- Laurans A. Mendelson to transition to Executive Chairman as Eric and Victor Mendelson become Co-CEOs effective May 1, 2025.
- HEICO (HEI, Financial) has grown its revenue from $26 million to $4 billion under the Mendelson leadership.
- FSG and ETG have expanded significantly, operating 61 and 59 facilities respectively.
HEICO Corporation (HEI) has announced a significant leadership transition slated for May 1, 2025. Laurans A. Mendelson, currently serving as Chairman and CEO, will assume the role of Executive Chairman. His sons, Eric A. Mendelson and Victor H. Mendelson, will step into the roles of Co-Chief Executive Officers. This change follows a well-planned succession strategy that aligns with HEICO's existing operational dynamics.
Under the Mendelson family's management since 1990, HEICO has transformed from a company with $26 million in revenue into a global leader in the aerospace and defense industry, boasting approximately $4 billion in revenue and a market capitalization nearing $30 billion. The company now operates 121 facilities across 15 countries and 29 U.S. states.
The Flight Support Group (FSG), led by Eric Mendelson, has evolved from a $20 million single-product business into a major aerospace component manufacturer with 61 facilities. Meanwhile, the Electronic Technologies Group (ETG), under Victor Mendelson's leadership, has grown to 59 facilities providing mission-critical electronic systems. A $100,000 investment in HEICO at the time the Mendelson family took over has ballooned to over $100.2 million, reflecting a compound annual growth rate of 22%.
Eric and Victor Mendelson have been Co-Presidents of HEICO since 2009, overseeing their respective divisions, FSG and ETG, both of which have seen remarkable growth under their leadership. Their transition to Co-CEOs is a formal recognition of their contributions and a testament to their effective partnership in driving the company's success.
HEICO's decentralized and entrepreneurial management structure is a key factor in its success, empowering business leaders at each subsidiary to manage operations independently. Laurans Mendelson will continue to play a crucial role as Executive Chairman, providing strategic direction and overseeing important investor and constituency relationships, ensuring continuity and stability during this transition.
For more detailed information about HEICO's operations and future plans, interested parties are encouraged to visit the company's website.
