ITP Aero to appoint Eva Azoulay as Group Chief Executive Officer

ITP Aero will strengthen its leadership team, appointing Eva Azoulay as the new Group Chief Executive Officer. The Spanish weight in the management team will be reinforced with the appointment of Carlos Alzola as Managing Director, and of Javier Lázaro, the Chief Financial Officer, as Board member. The three executives will be based in the company’s headquarters in Bilbao.

Eva Azoulay has more than 25 years of experience in the Aerospace & Defence industry, having held various top-level positions at the US manufacturer Pratt & Whitney. Her unique industry expertise, strategic and commercial experience and international exposure will strengthen ITP Aero’s ability to grow globally as a leading Aerospace player. Azoulay holds a bachelor in Mechanical Engineering and a Master in Business Administration.

Carlos Alzola will be appointed as Managing Director. He will focus on the leadership of the areas of Defence, Operations and Engineering, key for the business in a period of rapid growth. Javier Lázaro, current Chief Financial Officer, has been appointed member of the Board of ITP Aero, in recognition of his work and with the aim of further strengthening the ties between the management of the company and its shareholders.

Ivano Sessa, Partner at Bain Capital, said: “We welcome Eva as part of the team. We expect her talent and strategic vision to be key enablers in ITP Aero’s journey of becoming a true best-in-class global player in the Aerospace & Defence market. We are confident that under the leadership of Eva, Carlos and Javier, ITP is ideally positioned to capture new growth opportunities internationally.”

In the words of Carlos Alzola, Managing Director of ITP Aero: “Over the 30 years of history of ITP we have achieved incredible things by working together with passion and ambition. Now, with the incorporation of Eva, the ITP team is strengthened. Under her leadership, and through continuous collaboration, I am convinced that we will achieve great success. I want to give Eva the warmest welcome to the ITP family and I am looking forward to collaborating with her in the years to come.”

Eva Azoulay, CEO of the ITP Aero Group, said: “This an exceptional opportunity to be part of a world class Tier 1 design and make engine player that has an incredible journey and bright future ahead. It is a pleasure to join this team today and I am confident in our ability as a team to achieve the goals that lie ahead.”

The appointments will soon be submitted to the approval of ITP’s board and have been previously consulted with the Government of Spain, thus fulfilling the commitments made by Bain Capital in the acquisition of ITP Aero. Bain Capital also consulted with the Government of Spain the appointment of Juan María Nin as Chairman of the company in 2022, which also reinforced the Spanish weight at the company’s Board.

ITP Aero: Aerospace & Defence Leader

Since Bain Capital’s acquisition in 2022, ITP Aero has grown significantly. The recovery of international air traffic after the pandemic, as well as strong demand across the commercial and defence platforms ITP serves, have contributed to the growth of the business.

Since acquisition, the Company has identified an ambitious plan of initiatives to grow through international expansion, organically and inorganically, and invest in research and development and operational excellence.

Over the last year, there has been a strong commitment to Research & Development with significant investments in Spain, including a more than 20 million euros investment in a new Technology Center in Zamudio, more than 10 million euros investment to expand the PCB facilities, as well as investments of more than 25 million euros in R&D in 2022.

The growth of the business since Bain Capital’s entry into ITP Aero is accompanied by a significant increase in employees, with more than 500 new jobs to be created by the end of 2023.