- After about seven months in the position
- Praise for Hete
- Mike Berger taking over
- Hete will remain as Executive Chairman at Air Transport
- Hete kept it short and said 50 words
(exechange) — Wilmington, Ohio, June 4, 2024 — Joe Hete, chief executive of Air Transport, leaves his position. As announced by Air Transport Services Group Inc. in a news release on Tuesday, June 4, 2024, Joseph C. (Joe) Hete leaves his post as chief executive officer at the provider of aircraft leasing and cargo and passenger air transportation solutions, after about seven months in the role, effective immediately.
Joe Hete’s duties as CEO will be taken over by Michael L. (Mike) Berger, previously President at Air Transport Services Group Inc.
“Deep bench of talent”
The management change is explained as follows. Randy Rademacher, Lead Independent Director, stated: “Today’s announcement demonstrates our deep bench of talent at both the executive and Board level. Last year we were fortunate to have Joe step back into the CEO role at an important time for ATSG, and we are pleased he will continue to play a key role in guiding the company forward as Executive Chairman. We look forward to continuing to benefit from his extensive knowledge, distinguished leadership, and insights as we position ATSG for the future.”
Hete will remain as Executive Chairman at Air Transport
Air Transport stated: “Joe Hete, who currently serves as Chairman of the Board of Directors and Chief Executive Officer, has been appointed Executive Chairman.”
Share price decline since January 2024
The announcement follows a decline in Air Transport Services Group Inc.’s share price of 16% since January 2024.
In the position of CEO since 2023
Joe Hete became CEO of the Company in 2023.
Joseph C. Hete has held the position of Chairman of the Board since May 2020 and Chief Executive Officer of the Company since November 2023, following his prior service as Chief Executive Officer of the Company from October 2007 to May 2020.
Hete also previously served as the President of the Company from October 2007 to September 2019 and as the Chief Executive Officer of the Company’s subsidiary, ABX Air, Inc., from August 2003 to May 2020.
Hete’s other prior roles with the Company’s businesses include: the President of ABX Air, Inc. from January 2000 to February 2008; the Chief Operating Officer of ABX Air, Inc. from January 2000 to August 2003; the Senior Vice President, Chief Operating Officer, of ABX Air, Inc. from January 1997 until January 2000; the Senior Vice President, Administration, of ABX Air, Inc. from 1991 to 1997; and Vice President, Administration, of ABX Air, Inc. from 1986 to 1991.
He joined ABX Air, Inc. in 1980 and has been a director of the Company since it became publicly traded in 2003.
50 words by Joe Hete
In the release announcing his departure as CEO of Air Transport Services Group Inc., Joe Hete received praise.
In the release announcing his departure as CEO, Joe Hete kept it short and said 50 words.
“Deliver against our strategic priorities”
Joe Hete stated: “It has been a privilege to serve as CEO again during this transitional period, and I look forward to moving into the Executive Chairman role and working closely with Mike and Jeff to help oversee ATSG’s ongoing success, drive value for all our stakeholders and deliver against our strategic priorities.”
The above text is an excerpt from the exechange report 24.2024 ($), publication date June 10, 2024.