B.F. Goodrich CFO Plans to Step Down

B.F. Goodrich Co., the largest U.S. maker of aircraft landing gear, said Chief Financial Officer Laurence Chapman will leave by the end of the year and named Ulrich Schmidt as his successor. Chapman, 51, joined Goodyear as part of the company’s 1997 acquisition of Rohr Inc. and has served in the position since March 1999. Chapman said he isn’t leaving for another job and said he wants to spend time with his family. Schmidt, 50, is vice president of finance and business development for the company’s aerospace business. Profit and sales at Goodrich, based in Charlotte, N.C., have declined for four straight quarters. It has cited higher raw-material costs at its chemical business and a decline in large-aircraft production. The company said last month it expects sales to rise this year. Goodrich shares fell $1.75 to close at $36.81 on the NYSE.

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