Spirit Aerosystems CEO Turner to retire next year

Associated Press

WICHITA, Kan. (AP) — Aircraft parts maker Spirit AeroSystems said Monday its president and CEO will retire early next year and it has started the search for a successor.

Jeffrey L. Turner, 60, told the company's board he plans to remain in the top spot until his replacement takes over. The board formed a special committee to conduct the search.

Turner helped mold the company, which was formed in 2005 after Boeing Co. spun off its commercial aircraft operations in Wichita and Oklahoma. Turner had been with Boeing since 1973.

Shares of Spirit AeroSystems Holdings INc. gained 34 cents, or 2.4 percent, to $14.38 in morning trading. The stock has changed hands between $13.96 and $26 in the past 52 weeks.