Atlas Air Worldwide Announces Leadership Transition Plan
July 02 2019 - 9:00AM
Atlas Air Worldwide Holdings, Inc. (Nasdaq: AAWW) today announced
that President and Chief Executive Officer William J. (Bill) Flynn
will retire from the company effective January 1, 2020, after a
successful 13-year tenure, and become Chairman of the Board on that
date.
The board has appointed John W. Dietrich,
current Executive Vice President and Chief Operating Officer, as
Mr. Flynn’s successor. Mr. Dietrich will become President and Chief
Operating Officer effective immediately, and he will retain the
role as President when he assumes the role of Chief Executive
Officer on January 1, 2020.
Additionally, Robert F. Agnew, current Chairman
of the Board, will become the Board’s Lead Independent Director,
effective January 1, 2020.
The transitions and appointments are the
culmination of a comprehensive succession process led by the board
to ensure strong leadership continuity as the company continues to
advance its strategic growth agenda. Continuing to serve on the
Senior Leadership Team are Michael Steen, Executive Vice President
and Chief Commercial Officer, and President and Chief Executive
Officer of Titan Aviation Holdings, Inc.; Spencer Schwartz,
Executive Vice President and Chief Financial Officer; Adam Kokas,
Executive Vice President, General Counsel and Secretary; and
Patricia Goodwin-Peters, Senior Vice President, Human
Resources.
“One of our key responsibilities as a board is
the implementation of a leadership transition plan to ensure the
company’s continued success in the future,” said Mr. Agnew. “Given
John’s depth of experience and proven track record of performance,
we are confident that he is uniquely suited to take on the Chief
Executive Officer role and lead Atlas into its next growth
phase.
“On behalf of the board, I want to thank Bill
for his extraordinary leadership. He has built a company that is
more dynamic, more profitable, and better-positioned to deliver
continued success. Under his leadership, we have grown our fleet,
diversified our service offerings, broadened our customer base, and
developed a world-class team of talented, customer-focused
employees. Bill is well-prepared to have a significant impact as
Chairman of the Board.”
During Mr. Flynn’s tenure, the company has
become the leading provider of outsourced aviation
services. Key significant achievements include the
transformation of Polar Air Cargo with the DHL joint venture;
investment in the 747-8F platform; acquisition of Southern Air,
which added 777 and 737 operating capabilities to the suite of
services; growth in relationships with express and e-commerce
customers; expansions with long-term customers; and entry into
passenger charter flying. Additionally, the company launched
and expanded its dry-leasing subsidiary, Titan, to become one of
the leading freighter-centric leasing companies with potential for
further growth.
“It has been a great privilege to lead the
company through this period of tremendous growth, and strengthen
our position as a leader in global aviation outsourcing,” said Mr.
Flynn. “I am proud of our dedicated and experienced employees, and
the business we have built as a team.
“For over two decades, John has had an
unparalleled commitment to this company and our employees. He also
has played a key role in driving our success. He has the visionary
leadership and solid expertise needed to usher in a new era of
growth. I look forward to working with John, my fellow board
members, and the Senior Leadership Team as we continue executing
our strategic growth agenda to create long-term value for our
customers, shareholders and employees.”
Mr. Dietrich has over 30 years of experience in
the aviation and air cargo industries, including more than 20 with
Atlas Air Worldwide. He has served in his current COO role since
2006, and is responsible for all aspects of the company’s global
operations. Mr. Dietrich joined the company in 1999 as Associate
General Counsel and was promoted to Senior Vice President, General
Counsel and Corporate Secretary in 2004, which included
responsibility for human resources and corporate communications.
Prior to joining Atlas Air Worldwide, Mr. Dietrich worked for
United Airlines for 13 years, serving as a corporate attorney in
his last position there.
“I am honored to have been selected to lead this
great company, and continue the strong momentum established under
Bill’s leadership,” said Mr. Dietrich. “We have an outstanding team
of employees and a powerful portfolio of aircraft and service
offerings. We are fortunate that Bill will continue to be an asset
to our team through his role as Chairman. Together with our Senior
Leadership Team and talented base of crew and ground staff
employees, I look forward to building future growth
opportunities.”
About Atlas Air
Worldwide:
Atlas Air Worldwide is a leading global provider
of outsourced aircraft and aviation operating services. It is the
parent company of Atlas Air, Inc., Southern Air Holdings, Inc. and
Titan Aviation Holdings, Inc., and is the majority shareholder of
Polar Air Cargo Worldwide, Inc. Our companies operate the world’s
largest fleet of 747 freighter aircraft and provide customers the
broadest array of Boeing 747, 777, 767, 757 and 737 aircraft for
domestic, regional and international cargo and passenger
operations.
Atlas Air Worldwide’s press releases, SEC
filings and other information may be accessed through the company’s
home page, www.atlasairworldwide.com.
Contacts: Debbie Coffey (Media)
– (914) 701-8951 Dan Loh (Investors) – (914) 701-8200 |
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