IPOs Are Back and Changing Aerospace Deals, Here’s Why w/ Nick Fazioli [Replay]

From Manager to C-Suite: The Hardest Transition in Leadership w/ Bill Koch [Replay]

The transition from being a rockstar in your vertical to leading at the C-suite level is one of the hardest jumps in modern business.  Not because you aren’t capable, but because the job changes faster than anyone prepares you for, and the timeline to become effective has collapsed from years to months. You used to have a multi-year runway to listen, learn, and settle in. Now the proving ground has accelerated, and you’re expected to think enterprise-wide, set direction, shape culture, and operate with conviction almost immediately. And that’s where so many leaders get blindsided. They step into the role with deep expertise, strong track records, and every intention of succeeding. But they quickly discover that the behaviors that powered their rise don’t automatically translate to the top job.  The stakes are higher, the scrutiny is sharper, and the margin for a slow learning curve is gone. Boards, investors, and teams are already forming judgments before you’ve even taken your seat. And without realizing it, new executives find themselves operating on outdated instincts in a completely different environment. Bill Koch is a former CEO who now coaches leaders navigating some of the most high-pressure environments. He helps new CEOs compress the transition, build real executive presence, and operate with clarity and confidence. In this episode, we talk about how to accelerate that transition, how to understand how you’re actually being perceived, and how to adapt fast enough to avoid losing ground in your first critical months.   You’ll also learn; * Why the jump from functional mastery to C-suite leadership is so challenging * How the timeline for becoming effective has collapsed, and what that means for new executives. * The behaviors that helped you rise and why they can quietly derail you in a senior role. * How to understand the difference between vertical thinking and enterprise thinking. * Why a 360 assessment is often the first real mirror a new executive has ever seen. * How boards and teams perceive you long before you think they do * Why private equity environments expose leadership weaknesses faster than any other setting. * How to cultivate executive presence that signals quiet confidence, not overcompensation. * The importance of building a “personal boardroom” to think clearly under pressure.     Guest Bio Bill Koch is an executive coach with more than 25 years of C-suite and senior leadership experience across public companies, private enterprises, and private equity–backed firms. A former CEO himself, Bill brings a rare blend of operational depth, boardroom insight, and executive maturity to his coaching practice. His work centers on one mission: helping high performers become highly effective enterprise leaders. For more than a decade, Bill has served as a trusted advisor to CEOs and senior executives navigating high-pressure, high-visibility roles. He coaches leaders across Fortune 500 companies, growth-stage organizations, and academic institutions—guiding them through pivotal transitions, accelerated timelines, and complex leadership challenges. His clients turn to him to gain clarity, sharpen judgment, and build the confident executive presence required to lead at the top. Bill’s clients include American Express, Apple, Boeing, Goldman Sachs, John Deere, Mars, MGM, McKesson, Toyota, and others. To learn more, visit https://www.kochleadership.com/ [https://www.kochleadership.com/] or read Bill’s latest insights on Forbes [https://www.forbes.com/councils/forbescoachescouncil/2025/11/06/from-entrepreneur-to-enterprise-leader-the-founders-biggest-challenge/].  About Your Host Craig Picken is an Executive Recruiter, writer, speaker, and ICF Trained Executive Coach. He is focused on recruiting senior-level leadership, sales, and operations executives in the aviation and aerospace industry. His clients include premier OEMs, aircraft operators, leasing/financial organizations, and Maintenance/Repair/Overhaul (MRO) providers, and since 2008, he has personally concluded more than 400 executive-level searches in a variety of disciplines. Craig is the ONLY industry executive recruiter who has professionally flown airplanes, sold airplanes, and successfully run a P&L in the aviation industry. His professional career started with a passion for airplanes. After eight years’ experience as a decorated Naval Flight Officer – with more than 100 combat missions, 2,000 hours of flight time, and 325 aircraft carrier landings – Craig sought challenges in business aviation, where he spent more than 7 years in sales with both Gulfstream Aircraft and Bombardier Business Aircraft. Craig is also a sought-after industry speaker who has presented at Corporate Jet Investor, International Aviation Women’s Association, and SOCAL Aviation Association.    Resources For more aerospace industry news & commentary: https://craigpicken.com/insights/ [https://craigpicken.com/insights/].  To learn more about Craig Picken, visit https://craigpicken.com/ [https://craigpicken.com/].      Check out this episode on our website [https://aerospaceexecutive.podbean.com/], Apple Podcasts [https://podcasts.apple.com/us/podcast/the-aerospace-executive-podcast/id1353891134/], or Spotify [https://open.spotify.com/show/4yFXeO6eiYQTSDEtlQ2K6x?si=61d6b2bd825c4ed1/], and don't forget to leave a review if you like what you heard. Your review feeds the algorithm, so our show reaches more people. Thank you!

