- FLYHT Aerospace Solutions (TSXV:FLY) has appointed Barry Eccleston as Executive Chairman of the company’s board
- Previously, Barry worked at the CEO and President of Airbus America, which is part of the world’s second largest aerospace and defence company
- Alongside the news, the company has terminated the contract with its current CEO Thomas Schmutz
- Bill Tempany, former-CEO of FLYHT and current director of the company, will oversee operations as interim CEO, until a replacement can be found
- Before the market opens, FLYHT Aerospace Solutions (FLY) is trading at C$0.63 per share
FLYHT Aerospace Solutions (TSXV:FLY) has appointed Barry Eccleston as Executive Chairman of the company’s board.
Headquartered in Calgary, FLYHT Aerospace provides flight monitoring technology to the aviation industry, which allows real-time aircraft tracking and monitors health, fuel management, black box data and weather.
Previously, Barry worked at the CEO and President of Airbus America, which is part of the world second largest aerospace and defence company.
Barry will head the board and the company hopes to utilise his strong relationships with customers and suppliers in the commercial aviation and defence industries.
Alongside the news, the company has terminated the contract with its current CEO, Thomas Schmutz. FLYHT gave no reason for the termination and Thomas has so far released no public comment on the management change up.
It has been a difficult few months for FLHYT, as wells for the aviation industry in general. The ongoing COVID-19 pandemic and its ensuing travel bans have hit the aviation industry hard.
Consequently, the company’s share price has dropped almost 60 per cent since the onset of the virus and FLYHT has yet to reveal the impact to its first quarter.
However, in its full-year results, released last month, Thomas stated the company’s current aim was to protect its cash reserves during this incredibly challenging time.
Bill Tempany, former-CEO of FLYHT and current director of the company, will oversee operations and fill the role as interim CEO, until a replacement can be found.
Before the market opens, FLYHT Aerospace Solutions (FLY) is trading at C$0.63 per share.