(Reuters) -Aircraft component maker TransDigm Group on Wednesday said Kevin Stein will retire as chief executive officer and be succeeded by Mike Lisman, the current co-chief operating officer.
Stein will continue to serve as an advisor to the company through March 31, 2026, to help facilitate the leadership transition, the company said.
Lisman joined TransDigm in 2015 and has held multiple positions in the company, including that of CFO, before assuming the role of COO in May 2023.
Cleveland, Ohio-based TransDigm lowered its annual revenue forecast in August as its commercial original equipment manufacturing business grapples with lower demand from the aerospace industry amid supply chain snags and labor shortages, along with the added challenge of U.S. tariffs.
(Reporting by Aatreyee Dasgupta in Bengaluru)
