Russell Ford to Retire as CEO After Accomplished 13-Year Tenure; Will Remain as Executive Chairman through Year-End
Paul McElhinney Appointed Chief Executive Officer Effective October 1, 2026
StandardAero (NYSE:SARO), a leading independent pure-play provider of aerospace engine aftermarket services, today announced that, after 13 years leading the Company and 45 years in the aerospace industry, Russell Ford has informed the Board of Directors of his decision to retire as Chief Executive Officer. The Board of Directors has appointed Paul McElhinney, a 35-year industry veteran and the Company's current Lead Independent Director, to succeed Mr. Ford as CEO effective October 1, 2026.
Mr. Ford will work closely with Mr. McElhinney to facilitate a seamless leadership transition and will continue to serve as Executive Chairman of StandardAero's Board of Directors through December 31, 2026. Mr. McElhinney will become Chairman effective January 1, 2027, and Mr. Ford will continue to serve on the Board thereafter.
Mr. Ford, who has served as CEO since 2013, has led StandardAero through a remarkable period of transformation and growth. During his tenure, the Company increased annual revenue from $1.6 billion in 2013 to more than $6 billion in 2025, while significantly expanding its global footprint, broadening its capabilities, increasing its profitability and strengthening its relationships with leading operators and OEMs. Mr. Ford also guided StandardAero through its initial public offering in 2024, positioning the Company for continued long-term growth. Since becoming a public company, StandardAero has consistently delivered strong operational and financial performance, including revenue and earnings growth and backlog expansion.
Mr. McElhinney, who serves as Senior Operating Partner and Co-Head of the Portfolio Strategy and Optimization Group at AE Industrial Partners, LP, brings more than three decades of aerospace and industrial leadership experience and has been a member of the Company's Board since 2019. He previously served as President and CEO of both GE Power Services, a $15 billion power generation aftermarket business, and GE Aviation Services, where he was responsible for more than doubling the backlog of the business to over $100 billion. He also held General Counsel and Business Development roles at GE Aviation and GE Capital Aviation Services over the course of his thirty-year career at General Electric.
"On behalf of the Board, we congratulate Russ on an extraordinary tenure leading StandardAero and thank him for his exceptional leadership and lasting contributions to the Company," said Doug Brandely, Director, StandardAero. "Under Russ' leadership, StandardAero has grown into a market leader, delivered significant value and established strong momentum across the business. After accomplishing the ambitious goals he set out to achieve, Russ has made the decision to retire with the Company well positioned for continued success."
Mr. Brandely continued, "Paul's appointment as CEO is the culmination of the Board's thoughtful succession planning process. He is a seasoned industry leader with a deep and unique understanding of StandardAero's strategy, customers and culture, and the Board is confident he is the right person to build on that momentum and guide StandardAero through its next chapter."
"It has been a privilege to lead the StandardAero team as CEO over the past 13 years," said Mr. Ford. "Together, we have strengthened our portfolio, deepened our customer relationships and continued to deliver value to shareholders with strong financial performance. I have worked closely with Paul over the past several years in his capacity as Lead Independent Director and am excited about the future of StandardAero with him at the helm. I look forward to supporting a seamless transition of leadership and continuing to contribute on the Board."
"StandardAero plays a critical role in the aerospace aftermarket and, with robust demand across all its end markets and a clear trajectory for continued growth, is well positioned to capture the market opportunity ahead," said Mr. McElhinney. "I am honored to be appointed the next CEO of the Company and look forward to building on the strong foundation Russ and the team have established as we continue to deliver for our customers and shareholders."
StandardAero is a leading independent pure-play provider of aerospace engine aftermarket services for fixed- and rotary-wing aircraft, serving the commercial, military and business aviation end markets. StandardAero provides a comprehensive suite of critical, value-added aftermarket solutions, including engine maintenance, repair and overhaul, engine component repair, on-wing and field service support, asset management and engineering solutions. StandardAero is an NYSE listed company under the ticker symbol SARO. For more information about StandardAero, go to www.standardaero.com.
Forward-Looking Statements
This press release contains forward-looking statements that involve substantial risks and uncertainties. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. In some cases, you can identify forward-looking statements by the words "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "seek," "should," "will" or "would" and/or the negative of these terms, or other comparable terminology intended to identify statements about the future. These statements include statements regarding our intentions, beliefs or current expectations concerning, among other things, the expected timing and impact of the executive transition, the future composition of the Board of Directors, and our results of operations, financial condition, liquidity, prospects, growth and strategies. These statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from the information expressed or implied by these forward-looking statements. Factors that could cause actual results to differ materially from those forward-looking statements include, among others, risks described in our Annual Report on Form 10-K for the year ended December 31, 2025 and our other filings with the Securities and Exchange Commission. As a result of these factors, we cannot assure you that the forward-looking statements in this press release will prove to be accurate. In light of the significant uncertainties in these forward-looking statements, you should not regard these statements as a representation or warranty by us or any other person that we will achieve our objectives or plans in any specified time frame or at all. All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by the foregoing cautionary statements. Forward-looking statements speak only as of the date of this press release. We do not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260601253698/en/
Media Contact:
Jake Saylor, VP Marketing & Communications
+1 602-209-1029
Jake.saylor@standardaero.com
Investor Contact:
Rama Bondada, VP Investor Relations
+1 480-377-3196
Rama.bondada@standardaero.com