Hexcel Corporation Announces Board Chair Transition, Director Appointment and Departure

Stamford, Connecticut – Hexcel Corporation (NYSE: HXL) disclosed in a recent 8-K filing a series of significant changes to its board and governance structure. The filing detailed the departure of a key executive, the appointment of a new director, and adjustments to the board’s leadership.

Nick L. Stanage, who previously held the positions of President, Chief Executive Officer, and Chairman of the Board, transitioned to the role of Executive Chairman of the Board effective May 1, 2024. Concurrently, Thomas C. Gentile III was appointed as the new Chief Executive Officer and President of the company. On November 30, 2024, Mr. Stanage retired from his employment, though he will continue to serve as a non-employee member of the Board. Effective December 5, 2024, Mr. Gentile assumed the role of Chairman of the Board, succeeding Mr. Stanage. The Board also confirmed the continuation of the lead independent director role, currently held by Jeffrey C. Campbell.

Furthermore, Hexcel Corporation announced the appointment of David Li to its Board, effective January 1, 2025. Mr. Li, 52 years old, brings a wealth of experience in executive roles, including serving as Chief Executive Officer, President, and board member of CMC Materials. He is also involved in several other board positions such as Maxeon Solar Technologies and CoorsTek. Mr. Li’s appointment expands the size of the Board from 9 to 10 members.

In a separate development, Thomas A. Gendron communicated to the Board his decision not to stand for reelection at the Company’s 2025 Annual Meeting of Stockholders. Mr. Gendron had been a board member since 2010 and was part of the Compensation Committee.

The announcement came as part of an 8-K filing that also included details of the financials and the remedial measures initiated. Hexcel Corporation recently disclosed its financial statements and exhibits, outlining adjustments to its director compensation program and related financial implications. The company reiterated its commitment to operational and capital expenditure savings to align with its 2025 financial goals.

The changes reflect Hexcel Corporation’s proactive approach to board composition and governance, aiming to enhance its strategic leadership and governance practices in alignment with evolving business requirements.

No further details were immediately available regarding the future plans of Hexcel Corporation following these recent governance changes. Investors and shareholders will be keenly observing how these alterations play out in the company’s evolving trajectory.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Hexcel’s 8K filing here.

Hexcel Company Profile

Hexcel Corporation develops, manufactures, and markets carbon fibers, structural reinforcements, honeycomb structures, resins, and composite materials and parts for use in commercial aerospace, space and defense, and industrial applications. It operates through two segments, Composite Materials and Engineered Products.