Experienced Transport Executive Ed Koharik
Elected COO
Air Transport Services Group, Inc. (NASDAQ:ATSG) today announced
that its Board of Directors has elected Richard F. Corrado, 59,
currently chief operating officer, as president of the aircraft
leasing and air transport services company, effective September 16,
2019.
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Richard F. Corrado, elected president of
Air Transport Services Group, Inc. (NASDAQ:ATSG), effective
September 16, 2019. (Photo: Business Wire)
As president, Corrado will be responsible for goal-setting and
oversight of all ATSG businesses. Joseph C. Hete remains chief
executive officer and a director of ATSG.
The Board also elected Edward J. Koharik III, 49, as chief
operating officer of ATSG, succeeding Corrado, effective September
16, 2019. He was most recently senior vice president of
FlightSafety International in New York City. Earlier, he was a
director at the U.S. Transportation Command, working with more than
400 commercial providers of transportation services to supplement
the federal government’s own transport resources. As COO, Koharik
will take over the day-to-day operations management for the
majority of the ATSG companies.
Randy Rademacher, board chairman of ATSG, said that Corrado’s
appointment as president represents a key step in management
succession at ATSG, where Joseph Hete has served as president,
chief executive officer and a director since the formation of ATSG
as a public company in 2003. Hete will focus primarily on ATSG’s
strategic planning and management team development as chief
executive officer.
“Through his creative ideas and strong performance in a wide
range of assignments at ATSG and elsewhere, Rich Corrado has proven
himself ready to assume more leadership responsibility,” Rademacher
said. “I know I speak for the Board of Directors in expressing
confidence that Rich’s strengths in marketing, operations, and
business development, backed by Ed Koharik’s operations experience
and the continuing contributions and experience of the rest of our
outstanding management team, will launch ATSG on an exciting new
phase of sustained success, providing solid returns for our
shareholders, exemplary service for our customers, and growth
opportunities for our employees.”
Since 2010, Corrado has helped enhance and extend ATSG’s
innovative business model, now an industry standard known as
“A+CMI.” This innovation gives customers seeking air transport
services the option to separate the Aircraft lease, “A,” from the
Crew, Maintenance, Insurance “CMI” aircraft operating support that
ATSG offers as part of complete turnkey solutions to customers. He
was among the first in the industry to recognize and plan for the
exceptional growth in e-commerce transactions, and the opportunity
to place ATSG’s midsize, medium-range Boeing 767 freighter aircraft
at the center of new time-definite express networks that e-commerce
merchants require.
Ed Koharik comes to ATSG after a decorated military career, key
leadership experience with the U.S. Transportation Command, ATSG’s
largest customer, and operational and strategy roles with
FlightSafety. He graduated from the United States Air Force Academy
with a Bachelor of Science degree in Aeronautical Engineering. He
also holds a Master’s degree in Computer Resources and Information
Management from Webster University and a Master’s in Military
Operational Art and Science from Air University at Maxwell Air
Force Base in Alabama.
Corrado was elected chief operating officer of ATSG in September
2017 after seven years as chief commercial officer and president of
ATSG’s Cargo Aircraft Management, Inc. (CAM) subsidiary. He is a
frequent featured speaker at air cargo and air finance industry
conferences, and has created a strong network of ATSG sales and
marketing resources around the world.
Hete said that over the 20 years he has known and worked with
Rich Corrado, he has been impressed with Corrado’s ability to
anticipate market trends and shape ATSG’s response. “Rich’s fresh
ideas and unique approaches to creating solutions-based packages of
air transport services around our core fleet of Boeing 767
converted freighters have helped us capture the substantial share
of the regional express, e-commerce transport business we have
today,” Hete said.
Prior to joining ATSG, Corrado was chief operating officer of
AFMS Logistics Management, and president of Transform Consulting
Group. He also held other key senior marketing leadership positions
in the air express industry, serving as executive vice president of
air services for DHL Express, and senior vice president of
marketing for Airborne Express. He holds a bachelor’s degree in
economics from Harvard University, and an M.B.A. from Boston
College.
Corrado said he looks forward to working with Joe Hete and the
rest of the ATSG management team to extend the company’s unmatched
record of growth, cash-flow generation and strong shareholder
returns.
"Listening to customers, building solutions that meet their
needs, and executing those solutions effectively, are no less
important in our industry than in any other,” Corrado said. “No
other company in the world can compete with our bundle of services
for midsize freighters, including leasing, air express operations,
heavy maintenance, freighter conversions, and logistics services. I
am eager to take on a new role as president to help leverage our
exceptional assets and lead our dedicated employees to deliver even
greater results for shareholders."
About ATSG
ATSG is a leading provider of aircraft leasing and air cargo
transportation and related services to domestic and foreign air
carriers and other companies that outsource their air cargo lift
requirements. ATSG, through its leasing and airline subsidiaries,
is the world's largest owner and operator of converted Boeing 767
freighter aircraft. Through its principal subsidiaries, including
three airlines with separate and distinct U.S. FAA Part 121 Air
Carrier certificates, ATSG provides aircraft leasing, air cargo
lift, passenger ACMI and charter services, aircraft maintenance
services and airport ground services. ATSG's subsidiaries include
ABX Air, Inc.; Airborne Global Solutions, Inc.; Airborne
Maintenance and Engineering Services, Inc., including its
subsidiary, Pemco World Air Services, Inc.; Air Transport
International, Inc.; Cargo Aircraft Management, Inc.; and Omni Air
International, LLC. For more information, please see
www.atsginc.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20190909005899/en/
Joe Payne, Chief Legal Officer & Secretary 937-366-2686
Air Transport Services (NASDAQ:ATSG)
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