Air Capital Insider

Lawson departs Spirit’s board early, Gentile to assume his spot

Tom Gentile, incoming Spirit AeroSystems president and CEO.
Tom Gentile, incoming Spirit AeroSystems president and CEO. Courtesy photo

Spirit AeroSystems said in a regulatory filing Friday afternoon that outgoing CEO Larry Lawson resigned from its board of directors five days early and incoming CEO Tom Gentile will get a raise to replace him.

The Securities and Exchange Commission filing said Lawson resigned from the commercial aircraft supplier’s board “effective immediately” on Monday and that Gentile would replace him. Lawson, who announced his retirement in early June, was originally set to retire at the end of July.

With Gentile’s assumption of Lawson’s seat on the board, he’ll receive a $100,000 increase in his $1 million annual base salary in 2017, as well as a $100,000 increase in annual deferred compensation of $500,000, according to the filing.

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