Goodrich CFO saw transformation from tires to aerospace
Goodrich Corp. Chief Financial Officer Scott Kuechle recalls when he first started at the company about 25 years ago the firm was mainly in tires, commodity chemicals and industrial products. Aerospace defense was a “very small” component buried in its industrial business.
“It was really visionary by some of the leaders back then to understand what of those industries were really going to survive and thrive in the next generation of workers and where the economy was going,” he said in an interview at a Reuters Aerospace and Defense Summit.
“And they had the foresight to basically sell off about 90 percent of the company and reinvest that along the way in the areas that actually could grow and could be sustainable long term,” Kuechle said. “It was an incredibly gutsy move to take the core of the company and basically reinvent it along the way.”
Kuechle called the transformation exciting to watch and described it as “an underappreciated reinvention of an American company.”
But in those early years he said he never thought he would one day be a CFO of a large aerospace and defense company.
“You always have dreams,” he said with a laugh. “But no, this has exceeded my expectations by a lot, but very satisfying.”
Photo credit: Reuters/Molly Riley (Kuechle at Reuters summit)