Former Hexcel CEO Nick Stanage joins HII board of directors

NEWPORT NEWS, Va. - HII (NYSE:HII), the $10.2 billion market cap defense contractor, announced Tuesday that Nick Stanage, former chairman, CEO and president of Hexcel Corporation, has been elected to the company’s board of directors.

Stanage, who retired as Hexcel’s president and CEO in May 2024 and served as executive chairman through November 2024, brings decades of industrial manufacturing experience in aerospace, automotive and construction equipment industries to HII’s board.

"We are pleased to welcome Nick to the board of HII," said Kirk Donald, chairman of the board of HII. "His leadership experience and extensive understanding of industrial manufacturing and innovative solutions make him a valuable addition to the HII team as we position HII for further growth."

Before joining Hexcel in 2009, Stanage spent 20 years with Honeywell Aerospace and Transportation Systems in various leadership roles focused on technology, operations, and supply chain management. He later served as president of the Heavy Vehicle Products group at Dana Holding Corporation.

Stanage also serves on the board of directors for TriMas Corporation, where he is a member of its compensation and governance and nominating committees.

He holds a Bachelor of Science degree in mechanical engineering from Western Michigan University and a Master of Business Administration from the University of Notre Dame.

HII, headquartered in Virginia, is a global defense provider and the nation’s largest military shipbuilder with a workforce of 44,000. The company delivers capabilities ranging from ships to uncrewed systems, cyber, ISR, AI/ML and synthetic training, according to the company’s press release statement. With annual revenue of $11.5 billion and a track record of 13 consecutive years of dividend increases, HII has demonstrated consistent financial stability. According to InvestingPro analysis, the company maintains relatively low price volatility and is expected to remain profitable this year, with analysts forecasting earnings of $14.45 per share for 2025.Investors seeking detailed insights can access HII’s comprehensive Pro Research Report, available exclusively on InvestingPro, which provides in-depth analysis of the company’s financial health, market position, and growth prospects among 1,400+ top US stocks.

In other recent news, defense contractor HII has secured a $74 million contract to provide modeling and simulation capabilities to the U.S. Air Force. This five-year task order will support the U.S. Air Force Research Laboratory’s Space Vehicles Directorate. HII, along with Woods Hole Oceanographic Institution and the U.S. Navy, also completed compatibility testing of the REMUS 620 uncrewed underwater vehicle with submarine torpedo tube systems. This marks a significant step toward further testing at a Navy facility. Additionally, HII announced the launch of the Virginia-class submarine Arkansas into the James River, where it will undergo final outfitting, testing, and crew certification. In a separate development, HII received an order from Hitachi for more than a dozen REMUS 300 small uncrewed undersea vehicles. On the financial front, TD Cowen upgraded Huntington Ingalls from Hold to Buy, citing potential margin improvements. The firm set a price target of $300, noting that shipbuilding margins could increase as COVID-impacted vessels become less prevalent.

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