Aerospace e-procurement exchange Exostar has appointed Richard Addi as president and CEO.

Addi has held the title on an interim basis sine last July, when Kevin Lowdermilk left the firm for personal reasons. Lowdermilk is now president and CEO of ISO Group.

"The board decided to make the appointment [of Addi] permanent after assessing options to find the right person to lead the company over the long-term," says an Exostar spokesman.

Addi brings over twenty years of industry experience to the position, including having served as Exostar's CFO for four years. Prior to his tenure at Exostar, Addi was vice president of finance at Data Systems & Solutions, a specialist in asset management and predictive maintenance that was a joint venture between Rolls-Royce and SAIC.

"His track record of success at Exostar and elsewhere, including guiding Exostar to its strongest-ever financial position in 2010 while filling the President and CEO roles on an interim basis, unquestionably makes him the right person for the job," says Exostar chairman Paul Kaminski.

Established in 2000 and owned by BAE Systems, Boeing, Lockheed Martin, Raytheon and Rolls-Royce, Exostar offers customers a suite of online products covering sourcing, collaboration and procurement for buyers and suppliers. News of Addi's appointment comes as Aviation Week kicks off its MRO Americas show in Miami.

Source: Air Transport Intelligence news