for missile defense systems
    The Boeing CompanyVice President and General Manager, Boeing Rotorcraft SystemsN/AOversaw Boeing rotorcraft systems
    The Boeing CompanyVarious roles1986 – 2007Managed technology development and global supply chains

    External Roles

    OrganizationRoleDate RangeDetails
    Leidos Holdings, Inc.DirectorN/AActive position
    CAE, Inc.DirectorN/AActive position

    Fixed Compensation

    Data from  FY 2023
    Component NameAmountPayment ScheduleAdditional Details
    Base Salary$504,110 Partial year starting September 30, 2023 Annualized base salary of $2,000,000
    Life Insurance Contribution$233 AnnualLife insurance contribution
    2023 RSU Grant$8,000,000 One-time grant on September 30, 2023 Share-based compensation; calculated using closing price of $16.14 per share, approx. 495,654 shares
    2022 RS Grant$115,842 Vesting on May 9, 2023 4,775 shares acquired on vesting
    All Other Compensation$265,018 Paid in 2023Includes Financial & Tax Services $6,250, Personal Aircraft Usage $157,631, Personal Travel Expenses $359, Deferred Compensation $1,731, and Company Contributions $98,814
    Termination Without Cause/For Good Reason Benefits$15,752,138 At termination event; 2023 terms100% vesting of all time-based LTIP awards granted on September 30, 2023; no cash severance applicable
    Change in Control and Qualifying Termination Benefits$19,471,632 Contingent on change in control/qualifying termination eventCash Severance $3,500,000, RSU vesting value $15,946,632, Perquisite Plan $25,000

    Performance Compensation

    Data from  FY 2023

    No information available on performance compensation for 2023