Management ChangeJul 8, 2026, 06:07 AM
Butler National CEO Reedy Resigns; CFO Sefchick Appointed Interim CEO
AI Summary
Butler National Corporation announced that Christopher J. Reedy resigned as Chief Executive Officer on June 15, 2026, and will transition to a Special Advisor role until July 1, 2027. Adam Sefchick, the current Chief Financial Officer, has been appointed Interim Chief Executive Officer and President, taking on dual responsibilities. The company reported an Aerospace Products backlog of $47.06 million for fiscal year 2026, up from $33.61 million in 2025, but noted significant customer concentration risks and a 5% decrease in traditional casino gaming revenue.
Key Highlights
- Christopher J. Reedy resigned as CEO on June 15, 2026.
- Adam Sefchick, CFO, appointed Interim CEO and President on June 15, 2026.
- Aerospace Products backlog increased to $47.06 million in 2026 from $33.61 million in 2025.
- 39.1% of 2026 revenue came from five customers; 29.9% from two major customers.
- Traditional casino gaming revenue decreased by 5% in fiscal 2026 vs. 2025.
- Company had 158 full-time and 6 part-time non-gaming employees as of April 30, 2026.
- Boot Hill Casino had 184 full-time and 45 part-time employees as of April 30, 2026.
Price Impact
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