ATSG announces executive leadership changes
ATSG's leadership reshuffle includes Joe Hete as Executive Chairman, Mike Berger as CEO, and Jeffrey Dominick as President.
(L-R): Joe Hete, Executive Chairman; Mike Berger, Chief Executive Officer; Jeffrey Dominick, President.
Air Transport Services Group (ATSG) has announced its latest succession plan. Effective immediately, Joe Hete will transition from Chairman of the Board of Directors and Chief Executive Officer to Executive Chairman. Mike Berger, who has been serving as President, will step up as the new Chief Executive Officer and join the company's board. Simultaneously, Jeffrey Dominick, a current board member, will assume the position of President. ATSG is known for its medium wide-body freighter aircraft leasing and air operations, with a fleet of Boeing 767, Airbus freighters, and Airbus converted freighters.
"Today's announcement demonstrates our deep bench of talent at both the executive and board level. Last year, we were fortunate to have Joe step back into the CEO role at an important time for ATSG, and we are pleased he will continue to play a key role in guiding the company forward as Executive Chairman. We look forward to continuing to benefit from his extensive knowledge, distinguished leadership, and insights as we position ATSG for the future," stated Randy Rademacher, Lead Independent Director, in an official release.
With approximately 40 years of leadership experience in the global air freight industry, Hete has been ATSG's Chairman since May 2020. He served as CEO from November 2023 after previously holding the CEO role from October 2007 to May 2020. Additionally, he was ATSG's President from October 2007 to September 2019 and CEO of its subsidiary, ABX Air, Inc., from August 2003 to May 2020.
Following the leadership reshuffling announcement, Hete stated in the release, "It has been a privilege to serve as CEO again during this transitional period, and I look forward to moving into the Executive Chairman role and working closely with Mike and Jeff to help oversee ATSG's ongoing success, drive value for all our stakeholders, and deliver against our strategic priorities."
"We are excited to announce Mike as the company's next CEO. Since 2018, he has been an integral member of our management team, helping to shape the company's long-term strategic plan. ATSG will certainly benefit from his deep understanding of the global air freight industry and proven track record of success as a leader," added Rademacher.
Berger has been a vital member of the company management team since 2018. Berger's previous roles include President of Airborne Global Solutions and senior positions at DHL, TNT, and Dicom Transportation Group. He expressed his honour and eagerness to serve as the company's CEO, highlighting ATSG's momentum and resilient business model. Berger looks forward to collaborating with the management team to deliver top-notch transportation solutions globally.
"With our resilient business model and diverse customer base, ATSG has considerable momentum underway. I am eager to continue collaborating with our talented management team as we execute our strategy of delivering best-in-class transportation solutions for our air carriers, e-commerce leaders, government agencies and other stakeholders globally," said Berger.
"Additionally, we are delighted to welcome Jeff to the company's leadership team. Having served on our board for over seven years, Jeff brings his vast experience in our business and competitive position to his new role as President, as well as significant expertise in capital markets and investing in airline and aircraft-related transactions," said Rademacher.
He added, "With today's appointments, we are confident we have the right team in place to continue building on our strong foundation, solidifying our market-leading position, providing opportunities for our employees, and delivering meaningful value for our shareholders.".
Dominick, Managing Partner at AirWheel Investments, has joined ATSG as President after re-joining its board in 2022. Previously, he was Managing Director at BlackRock Inc. and Babson Capital Management, specialising in airline investments. He served on ATSG's board from 2008 to 2012 and worked in leverage finance at Deutsche Bank and J.P. Morgan Chase, bringing extensive experience in private equity and M&A.
