FLYHT Announces CEO Changes
FLYHT Aerospace Solutions (TSXV:FLY)(OTCQX:FLYLF) has announced significant leadership changes. Mr. Kent Jacobs has departed as President and Interim CEO, effective immediately. Executive Chair Mary McMillan has been appointed as Interim CEO, supported by CFO Alana Forbes and the executive leadership team.
The Board plans to initiate a search for a permanent CEO. McMillan expressed gratitude for Jacobs' 23 years of service, particularly his leadership in completing the development of the AFIRS Edge and 5G aviation solutions. The Board is committed to creating shareholder value, with the future CEO expected to focus on accelerating Edge commercialization, driving revenue, and achieving sustainable profitability and positive EBITDA.
FLYHT Aerospace Solutions (TSXV:FLY)(OTCQX:FLYLF) ha annunciato cambiamenti significativi nella leadership. Il signor Kent Jacobs ha lasciato il ruolo di Presidente e CEO ad interim, con effetto immediato. Il Presidente Esecutivo Mary McMillan è stata nominata CEO ad interim, supportata dal CFO Alana Forbes e dal team di leadership esecutiva.
Il Consiglio prevede di avviare una ricerca per un CEO permanente. McMillan ha espresso gratitudine per i 23 anni di servizio di Jacobs, in particolare per la sua leadership nel completare lo sviluppo dell' AFIRS Edge e delle soluzioni di aviazione 5G. Il Consiglio è impegnato a creare valore per gli azionisti, e il futuro CEO si aspetta che si concentri su accelerare la commercializzazione di Edge, aumentare i ricavi e raggiungere una redditività sostenibile e un EBITDA positivo.
FLYHT Aerospace Solutions (TSXV:FLY)(OTCQX:FLYLF) ha anunciado cambios significativos en el liderazgo. El Sr. Kent Jacobs ha dejado su cargo como Presidente y CEO interino, con efecto inmediato. La Presidenta Ejecutiva Mary McMillan ha sido nombrada CEO interina, apoyada por la CFO Alana Forbes y el equipo de liderazgo ejecutivo.
La Junta planea iniciar la búsqueda de un CEO permanente. McMillan expresó su gratitud por los 23 años de servicio de Jacobs, especialmente por su liderazgo en la finalización del desarrollo del AFIRS Edge y soluciones de aviación 5G. La Junta está comprometida a crear valor para los accionistas, y se espera que el futuro CEO se enfoque en acelerar la comercialización de Edge, impulsar los ingresos y lograr rentabilidad sostenible y un EBITDA positivo.
FLYHT 항공우주 솔루션 (TSXV:FLY)(OTCQX:FLYLF)은 상당한 리더십 변경 사항을 발표했습니다. Kent Jacobs 씨가 즉시 효력을 발휘하는 대통령 및 임시 CEO로서 직위를 떠났습니다. 전무 의장 Mary McMillan이 임시 CEO로 임명되었으며, CFO Alana Forbes와 임원 리더십 팀의 지원을 받고 있습니다.
이사회는 상임 CEO를 찾기 위한 절차를 시작할 계획입니다. McMillan은 Jacobs의 23년간의 서비스에 대해 감사의 뜻을 표했으며, 특히 AFIRS Edge 및 5G 항공 솔루션 개발을 완료하는 그의 리더십을 강조했습니다. 이사회는 주주 가치를 창출하는 것에 전념하고 있으며, 미래의 CEO는 Edge 상업화 가속화, 수익 증대 및 지속 가능한 수익성 및 긍정적인 EBITDA 달성에 중점을 두기를 기대하고 있습니다.
FLYHT Aerospace Solutions (TSXV:FLY)(OTCQX:FLYLF) a annoncé des changements significatifs dans sa direction. M. Kent Jacobs a quitté son poste de Président et CEO par intérim, avec effet immédiat. Mary McMillan, Présidente Exécutive, a été nommée CEO par intérim, soutenue par la CFO Alana Forbes et l'équipe de direction exécutive.
Le Conseil prévoit de lancer une recherche pour un CEO permanent. McMillan a exprimé sa gratitude pour les 23 années de service de Jacobs, en particulier pour sa direction dans la finalisation du développement de l'AFIRS Edge et des solutions aéronautiques 5G. Le Conseil s'engage à créer de la valeur pour les actionnaires, le futur CEO étant censé se concentrer sur l'accélération de la commercialisation d'Edge, la génération de revenus et l'atteinte d'une rentabilité durable et d'un EBITDA positif.
