Outsiders have been brought in to lead a recovery at MD Helicopters. The appointments follow the recent acquisition of the Mesa, Ariz., company by New York financial firm Patriarch Partners. Robert Rene, previously CEO of Hilton Hotels division InnMedia, was named MD Helicopters’ CEO. Randy Kesterson, formerly executive v-p and COO of Curtiss-Wright Controls, was appointed COO.
Under the direction of a new parent company, private investment firm Patriarch Partners, MD Helicopters has made more changes to its senior executive team. The company has named Peter Hokanson chief financial officer and acting CEO as the search for a permanent chief executive continues. Hokanson most recently served as vice president of business administration and information technology at Garrett Aviation.
In a statement released December 20, health and security assistance provider MedAire announced that its two largest shareholders have reached a letter agreement “outlining mutual goals and strategies relating to the direction and control of MedAire” that would effectively place control of the company in the hands of its largest competitor, International SOS (ISOS).
A proposed wholesale change to Embraer’s capital structure will see CEO Mauricio Botelho leave his chief executive’s post in April next year and become chairman of the new company until April 2009, the end of his three-year term. Embraer’s CEO since September 1995, 10 months after the company became a private enterprise, Botelho called the decision to step down a personal one.
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