Robert T. Banta, the Moog Inc. chief financial officer who weathered the Elma aerospace company's restructuring in the early 1990s and helped engineer the rebound that followed, plans to retire Friday.
Banta, a former banker who joined Moog in 1983 as its CFO, will be succeeded as chief financial officer by John Scannell, who currently is the company's vice president of contracts and pricing.
In addition, Moog named Donald R. Fishback, who has been Moog's corporate controller and principal accounting officer since 1985, as its vice president of finance.
"Bob Banta has been my partner and confidant for the last 20 years," said Robert T. Brady, Moog's chairman and chief executive officer. He "has made an extraordinary contribution to the development of our company as we know it today."
When Banta joined Moog, the company had $166 million in sales -- a figure that has since soared to nearly $1.6 billion through acquisitions and internal growth as it broadened and expanded the markets for the company's motion control products in the global aerospace and industrial markets.
While Moog struggled through a painful restructuring in the early 1990s, the company has since rebounded, with its stock, which traded for as little as $1.18 in November 1992, now at $44.25. Banta will continue to serve on Moog's board of directors.
Scannell, 44, joined Moog's European business 17 years ago, holding positions as the company's operations manager in Germany and as general manager of its Ireland business. He became program director for flight control actuation on the Boeing 787 contract in 2003.
Scannell has bachelor's and master's degrees from the University College at Cork, Ireland, as well as a master's in business administration from Harvard University.
Fishback, 51, who has a bachelor's degree from Westminster College and an MBA from the University at Buffalo, joined Moog in 1981 as an internal auditor.