Flight International online news 10:00GMT: Troubled commercial and military helicopter manufacturer MD Helicopters has appointed an interim chief executive officer and a new chief operating officer.
Robert W. René has been named as the interim CEO while Randy Kesterson is MDHI’s COO.
The appointments follow MDHI’s acquisition by New York financial firm Patriarch Partners in July.
Prior to Patriarch’s rescue package, the Netherlands-based manufacturer had been experiencing financial difficulties and had seen a number of its contracts cancelled.
MDHI says it now has adequate working capital to continue production, fulfil existing orders and improve customer support.
In a statement, René, who has more than 20 years of operating experience in a variety of technology and manufacturing fields, says: “The recent long-term commitment
to the business by our majority shareholder, Patriarch, when combined with an industry-leading product, foretells tremendous upside potential for the company.
“We have, in this very short time, already seen a significant increase in demand for our spare parts and products.”
ROSS BENTLEY/LONDON
Source: Flight International
