AAR (NYSE: AIR) announced that Michael D. Milligan was appointed Chief Financial Officer effective September 1, 2017 at today's quarterly Board of Directors meeting.
Milligan spent the last 16 years as Senior Vice President and Chief Financial Officer with NES Rental Holdings, Inc., a private equity-owned national supplier of equipment rental services to construction and industrial services companies. He previously served 14 years at Pricewaterhouse Coopers, including time as a partner in the Transaction Services Group and the National Practice Leader for Industry Consolidations. After 30 years in financial positions, Milligan has significant finance and accounting expertise, as well as merger and acquisition experience, having led numerous transactions during his time at NES.
"Mike is a valuable addition to our senior management team," said David P. Storch, Chairman and Chief Executive Officer of AAR. "Given his track record of reducing operating costs, managing debt and completing acquisitions, he will be a key contributor to AAR's future success and shareholder value."
AAR's long-time Chief Financial Officer Timothy J. Romenesko, who previously announced his plan to retire at year's end, will work closely with Milligan as he transitions into his new role.
Milligan, 54, is a graduate of the University of South Florida and lives in Lake Forest, Illinois with his family.