AAR Names Michael Milligan To Succeed Timothy Romenesko CFO, Effective Sept.1

(RTTNews) - AAR Corp. (AIR), an aftermarket solutions company, announced Monday that Michael Milligan was appointed Chief Financial Officer effective September 1.

AAR's long-time Chief Financial Officer Timothy 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 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.

Separately, AAR announced that its Board of Directors at its regularly scheduled meeting declared a quarterly cash dividend of $0.075 per share to its stockholders. The dividend will be payable on August 2 to stockholders of record as of the close of business on July 21.