Magellan Aerospace Corporation Announces Appointments

TORONTO, Nov. 13, 2014 /CNW/ – Magellan Aerospace Corporation (“Magellan Aerospace” or “Corporation”) announced today that Jim Butyniec will retire from the role of Chief Executive Officer on January 1, 2015. At that time, Mr. Butyniec will become Vice Chairman of the Magellan Board of Directors.

The Corporation extends its thanks to Mr. Butyniec for his contributions over the last decade and looks forward to his continued stewardship as a Board member.

Phil Underwood, President of the Corporation since May of this year, will be appointed President and Chief Executive Officer of Magellan Aerospace, effective January 1, 2015.

Messrs. Butyniec and Underwood have worked closely on this transition to ensure that Magellan Aerospace’s change in leadership will be smooth and seamless.

The Corporation congratulates both gentlemen and looks forward to continued success as they assume their new roles.