November 05, 2014
AAR CEO Named to the President’s Advisory Council on Doing Business in Africa
David P. Storch is only aviation-focused business leader on 15-member panel
WOOD DALE, Illinois -- David P. Storch, Chairman and Chief Executive Officer of AAR CORP. (NYSE: AIR), has been named to the President’s Advisory Council on Doing Business in Africa, a 15-member panel of private sector business leaders charged with helping the Administration strengthen commercial engagement between the United States and Africa.
Storch is the only member of the council leading a company focused solely on aviation. He was chosen for AAR’s experience in Africa including a five-year, multimillion-dollar contract with Kenya Airways, which was secured with the support of the U.S. Commerce Department and has helped to progress AAR’s expansion across the continent.
“I want to thank Secretary Penny Pritzker for this opportunity to help develop strategies and identify opportunities to invest in this emerging market,” Storch said. “And I look forward to working with this esteemed group of business leaders.”
The council also will provide information, analysis, and recommendations on creating jobs in the United States and Africa through trade and investment; building lasting commercial partnerships between the U.S. and African private sectors; and facilitating U.S. business participation in Africa's infrastructure development.
“U.S Government and private sector leaders see tremendous opportunity in Africa, and they want to seize it,” said U.S. Secretary of Commerce Penny Pritzker in the White House’s press announcement. “Africa is home to six of the 10 fastest-growing economies in the world, and the demand for U.S. goods and services on the continent is high. The President’s Advisory Council will be a critical part of our efforts to strengthen our trade and investment ties across Africa, so we can do more business together.”
The other 14 council members hand-picked to advise the President and Secretary Pritzker on doing business in Africa include leaders from Walmart, GE, Hershey, investment firms, global consulting and research firms, consumer products, agriculture and energy companies, specifically:
- Walé Adeosun - Founder and Chief Investment Officer, Kuramo Capital Management
- Dominic Barton - Global Managing Director, McKinsey & Company
- P. Bilbrey - President and CEO, The Hershey Company
- Shelley Broader - President and CEO, Walmart EMEA
- Teresa Clarke - Chairman and CEO, Africa.com
- Melissa Cook - Founder and Managing Director, African Sunrise Partners
- Karen Daniel - Chief Financial Officer, Board Member, and Leader of Africa Growth Initiative, Black & Veatch
- Peter Grauer - Chairman, Bloomberg LP
- Jay Ireland– President and CEO, GE Africa
- Kevon Makell– President and CEO, SEWW Energy
- Edward Mathias– Managing Director, Carlyle Group
- Martin Richenhagen– Chairman, President, and CEO, AGCO
- Dow Wilson– President and CEO, Varian Medical System
- Rahama Wright– Founder and Executive Director, Shea Yeleen Health and Beauty
For more information, please visit www.trade.gov/pac-dbia.
About AAR
AAR is a global aftermarket solutions company that employs more than 6,000 people in over 20 countries. Based in Wood Dale, Illinois, AAR supports commercial aviation and government customers through two operating segments: Aviation Services and Expeditionary Services. AAR’s Aviation Services include inventory management; parts supply; OEM parts distribution; aircraft maintenance, repair and overhaul; engineering services and component repair. AAR’s Expeditionary Services include airlift operations; mobility systems; and command and control centers in support of military and humanitarian missions. More information can be found at www.aarcorp.com.
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This press release contains certain statements relating to future results, which are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on beliefs of Company management, as well as assumptions and estimates based on information currently available to the Company, and are subject to certain risks and uncertainties that could cause actual results to differ materially from historical results or those anticipated, including those factors discussed under Item 1A, entitled “Risk Factors”, included in the Company’s Form 10-K for the fiscal year ended May 31, 2018. Should one or more of these risks or uncertainties materialize adversely, or should underlying assumptions or estimates prove incorrect, actual results may vary materially from those described. These events and uncertainties are difficult or impossible to predict accurately and many are beyond the Company’s control. The Company assumes no obligation to update any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events. For additional information, see the comments included in AAR’s filings with the Securities and Exchange Commission.
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