TransDigm Announces Retirement of Kevin Stein as CEO and Current Co-COO Mike Lisman as Successor

Rhea-AI Summary

TransDigm Group (NYSE: TDG) announced that CEO Kevin Stein will retire effective September 30, 2025, after more than ten years in senior leadership positions. Mike Lisman, current Co-Chief Operating Officer, will succeed Stein as President and CEO. Stein will remain as an advisor through March 31, 2026, and continue serving on the Board of Directors.

Lisman, who has been with TransDigm since 2015, brings extensive experience including roles as CFO, Executive VP, and leader of M&A. His background includes private equity experience at Warburg Pincus and education from Notre Dame (B.S. in aerospace engineering) and Harvard Business School (MBA).

Positive

• Planned and structured leadership transition with extended advisory period ensures operational continuity
• New CEO Mike Lisman brings diverse experience across company operations, finance, and M&A
• Outgoing CEO Kevin Stein remains on Board of Directors, maintaining strategic continuity

Negative

• Loss of experienced CEO who has generated substantial shareholder value
• Potential shift in strategic direction or operational approach under new leadership

Insights

Corporate Governance Analyst

TransDigm's carefully planned CEO succession demonstrates governance stability with an insider chosen to maintain strategic continuity.

TransDigm's announcement represents a meticulously orchestrated leadership transition, with Kevin Stein retiring after a decade in senior leadership and Mike Lisman, current Co-COO, stepping into the CEO role effective September 30, 2025. This follows best practices in succession planning rather than indicating an unexpected departure.

Lisman brings an unusually comprehensive background to the CEO position, having served in multiple critical roles at TransDigm including Co-COO, CFO, Executive Vice President, M&A group leader, and even as a Business Unit Manager at one of TransDigm's operating units. This progression suggests deliberate grooming for leadership and provides him with a 360-degree understanding of the company's operations and financial strategies.

The transition incorporates several governance best practices that minimize disruption risk:

• A substantial announcement-to-implementation window (May to September 2025)
• Stein remaining as an advisor through March 2026 (six months post-transition)
• Stein continuing to serve on the Board of Directors
• Explicit Board endorsement from Chairman Howley

Lisman's unique combination of aerospace engineering education (Notre Dame) and financial expertise (Harvard MBA and private equity experience at Warburg Pincus) aligns well with TransDigm's business model of manufacturing highly-engineered aerospace components while emphasizing financial discipline and acquisition-driven growth.

The consistent messaging about continuing TransDigm's "value-driven strategy" from both the Chairman and incoming CEO signals that Lisman will maintain the company's established strategic direction rather than implementing significant changes. This continuity-focused approach typically minimizes transition risks for stakeholders.

CLEVELAND, May 6, 2025 /PRNewswire/ -- TransDigm Group Incorporated (NYSE: TDG) ("TransDigm" or the "Company") announced today that Kevin Stein will retire as President and Chief Executive Officer of TransDigm, following his more than ten years of service in senior leadership positions at the Company, effective as of September 30, 2025. Mike Lisman, the current Co-Chief Operating Officer of TransDigm, will succeed Mr. Stein as President and Chief Executive Officer. Mr. Stein will continue to serve as an advisor to the Company through March 31, 2026 to help facilitate the leadership transition. Additionally, he will continue to serve as a member of the Company's Board of Directors.

Mr. Lisman has served as Co-Chief Operating Officer of TransDigm since May 2023. Prior to this role, he held a number of positions across the Company, including Chief Financial Officer and Executive Vice President, with direct operational oversight for a number of TransDigm's operating units. Additionally, Mr. Lisman previously held roles as the lead of the Company's Mergers and Acquisitions group and as a Business Unit Manager at Aero Fluid Products, one of TransDigm's operating units, that designs and manufactures highly-engineered valves and actuation products. Prior to joining the Company in 2015, Mr. Lisman worked in the private equity industry at the New York and London offices of Warburg Pincus. He received a B.S. in aerospace engineering from Notre Dame and an MBA from Harvard Business School.

"On behalf of our Board of Directors, I want to thank Kevin for his outstanding leadership and contributions to TransDigm over his entire career. During his tenure as our CEO, and prior to that as COO, Kevin has generated substantial shareholder value by driving operational excellence and continuing our track record of successful capital deployment and acquisitions," stated W. Nicholas Howley, the Chairman of the Board of Directors. "Mike's promotion to President and Chief Executive Officer is a planned transition that is the product of thoughtful succession planning. The Board and I believe Mike will do an excellent job continuing to execute our consistent value-driven strategy and generate substantial returns for our shareholders."

"It has been a privilege to serve at the helm of this exceptional company," stated Mr. Stein, "I am deeply grateful to all my colleagues for their support and for their unwavering dedication to serving our customers and executing our value-driven operating strategies with excellence. Mike's leadership and deep experience across our businesses in a range of operational and financial roles make him uniquely qualified to take on this position."

"I am honored to have the opportunity to succeed Kevin and lead TransDigm as its next President and Chief Executive Officer," stated Mr. Lisman, "We look forward to continuing to deliver value to our customers and shareholders in the years ahead."

About TransDigm Group

TransDigm Group, through its wholly-owned subsidiaries, is a leading global designer, producer and supplier of highly engineered aircraft components for use on nearly all commercial and military aircraft in service today. Major product offerings, substantially all of which are ultimately provided to end-users in the aerospace industry, include mechanical/electro-mechanical actuators and controls, ignition systems and engine technology, specialized pumps and valves, power conditioning devices, specialized AC/DC electric motors and generators, batteries and chargers, engineered latching and locking devices, engineered rods, engineered connectors and elastomer sealing solutions, databus and power controls, cockpit security components and systems, specialized and advanced cockpit displays, engineered audio, radio and antenna systems, specialized lavatory components, seat belts and safety restraints, engineered and customized interior surfaces and related components, advanced sensor products, switches and relay panels, thermal protection and insulation, lighting and control technology, parachutes, high performance hoists, winches and lifting devices, cargo loading, handling and delivery systems and specialized flight, wind tunnel and jet engine testing services and equipment, electronic components used in the generation, amplification, transmission and reception of microwave signals, and complex testing and instrumentation solutions.

Contact:	Investor Relations
	(216) 706-2945
	ir@transdigm.com

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SOURCE TransDigm Group Inc.

FAQ

When will TransDigm CEO Kevin Stein retire and who will replace him?

Kevin Stein will retire as CEO of TransDigm (TDG) on September 30, 2025, and will be replaced by current Co-COO Mike Lisman.

What is Mike Lisman's background and experience at TransDigm (TDG)?

Mike Lisman has been with TransDigm since 2015, serving as Co-COO, CFO, Executive VP, and M&A group leader. He has a B.S. in aerospace engineering from Notre Dame and an MBA from Harvard Business School.

Will Kevin Stein maintain any role at TransDigm after stepping down as CEO?

Yes, Kevin Stein will serve as an advisor to TransDigm through March 31, 2026, and will continue as a member of the Board of Directors.

How long has Kevin Stein been in leadership positions at TransDigm (TDG)?

Kevin Stein has served in senior leadership positions at TransDigm for more than ten years, including roles as CEO and COO.