StandardAero announced on Tuesday that its Chief Executive Officer, Russell Ford, has decided to retire after 13 years in the role. The company's board of directors has named Paul McElhinney, the current Lead Independent Director with 35 years of industry experience, to succeed Ford as CEO, effective October 1, 2026.

To ensure an orderly leadership handover, Ford will continue to serve as Executive Chairman through December 31, 2026, and will remain on the board after stepping down as Chairman on January 1, 2027. McElhinney will assume the additional role of Chairman starting January 1, 2027.

Ford, who became CEO in 2013, oversaw a period of significant growth for the company. Under his leadership, annual revenue grew from $1.6 billion to over $6 billion by 2025, global operations expanded substantially, and profitability improved consistently. In 2024, he successfully led the company's initial public offering on the New York Stock Exchange; the company now has a market capitalization of approximately $9.1 billion.

McElhinney brings over 30 years of leadership experience in the aerospace and industrial sectors and has served on StandardAero's board since 2019. He previously spent 30 years at General Electric, serving as President and CEO of GE Power Services, a $15 billion annual revenue business, and later as head of GE Aviation Services, where he doubled the business's backlog to over $100 billion.

McElhinney has entered into a five-year employment agreement, with an initial base salary of $1.1 million and a target annual bonus of 125% of his base salary. He will also receive stock options valued at $15 million and $5 million in restricted stock units, both vesting over four years.

The company also reaffirmed its previously issued full-year 2026 financial guidance. First-quarter results showed total revenue of $1.63 billion, a 13.3% year-over-year increase, and adjusted earnings per share of $0.33, in line with market expectations.

StandardAero, Inc.

StandardAero is a leading independent provider of aftermarket services for aircraft engines, serving the commercial, business, and military aviation sectors.