01—Abstract
Summary
Summary of the 8-K filed October 22, 2025. Cited figures are marked; the original filing is the authoritative source.
Howmet Aerospace Inc. (HWM) announced a significant leadership transition in its finance department through an 8-K filing.
Executive Vice President and Chief Financial Officer, Ken Giacobbe, will retire on December 31, 2025, after 21 years of dedicated service. Mr. Giacobbe will serve as a special advisor to the CEO during December to ensure a smooth handover. In parallel, the company has appointed Patrick Winterlich as the new Executive Vice President and Chief Financial Officer, effective December 1, 2025.
Mr. Winterlich brings extensive experience, having served as CFO at Hexcel Corporation since 2017, with a career spanning various finance, operations, and IT roles at Hexcel since 1998. His compensation package is detailed, including a substantial base salary, performance-based incentives, and significant equity awards, along with a sign-on bonus and relocation assistance. The company has also put in place standard protective agreements for Mr. Winterlich.
02—Key points
Key Highlights
- Retirement of long-serving CFO Ken Giacobbe, effective December 31, 2025.
- Appointment of Patrick Winterlich as the new Executive Vice President and Chief Financial Officer, starting December 1, 2025.
- Mr. Giacobbe will act as a special advisor to the CEO in the interim period to facilitate a smooth transition.
- Mr. Winterlich joins from Hexcel Corporation, where he served as EVP and CFO since 2017.
- Mr. Winterlich's compensation includes a $700,000 base salary, 100% target bonus, and a $2 million annual equity award target.
- A sign-on cash bonus of $800,000 and relocation assistance will be provided to Mr. Winterlich.
- Standard executive agreements, including confidentiality, non-competition, and indemnification, are in place for Mr. Winterlich.
03—Questions
Frequently Asked Questions
What is the reason for Ken Giacobbe's departure?
Ken Giacobbe is retiring after 21 years of service to Howmet Aerospace Inc., coinciding with his 60th birthday.
Who is replacing Ken Giacobbe as CFO, and when will they start?
Patrick Winterlich will join Howmet Aerospace Inc. as the new Executive Vice President and Chief Financial Officer, effective December 1, 2025.
What is Patrick Winterlich's background and experience?
Patrick Winterlich has extensive experience, most recently serving as Executive Vice President and Chief Financial Officer at Hexcel Corporation since 2017. He joined Hexcel in 1998 and held various leadership roles in Finance, Operations, and Information Technology.
What are the key components of Patrick Winterlich's compensation package?
Mr. Winterlich's compensation includes an annual base salary of $700,000, an annual variable cash incentive opportunity of up to 100% of his base salary, and an annual equity award with a target value of $2,000,000. He will also receive a $800,000 sign-on bonus and relocation assistance.
04—Continue