IDEX (IEX.US) Key Personnel Landed! Bank France and Pakistan emphasizes the background of the new CFO's capital operation, investors' concerns are expected to ease

The Zhitong Finance App learned that BNP Paribas analyst Andrew Buscaglia said in a report that IDEX (IEX.US) appointed Shawn Gillen as senior vice president and chief financial officer, eliminating a major concern for investors because the industrial technology company is filling vacant positions earlier this year.

IDEX said that Gillen will join the company on January 5 next year. He previously served as chief financial officer at aviation service provider AAR Corp (AIR.US) for seven years. The company's last chief financial officer left in May to seek other opportunities, triggering a lengthy recruitment process and dragging down investor sentiment.

In the research report, Buscaglia said that the timing of this hire is significant. According to an analysis by BNP Paribas, during Gillen's tenure at AAR, earnings per share grew at a compound annual growth rate of about 9%, and the adjusted EBITDA margin increased from 8% to about 12%.

Gillen also led AAR through a turbulent period in the aircraft aftermarket business, including the economic downturn caused by the COVID-19 pandemic and ongoing supply chain disruptions. He played a leading role in a number of acquisitions, expanding the company's business scope, including the $78 million acquisition of HAECO's parts division, the $146 million acquisition of ADI's US distributor, and the $120 million acquisition of Trax.

During his tenure, AAR's biggest deal was the $725 million acquisition of Triumph Product Support, which required carefully arranged debt financing to maintain a healthy balance sheet.

Buscaglia said in a report to clients on Friday that Gillen's experience in portfolio management, mergers and acquisitions, and capital allocation is highly in line with IDEX's current priorities, especially when capital allocation issues are still receiving much attention.

Prior to joining AAR, Gillen was the vice president and treasurer of USG, a manufacturer of construction materials. Early in his career, he was the vice president of Goldman Sachs's global industrial investment banking division, responsible for mergers and acquisitions, corporate spin-offs, shareholder rights protection, and capital return plans.