IPOs Are Back and Changing Aerospace Deals, Here’s Why w/ Nick Fazioli [Replay]

Aerospace has always been a cyclical industry, one sector up, another down, capital moving cautiously between them. That’s not what’s happening right now. Every major sector is ripping at the same time, for completely different reasons. Commercial is coming back online. Aftermarket and MRO have been running hot since COVID. Defense is being pulled forward by geopolitical demand. Business aviation has settled into a stronger, more stable “new normal.”  It’s rare to see this kind of synchronized momentum across the entire ecosystem, and when it happens, it changes how capital behaves. For years, aerospace exits were predictable. You built a solid business, ran an M&A process, and sold. IPOs were barely part of the conversation. Industrial manufacturing wasn’t exactly exciting to public market investors. Now, IPOs are not only viable, but they’re also often the better option. Industrial businesses that used to be seen as slow, capital-heavy, and unsexy are suddenly being revalued as AI-proof, infrastructure-critical, and in some cases, direct beneficiaries of the AI boom.  And that shift is forcing a new level of sophistication from operators. Because today, you’re not just deciding whether to sell; you’re deciding how to exit in a market with more options than ever before. At the same time, there’s a quiet risk underneath all of this. Fuel prices, geopolitical instability, and supply chain pressure. None of these have gone away. So the question isn’t just how long this run continues; it’s whether operators are actually prepared for the version of the market we’re in now. In this episode, I’m joined by the Global Head of Aerospace and Aviation Investment Banking at Jefferies, Nick Fazioli. He breaks down what’s really driving this moment across aviation, defense, and industrials, and what it means for operators thinking about growth, capital, and exit strategy.   You’ll also learn; * How “boring” industrial manufacturing became one of the most attractive investment categories * Why IPOs are suddenly back, and in some cases outperforming traditional M&A exits * How AI is indirectly reshaping aerospace valuations through energy, infrastructure, and supply chain demand * The rise of continuation vehicles and why operators now have more exit paths than ever before * Where private equity and institutional capital are actually placing bets right now (and why MRO is so competitive) * The hidden risks: fuel prices, geopolitics, and consumer pressure, and how quickly they could impact the system * Why operators need to become far more strategic, not just in building businesses, but in positioning them for exit     About the Guest Nick Fazioli is the Global Head of Aerospace and Aviation Investment Banking at Jefferies, where he leads one of the most active practices across commercial aviation, business aviation, and aerospace services. Over the past 16 years, he’s been at the center of some of the most significant transactions in business aviation, including the sale of Marquis Jet to NetJets and West Star Aviation’s exit to Greenbriar Equity Group. With a front-row seat to M&A, capital markets, and the evolving investor landscape, Nick brings a unique perspective on where capital is flowing and how operators should be thinking about growth and exit strategy in today’s market. Connect with Nick on LinkedIn [https://www.linkedin.com/in/nickfazioli/].  About Your Host Craig Picken is an Executive Recruiter, writer, speaker, and ICF Trained Executive Coach. He is focused on recruiting senior-level leadership, sales, and operations executives in the aviation and aerospace industry. His clients include premier OEMs, aircraft operators, leasing/financial organizations, and Maintenance/Repair/Overhaul (MRO) providers, and since 2008, he has personally concluded more than 400 executive-level searches in a variety of disciplines. Craig is the ONLY industry executive recruiter who has professionally flown airplanes, sold airplanes, and successfully run a P&L in the aviation industry. His professional career started with a passion for airplanes. After eight years’ experience as a decorated Naval Flight Officer – with more than 100 combat missions, 2,000 hours of flight time, and 325 aircraft carrier landings – Craig sought challenges in business aviation, where he spent more than 7 years in sales with both Gulfstream Aircraft and Bombardier Business Aircraft. Craig is also a sought-after industry speaker who has presented at Corporate Jet Investor, International Aviation Women’s Association, and SOCAL Aviation Association.    Resources For more aerospace industry news & commentary: https://craigpicken.com/insights/ [https://craigpicken.com/insights/].  To learn more about Craig Picken, visit https://craigpicken.com/ [https://craigpicken.com/].

