Last week Hawker Beechcraft chairman and CEO Bill Boisture warned employees that due to “significant economic challenges…we are making a host of difficult business decisions to preserve our company. These decisions will include a reduction in force and changes to employee benefits.” According to an August 17 memo to employees, Boisture said he accepted the resignation of three executives (George Nguyen, senior v-p of operations; Gail Lehman, v-p, general counsel and secretary; and Charles Mayer, v-p of marketing). Boisture also revealed that he is taking a 10-percent pay cut; that president of customer service and support Bill Brown is now responsible for manufacturing and assembly operations in Wichita and Salina, Kan.; Little Rock, Ark.; and Mexico; and that Christi Tannahill is now responsible for global customer service and support. “While we continue to have a significant backlog,” Boisture said during a financial results conference on August 13, “the visibility does remain unclear in the near term due to market conditions and ability of buyers to take delivery.” The backlog at the end of the second quarter was valued at $6.8 billion.
Boisture Makes More Changes at Hawker Beechcraft
- August 20, 2009, 7:46 AM