10-Nov-2014 Source: AAR
WOOD DALE, Illinois, November 5, 2014 — 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:
1) Walé Adeosun – Founder and Chief Investment Officer, Kuramo Capital Management
2) Dominic Barton – Global Managing Director, McKinsey & Company
3) P. Bilbrey – President and CEO, The Hershey Company
4) Shelley Broader – President and CEO, Walmart EMEA
5) Teresa Clarke – Chairman and CEO, Africa.com
6) Melissa Cook – Founder and Managing Director, African Sunrise Partners
7) Karen Daniel – Chief Financial Officer, Board Member, and Leader of Africa Growth Initiative, Black & Veatch
8) Peter Grauer – Chairman, Bloomberg LP
9) Jay Ireland– President and CEO, GE Africa
10) Kevon Makell– President and CEO, SEWW Energy
11) Edward Mathias– Managing Director, Carlyle Group
12) Martin Richenhagen– Chairman, President, and CEO, AGCO
13) Dow Wilson– President and CEO, Varian Medical System
14) Rahama Wright– Founder and Executive Director, Shea Yeleen Health and Beauty
For more information, please visit www.trade.gov/pac-dbia.
AAR is a global aerospace and defense contractor that employs more than 6,000 people in 17 countries. Based in Wood Dale, Illinois, AAR supports commercial, government and defense customers through two operating segments: Aviation Services and Technology Products. AAR’s services include inventory management and parts distribution; aircraft maintenance, repair and overhaul; and expeditionary airlift. AAR’s products include cargo systems and containers; mobility systems and shelters; advanced aerostructures; and command and control systems. More information can be found at www.aarcorp.com.