Aircastle CEO Ron Wainshal takes medical leave

  • After almost twelve years on the job
  • Michael J. Inglese taking over in the interim

(management-change.com) — Stamford, Connecticut, January 05, 2017 — Ron Wainshal, chief executive of Aircastle, takes a medical leave of absence. It is an abrupt change. As announced by Aircastle Limited in a regulatory filing published on Thursday, January 05, 2017, Ron Wainshal leaves the post as Chief Executive Officer at the aircraft leasing company after almost twelve years on the job, effective January 06, 2017.

Wainshal’s duties are taken over in the interim by Michael J. Inglese, currently Chief Financial Officer at Aircastle Limited.

“Temporary medical leave of absence”

Aircastle said: “On January 4, 2017, the Board of Directors of Aircastle Limited … granted Ron Wainshal, Chief Executive Officer, a temporary medical leave of absence, effective January 6, 2017.”

Wainshal issued a message to colleagues, clients and shareholders

On January 5, 2017, Wainshal issued a message to colleagues, clients and shareholders informing them of his medical leave of absence.

The message reads as follows:

“Dear colleagues, clients and shareholders,

I learned recently that I will need to have heart surgery. While this is obviously a major procedure, it is not uncommon. Fortunately, I’ve been advised by my doctors that my situation is very fixable and that I can expect a full recovery.

I plan to have this surgery on Friday. During the time I am hospitalized, Aircastle’s board of directors has appointed our CFO, Mike Inglese, to also serve as Acting CEO. I will resume my responsibilities as soon as I am able. My plan is to gradually shift from part-time to full time work over the next several weeks as my recovery progresses. I discussed this approach with our board and they are fully supportive.

As you all know, we have an outstanding team so our company will continue moving forward during the short time that I will be away from work. I appreciate your support and good wishes.

/s/ Ron”

Push-out Score not determined

When the reason for the departure is health-related, a Push-out Score™ is not determined.

Read the full story in the management-change.com report 02.2017 ($).