CPI Aerostructures Appoints Aerospace Industry Executive Pamela Levesque to its Board of Directors

EDGEWOOD, N.Y., Oct. 24, 2023 (GLOBE NEWSWIRE) -- CPI Aerostructures, Inc. ("CPI Aero®" or the "Company") (NYSE:CVU) today announced that its Board of Directors has appointed Pamela D. Levesque to serve as an independent Class II Director. She was also appointed to the Board's Audit and Finance Committee.

Ms. Levesque, 66, brings a wealth of experience and knowledge garnered from a distinguished career spanning more than 35 years in the aerospace and defense industry. Throughout her career, Pamela has demonstrated exceptional leadership and expertise in various critical areas, including P&L management, government contracting, budget control, cost reduction, process improvement, project management, systems implementation, and operational management.

Most recently, Pamela has served as Vice President and Chief Financial Officer of APL Investments LLC, her family's real estate business. Prior to her retirement in 2017, she held the position of Director of Business Operations at Aerojet Rocketdyne, where she provided exemplary leadership to the West Palm Beach financial organization. In this capacity, Pamela played a key role in the financial integration of the Rocketdyne acquisition. Pamela also held the position of Group Chief Financial Officer, Structures & Systems at AAR Corp., leveraging her diverse financial and business background where she oversaw six manufacturing businesses, including two international entities. A significant portion of her career was spent at Pratt & Whitney, a division of Raytheon Technologies, where she initially began as an analytical engineer and ascended through the ranks to become Manager of Financial Operations, Business Unit Controller, and Director of Financial Operations. Pamela holds a Bachelor of Science in Engineering degree from Valparaiso University and earned her MBA from Florida Atlantic University.

"Pamela's appointment underscores CPI Aero's commitment to strengthening its board with seasoned professionals who will play a pivotal role in guiding the company's future endeavors. In this case, both Pamela's extensive experience in the aerospace and defense industry and her expertise in financial management and government contracting will make her a valuable contributor to CPI Aero. We are delighted to welcome Pamela to our Board of Directors," said Terry Stinson, Chairman of the Board.

About CPI Aero

CPI Aero is a U.S. manufacturer of structural assemblies for fixed wing aircraft, helicopters and airborne Intelligence Surveillance and Reconnaissance pod systems in both the commercial aerospace and national security markets. Within the global aerostructure supply chain, CPI Aero is either a Tier 1 supplier to aircraft OEMs or a Tier 2 subcontractor to major Tier 1 manufacturers. CPI also is a prime contractor to the U.S. Department of Defense, primarily the Air Force. In conjunction with its assembly operations, CPI Aero provides engineering, program management, supply chain management, and MRO services.

Forward-looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included in this press release are forward-looking statements. The Company does not guarantee that it will actually achieve the plans, intentions or expectations disclosed in its forward-looking statements and you should not place undue reliance on the Company's forward-looking statements.

Forward-looking statements involve risks and uncertainties, and actual results could vary materially from these forward-looking statements. There are a number of important factors that could cause the Company's actual results to differ materially from those indicated or implied by its forward-looking statements, including those important factors set forth under the caption "Risk Factors" in the Company's Annual Report on Form 10-K for the period ended December 31, 2022 and subsequent reports filed with the Securities and Exchange Commission. Although the Company may elect to do so at some point in the future, the Company does not assume any obligation to update any forward-looking statements and it disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

CPI Aero® is a registered trademark of CPI Aerostructures, Inc. For more information, visit www.cpiaero.com, and follow us on Twitter @CPIAERO.