ATSG Announces Executive Leadership Succession
04 Giugno 2024 - 2:00PM
Business Wire
Joe Hete Appointed Executive Chairman
Mike Berger Appointed Chief Executive
Officer
Board Member Jeffrey Dominick Appointed
President
Air Transport Services Group, Inc. (NASDAQ: ATSG), the global
leader in medium wide-body freighter aircraft leasing, air
operations, and support services, today announced that it is
implementing the following succession plan: Joe Hete, who currently
serves as Chairman of the Board of Directors and Chief Executive
Officer, has been appointed Executive Chairman; Mike Berger, who
currently serves as President, has been appointed Chief Executive
Officer and a member of the company’s Board; and Jeffrey Dominick,
who currently serves as a member of the Board of Directors, has
been appointed President. These changes are effective
immediately.
Randy Rademacher, Lead Independent Director, said, "Today’s
announcement demonstrates our deep bench of talent at both the
executive and Board level. Last year we were fortunate to have Joe
step back into the CEO role at an important time for ATSG, and we
are pleased he will continue to play a key role in guiding the
company forward as Executive Chairman. We look forward to
continuing to benefit from his extensive knowledge, distinguished
leadership, and insights as we position ATSG for the future.”
Rademacher continued, “We are also excited to appoint Mike as
the company’s next CEO. He has been an integral member of our
management team since 2018, and he has helped to shape the
company’s long-term strategic plan. ATSG will certainly benefit
from his deep understanding of the global air freight industry and
proven track record of success as a leader. Additionally, we are
delighted to welcome Jeff to the company’s leadership team. Having
served on our Board for over seven years, Jeff brings his vast
experience in our business and competitive position to his new role
as President, as well as significant expertise in capital markets
and investing in airline and aircraft-related transactions. With
today’s appointments, we are confident we have the right team in
place to continue building on our strong foundation, solidifying
our market-leading position, providing opportunities for our
employees, and delivering meaningful value for our
shareholders.”
Hete said, “It has been a privilege to serve as CEO again during
this transitional period, and I look forward to moving into the
Executive Chairman role and working closely with Mike and Jeff to
help oversee ATSG’s ongoing success, drive value for all our
stakeholders and deliver against our strategic priorities.”
Berger said, “As we work to create the world’s premier provider
of aircraft leasing and cargo and passenger air transportation
solutions, I am both honored and humbled to serve as the company’s
next CEO. With our resilient business model and diverse customer
base, ATSG has considerable momentum underway. I am eager to
continue collaborating with our talented management team as we
execute our strategy of delivering best-in-class transportation
solutions for our air carriers, e-commerce leaders, government
agencies and other stakeholders globally.”
About Joe Hete
Hete has held the position of Chairman of ATSG Board since May
2020 and CEO of the company since November 2023, following his
prior service as CEO of the company from October 2007 to May 2020.
Hete also previously served as the President of the company from
October 2007 to September 2019 and as the CEO of the company’s
subsidiary, ABX Air, Inc., from August 2003 to May 2020. Hete is a
well-known and highly respected pioneer in the global air freight
industry and brings approximately 40 years of leadership experience
in the space.
About Mike Berger
Berger joined ATSG in 2018 and was promoted to President in
October 2023. Prior to his role as President, he served as the
company’s Chief Strategy Officer and Chief Commercial Officer and
President of the company’s Airborne Global Solutions subsidiary.
Prior to ATSG, he held senior leadership positions at major air
express companies including DHL, TNT in Europe, and with Dicom
Transportation Group of Canada. He began his career with Airborne
Express.
About Jeffrey Dominick
Dominick is a Managing Partner of Westport, Connecticut-based
AirWheel Investments L.P., a private equity fund founded in 2015
that invests in the commercial aviation sector. He has been a
member of ATSG’s Board since November 2022 and previously served on
the Board from 2008 to 2012. He stepped down from the Board when he
accepted a position as a Managing Director at BlackRock Inc., a
stockholder of ATSG, and is again stepping down from the ATSG Board
to assume the role of President. Prior to BlackRock Inc., he was
the Managing Director and Head of Non-Correlated Investments for
Babson Capital Management LLC, a wholly owned subsidiary of the
MassMutual Financial Group, and also worked in private equity and
M&A for MassMutual Capital Partners. Dominick specialized in
investing in airline and aircraft-related transactions for
MassMutual and BlackRock. Prior to MassMutual, Dominick worked in
Leverage Finance for Deutsche Bank and J.P. Morgan Chase.
About ATSG
Air Transport Services Group (ATSG) is a premier provider of
aircraft leasing and cargo and passenger air transportation
solutions for both domestic and international air carriers, as well
as companies seeking outsourced airlift services. ATSG is the
global leader in freighter aircraft leasing with a fleet that
includes Boeing 767, Airbus A321, and Airbus A330 converted
freighters. ATSG's unique Lease+Plus aircraft leasing opportunity
draws upon a diverse portfolio of subsidiaries including three
airlines holding separate and distinct U.S. FAA Part 121 Air
Carrier certificates to provide air cargo lift, passenger ACMI and
charter services. Complementary services from ATSG's other
subsidiaries allow the integration of aircraft maintenance, airport
ground services, and material handling equipment engineering and
service. ATSG subsidiaries comprise ABX Air, Inc.; Airborne Global
Solutions, Inc.; Airborne Maintenance and Engineering Services,
Inc., including its subsidiary, Pemco World Air Services, Inc.; Air
Transport International, Inc.; Cargo Aircraft Management, Inc.;
LGSTX Services, Inc.; and Omni Air International, LLC. For further
details, please visit www.atsginc.com.
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Joe Payne, ATSG Chief Legal Officer & Secretary, ATSG, Inc.
937-366-2686
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