Aerojet CFO Kathy Redd leaves post at short notice

  • Significant signs for push-out forces
  • After almost eight years on the job
  • Laud, praise and thanks for Redd
  • Paul Lundstrom to take over

(management-change.com) — Sacramento, California, October 25, 2016 — Kathy Redd, finance chief of Aerojet, leaves. It is a change at short notice. As announced by Aerojet Rocketdyne Holdings, Inc. in a news release and in a regulatory filing published on Tuesday, October 25, 2016, Kathleen E. (Kathy) Redd leaves the post as chief financial officer at the company after almost eight years on the job, effective November 07, 2016.

Redd’s duties are taken over by Paul R. Lundstrom, most recently vice president of Investor Relations at United Technologies Corporation.

The fact that Redd’s successor is brought in from outside suggests that the board may seek to stimulate change with fresh ideas and new initiatives.

No reason given

In the announcement, Aerojet did not explicitly explain the reason for Redd’s imminent move, opening the door for speculation.

“Leaving”

Aerojet said: Kathy Redd “will be leaving next spring after 14 years with the company”.

Redd will remain with Aerojet Rocketdyne through the filing of the company’s 2016 Annual Report.

Precise information about the future plans of Redd was not immediately available.

Chaired by Warren G. Lichtenstein

Aerojet Rocketdyne Holdings, Inc. is chaired by Warren G. Lichtenstein.

He has been Director since 2008 and Executive Chairman since June 2016.

Eileen P. Drake serves as CEO of Aerojet Rocketdyne Holdings, Inc. Drake has been the Chief Executive Officer and President of Aerojet Rocketdyne Holdings, Inc. since June 01, 2015.

On the job as CFO since 2009

Kathleen E. Redd, the Company’s current Chief Financial Officer, will assist Lundstrom in this transition and continue to support the Company through the filing of its 2016 Annual Report.

Kathleen E. Redd’s career milestones are as follows.

  • Vice President, Chief Financial Officer (since January 2009), and Assistant Secretary of the Company (since March 2012)
  • Secretary, February 2009 – March 2012
  • Vice President, Controller and Acting Chief Financial Officer September 2008 – January 2009;
  • Vice President, Finance 2006 – 2008
  • Assistant Corporate Controller, 2002 – 2006
  • Acting Vice President Controller GDX Automotive, 2003 – 2004 (concurrent with Assistant Corporate Controller position during divestiture activities)
  • Vice President, Finance, for Grass Valley Group, 2001 – 2002
  • Vice President, Finance for JOMED, Inc., 2000 – 2001
  • Controller for EndoSonics Corporation, 1996 – 2000.

Significant signs for push-out forces

It is not completely certain what forces eventually triggered Kathy Redd’s move.

The Push-out Score™ determined by management-change.com suggests significant signs for push-out forces that may have contributed to the management change.

Read the full story in the management-change.com report 40.2016 ($).