Woodward streamlines organizational structure, leadership
FORT COLLINS — Woodward Inc. (Nasdaq: WWD) has consolidated its aerospace and industrial organizational structure in a move it says is “designed to enhance the sales experience for customers, simplify operations and increase profitability through improved execution.”
Fort Collins-based Woodward designs, manufactures and services energy-conversion and control solutions for the aerospace and industrial equipment markets.
In its aerospace segment, the aircraft turbine systems and aero systems business groups will be combined. Terry Voskuil, who previously served as president of the aircraft turbine systems business group, will serve as president of the consolidated segment, and Roger Ross, who previously served as aero systems president, will take on the role of senior vice president for missiles and space to lead that market-development effort.
In Woodward’s industrial segment, the engine systems and turbomachinery systems business groups will be combined, and Randy Hobbs will join the company as segment president. Before joining Woodward, Hobbs spent more than three decades in leadership roles at General Electric, most recently as senior executive director for rotating parts and compressor airfoils. He holds bachelor’s and master’s degrees from the University of Dayton.
Jeff Stewart, who has been vice president and general manager for turbomachinery systems, is entering into phased retirement from Woodward after almost three decades with the company. Sagar Patel, who had been president of the engine-systems segment, is leaving Woodward.
“The changes we are making to our business structure and leadership will reduce complexity and improve operational performance to better serve our customers,” said Chip Blankenship, who joined Woodward in May as board chair and chief executive, in a prepared statement.
Blankenship praised Hobbs as “a proven leader with decades of experience leading business units through lean transformations,” and expressed confidence that he and Voskuil “will bring strong leadership to our industrial and aerospace businesses,” and that Ross “will bring important focus to our high-growth missiles and space opportunity.
“These changes will better position us to capitalize on the strong demand in our end markets,” Blankehship said, “and I look forward to working with our entire team to deliver value to our customers and shareholders.”
He thanked Patel “for his many contributions to Woodward over the past decade, and I wish him all the best.”