President and CEO Becomes New Chairman of Goodrich

In the final step in the company's current senior executive succession plan, Marshall O. Larsen (right) was named Chairman of Goodrich Corporation by its Board of Directors, succeeding David L. Burner. Larsen is now Chairman, President and Chief Executive Officer of the company.

Assessing the changes to Goodrich over the last several years, Larsen stated, "Under Dave's leadership, Goodrich experienced rapid growth and a total transformation into a global aerospace company. We're now a top-tier aerospace systems supplier with a customer base that includes Airbus, Boeing, regional and business aircraft manufacturers, the world's airlines and the U.S. and European defense forces. I am truly honored to be chosen to continue to shape the future of Goodrich, and sincerely wish Dave all the best as he embarks on a new chapter of his personal and professional life."

Larsen joined the company in 1977 as an Operations Analyst and Financial Manager. In 1986, he became Assistant to the President and later served as General Manager of several divisions of the company's Aerospace business. In 1994, he was elected a Vice President of the company and was named a Group Vice President of Goodrich Aerospace. In 1995 Larsen was appointed Executive Vice President of the company and President and Chief Operating Officer of Goodrich Aerospace. In February 2002 Larsen was named President and Chief Operating Officer and in April 2003 he was appointed President and Chief Executive Officer of Goodrich Corporation. He is a graduate of the U.S. Military Academy at West Point and holds an MS from the Krannert School of Industrial Management at Purdue University.

Burner, who will officially retire on April 30, 2004, after a 20-year career in aerospace simultaneously retired as a Goodrich Board member. Burner served as Chairman and Chief Executive Officer from 1997 to April 2003. He was elected President and a Director of the company in 1995 and Chief Executive Officer in 1996. Previously, he served as Executive Vice President and President and Chief Operating Officer of the company's Aerospace segment. He joined the company in 1983 and served in several management positions prior to his appointment as President of Aerospace in 1987.

Burner currently serves on the Board of Directors of Lance, Inc., Milacron Inc., Progress Energy Inc., Briggs & Stratton Corporation and Engelhard Corporation. He is also co-chair of Advantage Carolina, a member of the North Carolina Citizens for Business and Industry Board and a member of the North Carolina Business Council of Management and Development. Burner also serves on the Board of Directors of Carolinas Partnership, the Charlotte Symphony Orchestra, and the Charlotte Research Institute. He is also a member of the United Way of Central Carolinas Board of Directors and served as Chair of the 2001 Central Carolinas Campaign.

FMI: www.goodrich.com