AAR chief executive to retire

David Storch, the chief executive of AAR Corp., is set to retire May 31, the company announced this week.

John Holmes, AAR's president and chief operating officer, will become CEO on June 1. Storch will continue to lead AAR's board as non-executive chairman and work with Holmes on strategy, talent development and industry relations, the company said.

Holmes joined AAR 16 years ago as director of mergers and acquisitions. He became president and COO last year.