Sikorsky CFO quits

Sikorsky CFO quits

19-Nov-2013 Source: CIRCOR

CIRCOR International, Inc. (NYSE: CIR), a leading provider of valves and other highly engineered products for markets including oil & gas, power generation and aerospace, today announced that Rajeev Bhalla will join the Company as Executive Vice President and Chief Financial Officer on December 2, 2013. Mr. Bhalla currently is the Vice President and Chief Financial Officer for Sikorsky Aircraft Corporation, a subsidiary of United Technologies Corporation, where he is responsible for all of Sikorsky’s global financial operations as well as its corporate strategy. He replaces Fred Burditt, who announced his planned retirement in August 2013.

“I’m excited to welcome Rajeev as CIRCOR’s new chief financial officer,” said President and CEO Scott Buckhout. “Rajeev’s experience in managing global financial operations for successful multinational organizations will be a valuable asset as we grow CIRCOR in key international markets. We also look forward to leveraging Rajeev’s expertise in formulating corporate strategy, including acquisitions and divestitures. The success of our plan to drive exceptional growth while expanding margins and improving cash flow requires a CFO with a strong combination of operational acumen and global finance expertise. We have found that in Rajeev.

“I also would like to thank Fred Burditt for his years of dedicated service to CIRCOR. The Company made significant progress during his tenure, and we all wish him well on his retirement,” concluded Buckhout.

Rajeev Bhalla said, “In joining CIRCOR, I see a tremendous opportunity to leverage my experience and expertise in building upon a strong foundation to drive global growth and improved operating results. CIRCOR sells into good end markets where there are significant opportunities to increase revenues, both organically and through acquisitions. I am equally excited about the opportunity to improve margins and cash flow by simplifying CIRCOR and improving operations. I look forward to working with the entire CIRCOR team to execute on our growth and operations strategy.”

About Rajeev Bhalla

Rajeev Bhalla, age 50, became Vice President, Finance and Chief Financial Officer for Sikorsky Aircraft Corporation in May 2012. He joined Sikorsky from United Technologies’ Pratt & Whitney division where he had served as Vice President and Chief Financial Officer since 2005 and was responsible for all financial operations worldwide. Prior to that, Mr. Bhalla served as Vice President and Corporate Controller for Lockheed Martin Corporation and as a partner with Price Waterhouse, serving large multinational, technology and middle-market clients in a variety of industries. He holds a Bachelors of Business Administration – Magna Cum Laude from the University of Massachusetts, and is a Certified Public Accountant. In addition, Mr. Bhalla is a member of the American Institute of CPAs and the Massachusetts and Connecticut Society of CPAs.

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