Neal Keating, who has led Bloomfield aerospace and medical device manufacturer Kaman Corporation since 2007, will retire Sept. 8 as president and CEO.
Kaman announced its leadership transition plans Aug. 20. Keating will be succeeded by Ian Walsh, who previously served as chief operating officer of speciality vehicle manufacturer REV Group, Inc.
Keating will continue to chair Kaman's board of directors through the company's 2021 annual meeting.
The company also announced the Sept. 30 retirement of company executive vice president and Kaman Aerospace Group president Richard Barnhart.
"It has been a privilege to lead Kaman for the past 13 years and especially during the past several months, which was perhaps the most volatile period we all have faced in our careers," Keating said in a statement.
"I am incredibly proud of what our team has achieved together, including the recent sale of our former distribution business and the acquisition of Bal Seal Engineering, and I believe that the company is strategically positioned for long-term growth."
Growth, Supply Chain Expansion
CBIA president CEO Chris DiPentima praised Keating's tenure at Kaman, noting the company's growth and expansion of its supply chain under his leadership.
"Neal Keating had a major impact in Connecticut since joining Kaman and eventually succeeding Charlie Kaman as CEO," DiPentima said.
"Under his leadership, Kaman has been a tremendous corporate citizen and a primary collaborator in expanding and growing Connecticut's manufacturing supply chain, a critical $30 billion sector of our economy with over 4,000 manufacturers supporting over 150,000 well-paying jobs.
"CBIA and our affiliates CONNSTEP and ReadyCT congratulate Neal on his amazing career and upcoming retirement.
"We very much look forward to working closely with Ian Walsh and the rest of the Kaman team to make Connecticut economically competitive so that we can realize our potential for the benefit of all residents."
Walsh held a number of leadership positions with Rhode Island-based industrial conglomerate Textron prior to joining REV Group, including at Bell Helicopter, TRU Simulation and Training, and Lycoming Engines.
He also served in the U.S. Marine Corps as an officer and naval aviator.
"Kaman has established itself as a leading manufacturer of highly engineered aerospace, defense and medical solutions, and it is an honor to assume the role of president and chief executive officer during this important time in its history," Walsh said.
"Kaman has the financial flexibility to continue to weather this difficult period, and at the same time, we are taking the steps necessary to ensure we can achieve further margin expansion and profitability as global markets recover."