FLYHT Aerospace Solutions (TSXV:FLY)(OTCQX:FLYLF) hat bedeutende Veränderungen in der Führung angekündigt. Herr Kent Jacobs hat mit sofortiger Wirkung als Präsident und interimistischer CEO das Unternehmen verlassen. Die Executive Chair Mary McMillan wurde zur interimistischen CEO ernannt, unterstützt von CFO Alana Forbes und dem Führungsteam.
Der Vorstand plant, die Suche nach einem dauerhaften CEO einzuleiten. McMillan drückte ihre Dankbarkeit für Jacobs' 23 Jahre Dienstzeit aus, insbesondere für seine Führung während der Entwicklung des AFIRS Edge und von 5G-Lösungen für die Luftfahrt. Der Vorstand hat sich verpflichtet, Wert für die Aktionäre zu schaffen, wobei der zukünftige CEO voraussichtlich den Fokus auf die Beschleunigung der Edge-Kommerzialisierung, die Steigerung der Einnahmen und das Erreichen von nachhaltiger Rentabilität sowie positivem EBITDA legen wird.
- Completion of AFIRS Edge development
- Development of 5G aviation solutions
- Board commitment to creating shareholder value
- Focus on accelerating Edge commercialization
- Emphasis on driving revenue and achieving profitability
- Departure of long-serving President and Interim CEO
- Potential leadership instability during CEO transition
CALGARY, AB / ACCESSWIRE / August 21, 2024 / FLYHT Aerospace Solutions Ltd. ("FLYHT" or the "Company") (TSXV:FLY)(OTCQX:FLYLF) today announced the departure of Mr. Kent Jacobs as President and Interim Chief Executive Officer ("CEO") of the Company, effective immediately. Executive Chair of the Board, Mary McMillan, has been named Interim CEO and will assume the CEO responsibilities, supported by Chief Financial Officer, Alana Forbes, and the Company's executive leadership team. The Board plans to initiate a search to identify a permanent Chief Executive Officer for the Company.
"We owe our heartfelt gratitude to Kent for his dedicated service to FLYHT over the past 23 years, and in particular for leading the company over the past two years as we have completed the development of the AFIRS Edge," said McMillan. "Kent has shepherded the development of our 5G aviation solutions, maintained a strong and innovative culture since losing FLYHT's founder, Bill Tempany, and put in place a solid foundation that sets our company up for success."
Added McMillan, "As we look ahead, our Board is fully committed to creating and delivering value to our shareholders. The person we identify to lead FLYHT going forward will share that deep commitment, and focus on accelerating the commercialization of the Edge, driving revenue, and bringing the Company to profitability and positive EBITDA on a sustainable basis."
About FLYHT Aerospace Solutions Ltd.
FLYHT provides airlines with Actionable Intelligence to transform operational insight into immediate, quantifiable action, and delivers industry leading solutions to improve aviation safety, efficiency, and profitability. This unique capability is driven by a suite of patented aircraft certified hardware products, AFIRS™. Solutions include an aircraft satcom/interface device that enables cockpit voice communications, transmission of aircraft data both while inflight via satellite and post-flight via 5G, real-time aircraft state and fleet status analysis, and preventative maintenance solutions. FLYHT's hardware products can also be interfaced with FLYHT's proprietary relative humidity sensors to deliver airborne weather and humidity data in real-time.
FLYHT is headquartered in Calgary, Canada, and is an AS9100 Quality registered company. For more information, visit www.flyht.com.
Cautionary Note Regarding Forward-Looking Statements
Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. In particular, forward-looking information in this press release includes, but is not limited to, statements with respect to projected revenues and related matters. Although FLYHT believes that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. FLYHT cannot guarantee future results, performance, or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.
Forward-looking information is based on the opinions and estimates of management at the date the statements are made and are founded on the basis of expectations, assumptions and hypotheses made by the Company, including, but not limited to projected revenues. Such forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include but are not limited to global economic conditions, industry conditions, and supply chain delays. Readers are cautioned that this list of risk factors should not be construed as exhaustive.
The forward-looking information contained in this news release is expressly qualified by this cautionary statement. FLYHT undertakes no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.
Contact Information:
FLYHT Aerospace Solutions Ltd. | FNK IR LLC |
Alana Forbes | Matt Chesler, CFA |
Chief Financial Officer | Investor Relations |
403.291.7437 | 646.809.2183 |
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Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: FLYHT Aerospace Solutions Ltd.
View the original press release on accesswire.com
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