As part of its continuing efforts to diversify its business, Spirit AeroSystems Holdings, Inc. ("Spirit" or the "Company") announced a new organisational structure to focus on growth in the key markets it serves. Spirit will organise around three primary business divisions: Commercial, Defense & Space, and Aftermarket. Beginning with the 2021 fiscal year-end results, Spirit will report financial results based on these three external reporting segments.

Leadership changes effective October 1, 2021 to support Spirit's new organisation structure include:

Sam Marnick will lead the Commercial Division as President. She will also continue to serve as Executive Vice President and Chief Operating Officer for Spirit.

Duane Hawkins will continue to lead the Defense & Space Division and is appointed Executive Vice President of Spirit; President, Defense & Space Division.

Kailash Krishnaswamy is named Senior Vice President of the Aftermarket Division.

Justin Welner is named Senior Vice President, Chief Administration Officer & Chief Compliance Officer of Spirit.

Marnick, Hawkins, Krishnaswamy and Welner will report directly to Spirit President and Chief Executive Officer, Tom Gentile. They will all serve on Spirit's Executive Leadership Team (ELT).

Other members who will continue to serve on Spirit's ELT are Bill Brown, Senior Vice President Boeing Programs, reporting to Sam Marnick; Scott McLarty, Senior Vice President Airbus and Business/Regional Jet Programs, reporting to Sam Marnick; Terry George, Senior Vice President 737 Program & Operations and Advanced Manufacturing Strategy, reporting to Bill Brown; Mark Suchinski, Senior Vice President and Chief Executive Officer; Kevin Matthies, Senior Vice President and Chief Technology and Quality Officer; and Mindy McPheeters, Senior Vice President, General Counsel and Corporate Secretary. Suchinski, Matthies and McPheeters report directly to Gentile.

"Despite the challenges of the past two years, Spirit has maintained momentum on our strategy to diversify and grow, positioning us to emerge stronger as the aviation industry recovers," said Tom Gentile, Spirit AeroSystems President and Chief Executive Officer. "We believe these organisational changes will enable Spirit to serve our customers better across the Commercial, Defense & Space, and Aftermarket divisions, and accelerate growth for Spirit."

Spirit has previously expressed a vision of achieving a 40-40-20 percent split for future revenue across the Commercial, Defense & Space, and Aftermarket divisions respectively. Spirit's new structure and leadership team will help drive strategic plans across those three divisions to continue diversifying the Company's customer base, de-levering the Company's balance sheet, and driving greater margins.

Marnick, as Executive Vice President and Chief Operating Officer of Spirit; President of the Commercial Division, will oversee Spirit's global commercial aviation operations, including its programs with Airbus and Boeing, business and regional jets, and emerging markets such as eVtol. In addition, she will have leadership of Spirit's supply chain, fabrication, tooling, and facilities organisations.

Hawkins will continue leading the Defense & Space Division as Executive Vice President of Spirit; President of Defense & Space, with a focus on continuing to grow Spirit's presence in that market. Earlier this year Spirit added the name "Space" in the business division's name to reflect the Company's growing capabilities to serve those customers.

Krishnaswamy, as Senior Vice President of the Aftermarket Division, will lead Spirit's aftermarket business, which has doubled in the past year following the acquisition of the former Bombardier maintenance, repair and overhaul operations. Spirit announced further expansion of its aftermarket business in April with the acquisition of assets from Applied Aerodynamics and the signing of a joint venture agreement with Evergreen Aviation Technologies Corporation.

Welner, as Chief Administration Officer & Chief Compliance Officer, will oversee a number of functional areas for Spirit, including human resources, corporate affairs, information technology, EHS, sustainability, compliance, and risk management.