Spirit CEO Lawson to retire in July

AP News
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Posted: Jun 08, 2016 3:05 PM

WICHITA, Kan. (AP) — Spirit AeroSystems announced Wednesday that the aviation company's CEO is retiring next month.

Larry Lawson, president and CEO of Wichita-based Spirit, plans to retire July 31. Lawson has been with Spirit since 2013.

The Wichita Eagle reports (http://j.mp/1U7I56e ) that Tom Gentile, Spirit's chief operating officer, will replace Lawson. Spirit said in a release that Gentile joined Spirit earlier this year after holding leadership positions at GE.

A Securities and Exchange Commission filing Wednesday showed Lawson will be retained as a consultant to the company for two years at an annual salary of $150,000 and will receive separation payments totaling $1.3 million and a cash award of $1.1 million for 2016.

Spirit employs about 14,800 people worldwide and in 2015 recorded $789 million in net income on revenue of $6.6 billion.

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Information from: The Wichita (Kan.) Eagle, http://www.kansas.com