MD Helicopters, Inc. (MDHI) has announced recent management changes. Randy Walti has been named General Counsel of the company, John Calabrese has been named Chief Financial Officer (interim), and Giles Wright has been named Vice President, Supply Chain.Lynn Tilton continues to serve as the Chief Executive Officer along with Ted Gee as Chief Operating Officer. No longer serving the company are former President, Chuck Vehlow, Chief Financial Officer,Peter Hokanson,andhead of sales, David Oglesbee.
Tilton will continue in her current capacity as CEO and will provide direct guidance to the senior executive team. In addition, the Quality team will continue its independent reporting to Tilton. Gee will oversee day-to-day operating activities at MDHI, including allproduction,development,engineering, and supply chain activities.
“No worthwhile journey is short or absent its obstacles. We are fortunate to have found talented executives with the experience and commitment to drive specific changes that are necessaryfor oursuccess. These changes in management are a catalyst that will accelerate ourprogress at MDHIwith a focus on the basics of people and process,” said Lynn Tilton, CEO. “We have taken major strides toward becoming the premier provider of light-duty helicopters, and now we will accelerate our pace without changing focus or direction. Our commitment and devotion to our operators has been and will remain our overriding priority.”
Randy Walti comes to MDHI fromaerospace and nuclear industrycompany General Atomics, where heled the legal, contracts, internal audit, and compliance functions. Randy said “theMDHIteam’s commitment to buildinga world class organization isunmistakable.” Prior toGeneral Atomics, Walti held seniorlegal positions atCAD/CAM software provider, Unigraphics Solutions, andinformation technologyoutsourcing leader, Electronic Data Systems Corporation. Walti reports directly to Tilton.
John Calabrese serves as MDHI’s Chief Financial Officer (interim). Calabrese is a Managing Director at TRG and is expected to serve in the MDHI finance capacity while the Company continues its search for a new CFO.
Giles Wright has joined the company as Vice President, Supply Chain and will report to Gee. Wright’s experience includes numerous years in the industry working with companies such as General Dynamics, EAD NA, Eaton, Boeing and others.
“In addition to these new members of the senior management team, in recent months MDHI has expanded its sales team and added several talented mid-level managers with specific areas of expertise. We expect to continue adding selected talent at all three MDHI campuses Mesa, Dallas and Monterrey as we move forward to transform our vision for MDHI into reality,” commented Tilton. “Our efforts have been validated in the most recent Pro Pilot survey, where MD’s customer satisfaction rating increased by an unprecedented 0.92 points or a 17.8 % increase. In addition, during 2006, MD reduced AOGs by more than 95%.”
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About MD Helicopters:
MD Helicopters is a leading manufacturer of commercial and military helicopters. The MDHI family of rotorcraft is world renowned for their value, versatility and performance. The MD Helicopters family includes the twin-engine MD Explorer, and single engine versions of the MD 600N, MD 520N, MD 500E and MD 530F. The NOTAR system for anti-torque control is the exclusive property of MD Helicopters. The Company is based in Mesa, Arizona.
About Patriarch Partners
Patriarch Partners, LLC is a private equity and investment firm in New York, North Carolina and Texas. Patriarch provides innovative financial solutions, strategic direction and operational expertise to companies undergoing periods of pervasive change. Funds managed by Patriarch have in excess of $5 billion and include majority and minority ownership positions in more than 67 companies.
