BURLINGAME, Calif.,
May 5, 2016 /PRNewswire/ --
AeroCentury Corp. (NYSE MKT: ACY), an independent aircraft leasing
company, today announced that its Board of Directors has named one
of its directors, Evan Wallach, to
the position of Chairman of the Board.
Evan Wallach, who has served as
an independent director for nineteen years, was re-elected for a
three-year term to the Board of Directors at the annual meeting of
stockholders held today. Following the stockholder meeting,
the Board then appointed Mr. Wallach to serve as Chairman of the
Board, filling the vacancy following the passing away of
Neal Crispin earlier this year.
"I am honored to be named as Chairman of AeroCentury and look
forward to continue working with my fellow board members and the
management team, as the Company continues its search for a new
Chief Executive Officer and seeks to build on the legacy of success
left by its founder, Neal Crispin,"
said Wallach.
"Evan brings a depth of experience in both the finance and
aviation industries and has been a valuable member of our Board
since the Company's founding. We are very fortunate to have
him as our Chairman," said Toni
Perazzo, Acting President and Chief Financial Officer.
Wallach currently is President and Chief Executive Officer of
Global Airfinance Services, an aviation consulting business he
founded in 1998 and returned to in June
2012.
Wallach has specialized in aircraft and airline financing for
over thirty years, having held managing director positions at
Jefferies & Company, Inc., Guggenheim Capital Markets, Piper
Jaffray LLC and senior level positions with The CIT Group, Bankers
Trust Company, Kendall Capital Partners, Drexel Burnham Lambert, and American Express
Aircraft Leasing.
He received a Bachelor's Degree in Political Science from
State University of New York at
Stony Brook and a Master's Degree
in Business Administration from the University
of Michigan.
At the stockholder meeting today during which Mr. Wallach was
re-elected, the stockholders also voted in favor of all proposals
as recommended by the Company's Board of Directors, including
approval, in an advisory vote, of the Company's executive
compensation and ratification of the appointment of BDO
USA, LLP as the Company's
independent auditors.
AeroCentury is an aircraft operating lessor and finance company
specializing in leasing regional aircraft and engines utilizing
triple net leases. The Company's aircraft and engines are leased to
regional airlines and commercial users worldwide.
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/aerocentury-corp-names-evan-wallach-as-chairman-of-the-board-stockholders-approve-proposals-in-accordance-with-board-recommendations-at-annual-meeting-300264160.html
SOURCE AeroCentury Corp.