Schuster Plans To Retire from HBC

 - December 1, 2008, 4:54 AM

Jim Schuster, Hawker Beechcraft’s chairman and CEO since June 2001, on November 20 announced his intention to retire from the Wichita aircraft manufacturer. “Earlier this month, I began discussing my retirement plans with our board. After nearly eight years as CEO, I feel the time is right,” Schuster said. He will continue to lead Hawker Beechcraft until the company identifies a successor, and will remain a shareholder after he leaves the company. Under Schuster’s leadership the company reinvigorated the Hawker and Beechcraft brands, a move that helped to smooth the company’s transition from Raytheon Aircraft to Hawker Beechcraft when Raytheon sold the company to Goldman Sachs and Onex last year. Additionally, he is credited with helping the company generate a record order backlog in each of the last six consecutive quarters and certifying 19 derivative and new aircraft in the last eight years.