Woodward CFO to retire next year, company appoints successor

FORT COLLINS — Woodward Inc. (Nasdaq: WWD) announced Vice Chairman and Chief Financial Officer Robert F. Weber, Jr. plans to retire on Jan. 3, 2020.

Weber served as CFO for more than 14 years.

“During his time with Woodward, Bob has demonstrated strong leadership and financial excellence, playing a key role in the development of our long-term strategy and business priorities,” Thomas A. Gendron, Woodward chairman and CEO, said in a prepared statement. “He has been an outstanding partner and key contributor to Woodward’s growth and success, and we appreciate Bob’s commitment to ensure a smooth transition.”

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Jack Thayer has joined the company to serve as Weber’s successor. Thayer will serve as vice chairman for corporate operations and report to Gendron. On Oct. 1, 2019, Thayer will be appointed CFO. That date marks the beginning of Woodward’s 2020 fiscal year. Weber will transition into a senior consulting role to support Gendron and the senior leadership team through his January 2020 retirement date.

Thayer’s background is in corporate finance and strategy, equity offerings, complex M&A transactions and risk management. He served as CFO of Exelon Corp., a Fortune 100 company, from 2012 until his appointment in May 2018 as chief transformation officer.

“Jack is a broad-based business leader, strategist and financial expert, with a decade of CFO experience for Fortune 500 companies,” Gendron said. “As a Woodward board member, he has demonstrated his broad understanding of our markets, operations and the risks of a highly complex industry. His experience leading across periods of growth, maturation and disruption will help position Woodward for continued growth and success into the next decade and beyond.”