HEICO Corporation announced that Laurans A. Mendelson, its Chairman and Chief Executive Officer, will become the Company’s Executive Chairman of the Board of Directors and that Eric A. Mendelson and Victor H. Mendelson will become the Company’s Co-Chief Executive Officers effective on May 1, 2025.
Eric and Victor Mendelson have served as the Company’s Co-Presidents since 2009. In addition, Eric Mendelson has served as President & CEO of the Company’s Flight Support Group (“FSG”) since founding it in 1993 and Victor Mendelson has served as President & CEO of the Company’s Electronic Technologies Group (“ETG”) since founding it in 1996. They will continue in these roles, in addition to serving as HEICO’s Co-CEOs.
As Executive Chairman of the Board, Laurans Mendelson will continue leading the Company’s Board of Directors, his deep involvement with strategic direction and planning, as well as overseeing key investor and constituency relationships.
The transition is consistent with the Company’s long-time internal, orderly and planned CEO succession approach as annually reviewed by the Company’s Board of Directors. The transition has been occurring internally over many years and reflects much of the functional roles Eric and Victor Mendelson have assumed over time.
Laurans, Eric and Victor Mendelson jointly commented, “The position changes are more titular than practical, given that we have operated the Company together, often interchangeably, for decades, with our Team Members, customers, shareholders and others working extensively with us-both individually and collectively- since our involvement with HEICO commenced some 35 years ago.
More notably, HEICO’s decentralized and entrepreneurial structure means that the Company relies on the business leaders at each HEICO subsidiary to fully manage their operations, which is where and how the magic happens. HEICO’s success results from the remarkable efforts of our subsidiaries and their Team Members. This will remain the case and we are as excited today as we were 35 years ago by what this powerful structure produces.”
Mark H. Hildebrandt, Chairman of the Board’s Governance Committee, commented, “The transitions are consistent with the Company’s long-planned internal executive succession arrangement as overseen by the Company’s Board of Directors. Laurans, Eric and Victor Mendelson together took over HEICO’s management in 1990 after becoming the Company’s largest shareholders. Since then, they’ve jointly overseen HEICO, assigning duties and responsibilities as warranted, with the three Mendelsons operating as a team of partners wherein they unanimously concurred on major decisions and have been equally well informed about the Company’s operations, acquisitions and strategic selections, while devoting their greatest individual attention to specific responsibilities.”
The Board and all three Mendelsons unanimously felt it important to better match titles with daily responsibilities and activities, which this transition accomplishes, while appropriately planning for HEICO’s future.”
