Bellevue-based Esterline said Curtis Reusser, an executive at United Technologies and a University of Washington graduate, will replace the retiring Brad Lawrence as president and CEO on Oct. 28.
The diversified aerospace manufacturer said Reusser, previously the president for aircraft systems at United Technologies’ UTC Aerospace Systems division, will receive a base salary of $750,000 and a signing bonus of $600,000, as well as participate in the company’s incentive plan for executives.
He’ll also get 52,750 restricted stock units vesting over three years, worth about $4.2 million at Thursday’s closing price just above $80.
Reusser joined aerospace and defense company Goodrich in 1988 and was executive vice president there for four years until it was acquired by United Technologies in 2012.
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He has a bachelor of science degree in industrial engineering from UW.
Esterline said Lawrence will continue as the company’s executive chairman until the annual shareholders meeting in March.