Westminster manufacturer hires former Raytheon executive as CFO
TechPrecision, a Westminster-based manufacturing holding company, has appointed Phillip Podgorski as the firm’s new CFO, effective Monday.
Podgorski comes to TechPrecision having most recently served in the same CFO capacity for 12 years at RTX Technology Research Center, a division of the Virginia-based aerospace technology company with about 1,000 employees working in Central Massachusetts. RTX was created out of the merger of Raytheon and United Technologies.
“Phil is a seasoned CFO with public company experience in the defense sector and a proven track record in financial strategy, scenario planning and operations,” TechPrecision CEO Alexander Shen said in a Monday press release. “Timely reporting is one of our fundamentals; the successful addition of Phil to TechPrecision is a major step to achieve and consistently maintain compliance to this requirement.”
In his previous role, Podgorski managed RTX’s generally accepted accounting principles, U.S. Securities and Exchange Commission, and government accounting reporting in addition to collaborating with stakeholders on strategic and scenario planning, according to the release.
Podgorski will receive an annual base salary of $265,000, a guaranteed bonus of $60,000 subject to certain conditions of employment, and a $180,000 grant of restricted shares of TechPrecision’s common stock, according to a Monday SEC filing.
Podgorski replaces Barbara Lilley, TechPrecion’s interim CFO. Lilley will continue in her position as controller of Ranor, a Westminster subsidiary of TechPrecion specializing in welded and machine component manufacturing.
Lilley has held her interim role since March 7, assuming the C-suite following the resignation of the company’s previous CFO Richard Roomberg, effective Feb. 14, according to a March 13 SEC filing.
“I am very excited about the opportunity to bring my years of experience to join Alex on the TechPrecision executive team. With my collaborative style, I look forward to working with the teams at Ranor, Stadco, and TechPrecision to effect positive changes in the finance areas and the company as a whole, enabling operations effectiveness to drive company results. With Alex, our strong focus is on making Ranor, Stadco and TechPrecision a company valued by its customers, employees and shareholders,” Podgorski said in the release.
Podgorski earned his master’s and bachelor’s degrees from Western New England University in Springfield.
Founded in February 2006, TechPrecision owns Ranor and Stadco, a Los Angeles flight component, assembly, and tooling manufacturer, according to TechPrecision’s website.
Mica Kanner-Mascolo is a staff writer at Worcester Business Journal, who primarily covers the healthcare and diversity, equity, and inclusion industries.
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