Hawker Beechcraft Corporation Chairman and CEO, Jim Schuster, announced yesterday that he has notified the HBC board of his plan to retire from the company.
“Earlier this month, I began discussing my retirement plans with our board. After nearly eight years as CEO, I feel the time is right,” Schuster said. Schuster will lead HBC until the company identifies a successor and will remain a shareholder after he leaves the company.
“I will continue to lead the company during its search for a new CEO – until then, I am fully committed to achieving our fourth quarter financial objectives, finalizing our 2009 business plan and delivering on our 2009 commitments,” Schuster said. “We still have a lot of work ahead of us, but I believe that we have the most talented team in the industry to accomplish our goals and grow our business.”Schuster’s nearly eight year tenure as CEO is among the longest in the aviation industry.
“We thank Jim for his dedicated service and contribution. He is a true leader that has positioned Hawker Beechcraft atop general aviation,” said Sanjeev Mehra, chairman of the board of Hawker Beechcraft, Inc. “Under his leadership, Hawker Beechcraft not only became the world’s largest independent aircraft manufacturer, but also solidified its future in general aviation with an exciting product line and world class services.”