Woodward CFO to retire after second stint with company

FORT COLLINS — Bob Weber Jr. will retire from his role as chief financial officer of Woodward Inc. (Nasdaq: WWD) after about 25 years at that post.

In a statement, the Fort Collins airplane parts maker said Weber, 67, will step down Sept.30 and remain with the company for a short period of time as an advisor to CEO Tom Gendron. He will be replaced by Senior Vice President of Finance Mark Hartman.

Weber is ending his second tour with Woodward. He was CFO from August 2005 to September 2019 when he originally retired; he remained with the company as an advisor after it announced plans to merge with advanced-materials maker Hexcel Corp. (NYSE: HXL) in what would have been a $6 billion company.

However, he returned to full-time service last April after the pandemic and travel bans threw turbulence into the aerospace industry, replacing the new CFO Jack Thayer after just a handful of months on the job. The economic crisis grounded the Woodward-Hexcel merger, and Woodward later announced plans to downsize its U.S. staff by 15% to shore up its finances when it wasn’t clear when commercial flights would be safe again.

“We are tremendously grateful to Bob for his enduring commitment and dedication to Woodward,” Gendron said in a statement. “…His steady leadership was invaluable as we navigated the unprecedented environment wrought by the COVID-19 pandemic.”

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