Curtiss-Wright Corp. shares fell 4.0% in morning trading Tuesday after the company announced a leadership change at the top of its executive structure.

The company's board elected Chief Operating Officer Kevin M. Rayment to succeed Lynn M. Bamford as President and Chief Executive Officer, effective January 1, 2027. Bamford, who has led the company as CEO for six years, will transition to the role of Executive Chair rather than leaving the organization.

Rayment has spent 35 years working across Aerospace & Defense, Commercial Nuclear, and Industrial markets. He joined Curtiss-Wright in 2004 and has held multiple senior leadership positions before becoming Executive Vice President and COO in 2021.