Company: HEI-A
Filing Date: 2025-01-31
Form Type: DEF 14A
Source: 0001140361-25-002543
Chunk: 29

Company: HEICO CORP
Filing Date: 2025-01-31
Form: DEF 14A
Chunk 29
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 Board and Chief Executive Officer, along with Board committees that are chaired by independent directors (with the exception of the Executive Committee chaired by Mr. Laurans Mendelson) is the appropriate leadership structure for the Company at this time, and is one that provides exceptional value to HEICO and its shareholders. Mr. Mendelson has vast expertise in the aerospace, defense and electronics industries and a proven track record of successful leadership, as evidenced by HEICO’s substantial and consistent revenue, net income, cash flow and share value growth in the past 35 years, even though the period saw several economic downturns. The combined role fosters open communication between the Board and management team, provides both groups with unified leadership and promotes efficient development and execution of the Company’s strategic plan. The independent directors meet as frequently as they desire, but at least once per year, in an executive session while an executive session without management present is included as an option on every regular board agenda. The independent directors elect a presiding director to act as the lead independent director for each executive session among the chairs of the committees of the Board on a rotating basis. Board Risk Oversight While the Company’s management team takes primary responsibility for risk management, the Board plays a large role in the oversight, evaluation and strategy for handling the material risks facing the Company. HEICO's operating risks include a variety of risks, both financial and operational, some of which may manifest themselves in unforeseen ways, which may affect our ability to anticipate, fully comprehend, mitigate or respond to them. At regular intervals, HEICO’s management team presents the Board with reports on critical risks currently affecting or potentially impacting the business. These reports timely identify for the Board the nature of material risks, so they may respond appropriately. The Board addresses risk management at both the full Board and committee levels. The full Board oversees risks that may impact HEICO and its subsidiaries as a whole, with particular emphasis on operational and strategic risk; while each committee oversees specific areas of risk within its purview. The full Board is responsible for overseeing HEICO’s cybersecurity risks. To this end, the full Board receives regular reports from management on system vulnerabilities and security measures in effect to deter or mitigate breaches or hacking activities. For additional information about the Company’s cybersecurity strategy and initiatives, see Part I, Item 1C of the Company’s 2024 Annual Report on Form 10-K. The Finance/Audit Committee is responsible for overseeing HEICO’s financial risks, including the adequacy of internal controls, compliance, financial reporting, and tax positions