- After around ten years on the job
- Laud, praise and words of regret for Pensky
(exechange) — Stamford, Connecticut, May 08, 2017 — Wayne Pensky, finance chief of Hexcel, hands over the reins. As announced by Hexcel Corporation in a news release and in a regulatory filing published on Monday, May 08, 2017, Wayne Charles Pensky leaves the post as Chief Financial Officer at the adhesive manufacturing company in a surprising move after around ten years on the job, effective September 01, 2017.
It is the end of an era.
Pensky leaves the company effective December 31, 2017.
Pensky’s duties are taken over by Patrick Winterlich, currently Senior Vice President – Tax, Systems & Enterprise Reporting at Hexcel Corporation.
No reason given
In the announcement, Hexcel did not explicitly explain the reason for Pensky’s move.
Precise information about the future plans of Pensky was not immediately available.
Hexcel said: “On May 4, 2017, Wayne C. Pensky, our Executive Vice President and Chief Financial Officer, notified our Board of Directors of his intention to retire, effective December 31, 2017.”
Share price rise since March 2009
The change follows a rise in the share price of Hexcel Corporation since March 2009.
Chaired by Nick Stanage
Hexcel Corporation is chaired by Nick Stanage.
Stanage became a director and President and Chief Executive Officer on August 1, 2013 and became Chairman of the Board on January 1, 2014.
On the job as CFO since 2007
Wayne Charles Pensky has been the Chief Financial Officer of Hexcel Corporation since April 27, 2007 and Executive Vice President since May 2016.
Pensky joined Hexcel in 1993 and spent about five years as Corporate Controller and Chief Accounting Officer.
He also was Vice President, Finance and Controller of the Company’s composites global business unit from 1998 to 2007.
Prior to joining Hexcel Pensky was a partner at Arthur Andersen & Co., where he had been employed since 1979.
Pensky has a degree in applied math and a graduate degree in finance, both from the University of California – Berkeley.
On September 1, 2017, Pensky will transition into the role of Special Advisor to the Chief Executive Officer.
Read the full story in the exechange report 20.2017 ($).