Investing.com -- Shares of Curtiss-Wright Corporation (NYSE: CW) slipped in premarket trading Wednesday following the announcement that Chief Financial Officer K. Christopher Farkas will step down from his post after six years leading the defense contractor’s finance operations. The executive transition adds a second high-level leadership change for the company in less than a month, coming shortly after Chief Executive Officer Lynn M. Bamford outlined her own upcoming retirement plans.

Curtiss-Wright shares fell 3.3% in premarket trade following the Tuesday post-market announcement. The market reaction mirrored a similar decline in late September when the company disclosed that Bamford would transition to Executive Chair at year-end, handing the CEO role to Chief Operating Officer Kevin M. Rayment on January 1, 2027.

Under the financial transition plan, Farkas has relinquished the CFO role immediately but will remain as an executive vice president through the end of the calendar year to ensure an orderly handoff. Gary Ogilby, senior vice president and corporate controller, assumed interim CFO duties on October 6 while the board conducts a search for a permanent successor.

Farkas joined the company in 2009 and served in several senior leadership roles before taking over as financial chief in 2020. During his tenure, he played a central role in guiding capital allocation and balance sheet management under the company’s Pivot to Growth strategy.

The management changes arrive as Curtiss-Wright maintains strong operational momentum across its core aerospace, defense, and commercial nuclear power divisions. The company confirmed that Farkas’ departure is unrelated to underlying business or financial performance, with third-quarter earnings scheduled for release on November 4, 2026.

Ogilby brings extensive internal experience to the interim position, having overseen accounting operations, financial reporting, and acquisition integrations since taking over as controller in 2020. Before joining Curtiss-Wright in 2010, the certified public accountant worked in the audit practice of Ernst & Young focusing on multinational public companies.

Investors are likely to monitor the dual executive handoffs closely as the board works to establish long-term leadership continuity. The search for a permanent CFO now runs parallel to the upcoming chief executive transition, placing heightened focus on execution ahead of next month's financial results.

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