Inside FDH Aero’s Billion-Dollar Distribution Strategy w/ Ian Walsh [Replay]

Most people think the aerospace supply chain is crawling back to normal after the pandemic. But that’s not what’s happening. The industry is scaling in a permanently elevated demand environment. Commercial aviation is rebuilding. Defense budgets are structurally higher. New platforms like EVTOL, drones, hypersonics, and space are moving into production. This isn’t a strain; it’s a structural transformation. And in a world obsessed with engines and airframes, the real leverage sits in the smallest parts. At the same time, complexity is rising. Aircraft are lighter, more electronic, and more integrated. Tolerances are tighter, and the margin for error is gone. This is where FDH Aero comes in: distribution reimagined as a strategic capability. In a high-velocity, high-complexity market, reliability becomes a strategy. How is FDH embedding itself within OEM production lines while operating under private-equity intensity? And what kind of leadership does that require? In this special replay episode, I’m joined by the CEO of FDH Aero, Ian Walsh.  We unpack how FDH Aero scaled to a billion dollars by mastering the parts that make flight possible. We also discuss why the next decade of aerospace growth may be less about building more airplanes and more about controlling the hardware layer beneath them. You’ll also learn: * Why aerospace supply chains aren’t “recovering”; they’re structurally transforming * How a single missing bolt can shut down a billion-dollar production line * Why distribution is becoming a strategic layer, not just a transactional one * The difference between organic growth and inorganic scale in a fragmented supply base * How private equity is accelerating consolidation in aerospace and defense * Why value creation in PE is about process discipline, not short-term spikes * The leadership shift required when moving from public OEMs to PE-backed companies * Why smaller, lighter, more electronic platforms will reshape parts demand * Where the real upside sits: commercial, defense, business aviation, or emerging platforms * How embedding into product development cycles creates long-term supply chain “stickiness.” * The mindset difference between statistical improvement and “luck wrapped in chaos.”   About the Guest Ian Walsh is the CEO of FDH Aero. He brings over 35 years of executive leadership across the U.S. Marine Corps, commercial and general aviation, defense, and industrial end markets to FDH. Most recently, Walsh served as Chairman, President, and Chief Executive Officer of Kaman Aerospace Corporation, a provider of highly engineered components and subsystems to commercial aviation, aerospace, defense, and medical end-markets. At Kaman, Walsh led the evolution of the global company into customer-centric operating segments. Before that, Walsh was COO at REV Group, Inc., a provider of specialty vehicles and related aftermarket parts, and spent more than 15 years in operational and P&L leadership at Textron, Inc. At both companies, Walsh drove new product development and process optimization. Earlier in his career, he served as an officer and naval aviator in the U.S. Marine Corps with combat tours in Somalia, Haiti, and Bosnia. He is a certified Six Sigma Black Belt in operations and continuous improvement. Connect with Ian on LinkedIn [https://www.linkedin.com/in/ian-walsh-76864a2b/].    About Your Host Craig Picken is an Executive Recruiter, writer, speaker, and ICF Trained Executive Coach. He is focused on recruiting senior-level leadership, sales, and operations executives in the aviation and aerospace industry. His clients include premier OEMs, aircraft operators, leasing/financial organizations, and Maintenance/Repair/Overhaul (MRO) providers. Since 2008, he has personally concluded more than 400 executive-level searches in a variety of disciplines. Craig is the ONLY industry executive recruiter who has professionally flown airplanes, sold airplanes, and successfully run a P&L in the aviation industry. His professional career started with a passion for airplanes. After eight years’ experience as a decorated Naval Flight Officer – with more than 100 combat missions, 2,000 hours of flight time, and 325 aircraft carrier landings – Craig sought challenges in business aviation, where he spent more than 7 years in sales with both Gulfstream Aircraft and Bombardier Business Aircraft. Craig is also a sought-after industry speaker who has presented at Corporate Jet Investor, International Aviation Women’s Association, and SOCAL Aviation Association.    Resources For more aerospace industry news & commentary: https://craigpicken.com/insights/ [https://craigpicken.com/insights/].  To learn more about Craig Picken, visit https://craigpicken.com/ [https://craigpicken.com/].

