Westminster company appoints former Raytheon executive as CFO

TechPrecision, a manufacturing holding company based in Westminster, has recently appointed Phillip Podgorski as its new Chief Financial Officer (CFO), effective on Monday.

Podgorski joins TechPrecision after serving as the CFO for 12 years at RTX Technology Research Center, a division of an aerospace technology company based in Virginia with a significant presence in Central Massachusetts. RTX emerged from the merger of Raytheon and United Technologies.

TechPrecision CEO Alexander Shen expressed confidence in Podgorski’s abilities, citing his extensive experience in the defense sector and track record in financial strategy, scenario planning, and operations. Shen emphasized the importance of timely reporting and saw Podgorski’s addition as a crucial step towards ensuring compliance with reporting requirements.

In his previous role at RTX, Podgorski oversaw accounting practices, SEC reporting, and government accounting while collaborating with stakeholders on strategic planning initiatives.

Podgorski’s compensation package at TechPrecision includes an annual base salary of $265,000, a guaranteed bonus of $60,000 contingent on certain conditions, and a grant of $180,000 in restricted shares of the company’s common stock, as outlined in an SEC filing.

Podgorski takes over the CFO role from Barbara Lilley, who had been serving as interim CFO. Lilley will continue in her role as controller at Ranor, a subsidiary of TechPrecision specializing in welded and machine component manufacturing. Lilley assumed the interim CFO position following the resignation of Richard Roomberg, the previous CFO, in February.

Expressing his excitement about joining the TechPrecision team, Podgorski highlighted his collaborative approach and commitment to driving positive changes within the company. He emphasized a strong focus on operational effectiveness to deliver results that are valued by customers, employees, and shareholders.

Podgorski holds both a master’s and bachelor’s degree from Western New England University in Springfield and brings a wealth of financial experience to his new role at TechPrecision.

Founded in 2006, TechPrecision is the parent company of Ranor and Stadco, a manufacturer of flight components, assemblies, and tooling based in Los Angeles.

The appointment of Phillip Podgorski as CFO reflects TechPrecision’s strategic focus on financial leadership and operational excellence. With his background in the defense sector and extensive financial expertise, Podgorski is poised to contribute significantly to the company’s continued success and growth.