Gogo Appoints Monte Koch, Chair Emeritus of the NBAA, to Board of Directors

Rhea-AI Summary

Gogo Inc. (NASDAQ: GOGO) has appointed Monte Koch to its Board of Directors, expanding it from 9 to 10 members. Koch, the Chair Emeritus of the National Business Aviation Association (NBAA), brings extensive expertise in business aviation and finance. With over 5,000 hours as a pilot and a 25-year career in finance, Koch's appointment is expected to benefit Gogo as it launches new inflight connectivity products. Oakleigh Thorne, Gogo's Chairman and CEO, highlighted Koch's unique insights into the business aviation ecosystem and his potential to help Gogo capture more opportunities in the underpenetrated market.

Positive

• Appointment of Monte Koch, an industry expert, to the Board of Directors
• Koch's extensive experience in business aviation and finance
• Potential for improved market penetration and product development
• Expansion of the Board from 9 to 10 members, potentially bringing fresh perspectives

Negative

• None.

News Market Reaction – GOGO

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-3.69% News Effect

On the day this news was published, GOGO declined 3.69%, reflecting a moderate negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

BROOMFIELD, Colo., July 24, 2024 /PRNewswire/ -- The Board of Directors of Gogo Inc. (NASDAQ: GOGO) ("Gogo" or the "Company") today announced the appointment of Monte Koch as a member of the Board, effective July 17, 2024, expanding the Board from 9 to 10 directors.

"Monte brings unique, deep expertise on the business aviation ecosystem and is a valuable addition to Gogo's Board," said Oakleigh Thorne, Gogo Chairman and CEO. "For nearly 20 years, Monte served on the Board of the National Business Aviation Association, not to mention logging over 5,000 hours as a pilot, reflecting his lifelong passion for private aviation."

"That experience, coupled with his 25-year career in finance and role as a public company director, will benefit Gogo and our shareholders as we launch new products that deliver order of magnitude improvements in inflight connectivity, and capture more of the opportunity in the underpenetrated business aviation market," Thorne said.

"Gogo has a long history as the clear business aviation inflight connectivity technology and service leader, and I am proud to join the Board at this exciting time for the Company," said Koch. "Gogo's next-generation products create opportunity to serve all business aviation customers around the world and will unlock significant value creation opportunity."

Monte Koch Biography

Mr. Koch is a private investor and a retired Partner of BDT & Company, a distinguished merchant bank managing over $20 billion in assets.

Mr. Koch is Chair Emeritus of the National Business Aviation Association (NBAA), the leading trade association serving the business aviation community, following his tenure as a board member from 2005 to 2023, including serving his last two years as NBAA's Board Chair.

Additionally, Mr. Koch serves as a Director of Choice Hotels International, a publicly traded company managing over 7,000 hotels worldwide.

An accomplished pilot, Mr. Koch holds an Air Transport Pilot rating with more than 5,000 hours of flight time and is type-rated in various aircraft, including the Falcon 10, Falcon 50/900, Gulfstream G-IV/G450, Gulfstream G-V/G550 and Boeing 747-400. He also holds helicopter and seaplane ratings.

Earlier in his career, Mr. Koch co-founded and served on the board of Ten-X / Auction.com, the largest online marketplace for residential and commercial real estate in the U.S. He also had a 25-year career in investment banking, including roles as the Global Head of Real Estate Investment Banking at Deutsche Bank Securities, the U.S. investment banking and securities arm of German banking firm Deutsche Bank, as well as serving as its Chairman of Mergers and Acquisitions for the Americas.

Mr. Koch graduated from The College of William & Mary with a Bachelor of Business Administration in management.

About Gogo
Gogo is the world's largest provider of broadband connectivity services for the business aviation market. We offer a customizable suite of smart cabin systems for highly integrated connectivity, in-flight entertainment, and voice solutions. Gogo's products and services are installed on thousands of business aircraft of all sizes and mission types from turboprops to the largest global jets, and are utilized by the largest fractional ownership operators, charter operators, corporate flight departments and individuals.

As of March 31, 2024, Gogo reported 7,136 business aircraft flying with its broadband ATG systems onboard, 4,110 of which are flying with a Gogo AVANCE L5 or L3 system; and 4,285 aircraft with narrowband satellite connectivity installed. Connect with us at www.gogoair.com.

Media Relations Contact:	Investor Relations Contact:
Caroline Bosco	William Davis
+1 312-517-6127	+1 917-519-6994
cbosco@gogoair.com	wdavis@gogoair.com

 

View original content:https://www.prnewswire.com/news-releases/gogo-appoints-monte-koch-chair-emeritus-of-the-nbaa-to-board-of-directors-302204796.html

SOURCE Gogo Inc.

FAQ

Who is Monte Koch and why was he appointed to Gogo's Board of Directors?

Monte Koch is the Chair Emeritus of the National Business Aviation Association (NBAA) and was appointed to Gogo's Board of Directors due to his deep expertise in the business aviation ecosystem, his 25-year career in finance, and his experience as a pilot with over 5,000 flight hours.

How might Monte Koch's appointment impact Gogo's (GOGO) business strategy?

Monte Koch's appointment is expected to benefit Gogo (GOGO) as the company launches new inflight connectivity products. His expertise could help Gogo capture more opportunities in the underpenetrated business aviation market and potentially unlock significant value creation.

What is Monte Koch's background in the aviation industry?

Monte Koch served on the board of the National Business Aviation Association (NBAA) from 2005 to 2023, including two years as Board Chair. He is an accomplished pilot with an Air Transport Pilot rating, over 5,000 flight hours, and type ratings in various aircraft.

How has Gogo's (GOGO) Board of Directors changed with this appointment?

Gogo's (GOGO) Board of Directors has expanded from 9 to 10 members with the appointment of Monte Koch, effective July 17, 2024. This expansion brings additional expertise in business aviation and finance to the board.