Aerospace Companies Need a New Kind of Manager w/ Matt Gjertsen

What is the minimum level of leadership an aerospace company needs to survive constant change? Because technical excellence is not enough anymore. Aerospace and aviation companies are being pushed to move faster, scale highly specialized teams, cut through bureaucracy, and make decisions before every variable is known. But many are still promoting great engineers, operators, and technical specialists into management with almost no preparation for the job they are actually being asked to do. Then leadership wonders why information gets trapped, accountability disappears, teams slow down, and high performers burn out. That is the problem behind Matt Gjertsen’s concept of the Minimum Viable Manager. The name sounds modest. The standard is not. At a minimum, managers need to know how to build trust, set clear expectations, and give useful feedback. Without those fundamentals, all the talk about innovation, speed, ownership, and high performance is just noise. You cannot scale technical capability if the people leading it do not know how to align a team, push performance, or create the conditions for others to succeed. And this matters because the aerospace companies pulling ahead are not just hiring better talent. They are building cultures that can move.  In this episode, I sit down with Matt, author of The Minimum Viable Manager and former Head of Training and Development at SpaceX. We talk about what aerospace companies can learn from SpaceX about hierarchy, ownership, and execution, and why technical expertise does not automatically produce strong leaders. We also discuss why companies that fail to develop managers alongside their workforce will eventually hit a wall.   What You’ll Discover In This Episode  * Why aerospace companies need a practical definition of effective management * How trust, clear expectations, and useful feedback support technical team performance * Why strong engineers and operators often struggle when they move into management * What SpaceX can teach aerospace leaders about hierarchy, ownership, and execution * Why fast-moving companies organize work around outcomes rather than inherited processes * How leaders can push technical teams beyond their comfort zones without creating burnout * Why responsibility must be accompanied by the authority to make decisions * What separates aerospace companies adapting to change from those slowed by bureaucracy * Why scaling the industry’s technical workforce also requires developing capable managers   About the Guest Matt Gjertsen is the founder of Built Leaders and the author of The Minimum Viable Manager. A former SpaceX learning and development leader, Air Force pilot, speaker, facilitator, and trainer, Matt helps innovative hard-tech companies build leaders capable of guiding teams through complex, high-stakes challenges. Through Built Leaders, he works with aerospace, defense, and energy companies to identify the leadership issues limiting team performance and develop practical, behavior-focused solutions. Over the past four years, his programs have trained hundreds of leaders across more than a dozen organizations. Connect with Matt on LinkedIn [https://www.linkedin.com/in/matthewgjertsen/], visit https://www.amazon.com/Minimum-Viable-Manager-Essential-Technical/dp/1774587270/ref=sr_1_1 [https://www.amazon.com/Minimum-Viable-Manager-Essential-Technical/dp/1774587270/ref=sr_1_1] to grab a copy of Matt's new book.   About Your Host   Craig Picken is an Executive Recruiter, writer, speaker, and ICF-trained Executive Coach. He is focused on recruiting senior-level leadership, sales, and operations executives in the aviation and aerospace industry. His clients include premier OEMs, aircraft operators, leasing/financial organizations, and Maintenance/Repair/Overhaul (MRO) providers, and since 2008, he has personally concluded more than 400 executive-level searches in a variety of disciplines. Craig is the ONLY industry executive recruiter who has professionally flown airplanes, sold airplanes, and successfully run a P&L in the aviation industry. His professional career started with a passion for airplanes. After eight years’ experience as a decorated Naval Flight Officer – with more than 100 combat missions, 2,000 hours of flight time, and 325 aircraft carrier landings – Craig sought challenges in business aviation, where he spent more than 7 years in sales with both Gulfstream Aircraft and Bombardier Business Aircraft. Craig is also a sought-after industry speaker who has presented at Corporate Jet Investor, International Aviation Women’s Association, and SOCAL Aviation Association.    Resources For more aerospace industry news & commentary: https://craigpicken.com/insights/ [https://craigpicken.com/insights/].  To learn more about Craig Picken, visit https://craigpicken.com/ [https://craigpicken.com/].

