MD Helicopters, Inc. (MDHI) today announced several executive appointments to the Company’s leadership team to provide further support and development of product enhancements, customer support and increased operational efficiencies.
“Our recent management additions reflect our commitment to walking a progressive path of supporting our existing customers while pursuing innovative programs where MDHI products provide the best solution,” said Lynn Tilton, Chief Executive Officer and founder of Patriarch Partners, LLC, the private investment firm managing the funds that hold a controlling interest in MDHI. Tilton also noted that, in seeking the U.S. Army’s Light Utility Helicopter Program (LUH), MDHI has been actively preparing for the Source Selection Performance Demonstration and site visit.
The new additions to the MDHI management team include:
The company also announced the departure of interim Chief Executive Officer Robert Rene and Chief Operating Officer Randy Kesterson. Hokanson has assumed day-to-day CEO duties while the Company conducts a search for a permanent industry chief executive. As part of a broader management realignment, Vehlow and Langenhuizen will share operational duties formerly performed by the COO.
“We continue to make enormous progress at MDHI. We are aggressively focused on working with existing customers in all areas. In particular, we have improved spare part fill rates while reducing aircraft on the ground (AOG). The results speak for themselves. Our spare part order fill rate has increased to 80 percent while reducing AOG by almost 70 percent over the last three months,” said Tilton.
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, LLC
Patriarch Partners, LLC is an investment firm in New York and Charlotte, North Carolina which together with its affiliates, provides portfolio management services and serves as investment advisor to multiple leveraged funds and a private equity fund. Founded in 2000 by Lynn Tilton, Patriarch provides innovative financial solutions, strategic direction and operational expertise to companies undergoing periods of pervasive change. Patriarch currently monitors credit facilities in respect to approximately $5 billion dollars of assets under its management, including equity positions (majority and minority) in more than 65 companies. Lynn Tilton serves as Chairman of the Board of MDHI. Funds managed by Patriarch Partners own a majority and controlling interest in MDHI.
Source: MD Helicopters
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