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CEO of ATS to Retire

[ March 6, 2020   //   ]

Air Transport Services Group, Inc. recently announced that Joe Hete will retire as chief executive officer of the aircraft leasing and air transport services company, effective at ATSG’s next annual meeting of shareholders on May 7, 2020.

Hete, 65, is expected to remain a member of ATSG’s Board of Directors and to be elected Chairman of the Board upon his retirement. Randy Rademacher, currently Chairman of the Board, is to become the Board’s independent Lead Director.

Rich Corrado, 60, who was elected president of ATSG effective September 16, 2019, will become President and CEO and will be nominated for election to ATSG’s Board of Directors.

ABX Air was formed as a Wilmington, Ohio-based subsidiary of Airborne Express, Inc. in 1980, and served as the airline operations unit of the Seattle-based package-express company until ABX Air was spun off as a separate publicly traded airline company in connection with DHL’s acquisition of Airborne in August 2003.

Hete has served as president, CEO, and a director of ATSG since 2003, and for 20 years prior to that in management at ABX Air, Inc., including serving as its president.

“I’m confident that the people I have worked with at ATSG, and those who will follow, will continue to produce results that attract new customers and yield solid returns,” Hete said. “Rich Corrado’s creative energy and unique approaches to creating solutions-based packages of air transport services for our customers, the strong dedication to service and safety of our operating management teams, and the financial executives who deliver the capital we need to grow, will keep ATSG on the path to superior rewards for shareholders.”

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