The Upstream Metals Strategy Keeping Aerospace Moving w/ Kelly Thomas

The aerospace supply chain does not only break at final assembly. Some of the most important pressure points sit much farther upstream, inside the specialized materials businesses; most of the industry only notices when something goes wrong. High-purity aluminum, specialty alloys, casting capacity, hedging, tariffs, geopolitical risk, and long-cycle inventory decisions all shape whether commercial aviation, defense, and space can keep moving.  When demand rises or supply gets disrupted, companies like Vista Metals have to make decisions long before the rest of the market feels the impact. In this episode, I talk with Kelly Thomas, CEO of Vista Metals Group, about the hidden risks inside the aerospace materials supply chain and what it takes to lead a business where capacity, capital, talent, and timing all have to line up before the market is ready. What You’ll Discover In This Episode  * Why high-purity aluminum has become a critical supply chain issue for aerospace manufacturersHow tariffs, geopolitical risk, and smelter disruptions affect companies far upstream in the supply chain * Why hedging can be a make-or-break discipline for companies carrying long-cycle metal inventory * How privately held aerospace suppliers can make long-term investments differently from public companies * Why Vista Metals has focused on hard alloys, specialty casting, and niche aerospace applications * How commercial aviation, defense, and space demand are shaping Vista’s growth outlook * Why smaller and privately owned companies often carry supply chain risk that the broader industry may underestimate * What leaders need to understand about moving from a large public company environment into a smaller, operator-led business * How Kelly Thomas thinks about leadership, feedback, communication, and building a no-politics culture * Why sitting in uncertainty may be one of the most important leadership skills in a volatile aerospace market About the Guest Kelly Thomas is the President and CEO of Vista Metals, the world’s largest independent producer of specialty aluminum products for the aerospace, defense, transportation, and industrial sectors. A globally experienced executive with more than two decades in metals and manufacturing, Kelly has built her career at the intersection of finance, operations, commercial strategy, and industrial leadership. She brings deep expertise in global metals markets, risk management, and complex manufacturing environments, along with a values-driven leadership style focused on performance, innovation, and long-term growth. Before joining Vista Metals, Kelly held senior leadership roles at Alcoa and Aleris, where she helped drive global strategy, manage multi-billion-dollar operations, and lead large teams across North America and Europe through periods of transformation and growth.   About Your Host Craig Picken is an Executive Recruiter, writer, speaker, and ICF-trained Executive Coach. He is focused on recruiting senior-level leadership, sales, and operations executives in the aviation and aerospace industry. His clients include premier OEMs, aircraft operators, leasing/financial organizations, and Maintenance/Repair/Overhaul (MRO) providers, and since 2008, he has personally concluded more than 400 executive-level searches in a variety of disciplines. Craig is the ONLY industry executive recruiter who has professionally flown airplanes, sold airplanes, and successfully run a P&L in the aviation industry. His professional career started with a passion for airplanes. After eight years’ experience as a decorated Naval Flight Officer – with more than 100 combat missions, 2,000 hours of flight time, and 325 aircraft carrier landings – Craig sought challenges in business aviation, where he spent more than 7 years in sales with both Gulfstream Aircraft and Bombardier Business Aircraft. Craig is also a sought-after industry speaker who has presented at Corporate Jet Investor, International Aviation Women’s Association, and SOCAL Aviation Association.    Resources For more aerospace industry news & commentary: https://craigpicken.com/insights/.  To learn more about Craig Picken, visit https://craigpicken.com/.