LONG
BEACH, Calif., May 22, 2024
/PRNewswire/ -- The Majority-in-Interest owners of
Aeroplex/Aerolease Group (the Aerolease Companies) announced today
that they have voted to remove Curt
Castagna as CEO/Managing Member and have begun a nationwide
search for a new executive to lead the Aerolease Companies.
ADK Executive Search, which was retained by the Aerolease
Companies to conduct a nationwide search for a new leader, assigned
Barry Rondinella, who has a strong
background in aviation leadership, to serve as interim CEO until a
permanent replacement is found. Tenants can expect the same
exceptional service they have received for generations from the
family-owned business.
The Aerolease Companies had hoped for a peaceful separation and
told Mr. Castagna they would work on mutually beneficial terms.
That has not occurred. As a result, on May 17, 2024, the Aerolease Companies filed a
lawsuit in the Superior Court of Los
Angeles County against Mr. Castagna alleging claims for
Conversion, Breach of Fiduciary Duty, Unfair Competition and
Violation of the Comprehensive Computer Data and Access
Fraud Act. The lawsuit alleges that Mr.
Castagna formed a competing entity called Aeroplex Group Partners
LLC ("AGP"), a consulting company that also manages airport hangars
throughout Southern California,
and used the Aerolease Companies' resources and employees to fund
this venture and siphon business away from the Aerolease Companies.
The lawsuit also alleges that following his
termination Mr. Castagna took steps to interfere with the Aerolease
Companies' operations by refusing to provide needed access to the
companies' IT systems, removing backup computer server hard drives,
locking the owners of the Aerolease Companies out of their offices,
instructing employees to go home, refusing to provide key cards,
and misappropriating company equipment including his
company-provided car, computer, and mobile phone.
"The Aerolease companies' owners had hoped for a peaceful
transition, but instead Mr. Castagna left the members with no
option but to pursue litigation," said Stuart Pfeifer, spokesman for the Aerolease
Companies. "Aerolease is extremely confident in its interim
leadership and Aerolease tenants should expect the same exceptional
service that this family-owned business has provided for
generations."
About Aeroplex/Aerolease Group
For almost 50 years, the Aerolease Companies have owned,
operated, leased, and managed hangar facilities and other property
at the Van Nuys and Long Beach airports in Los Angeles County. Today, Aerolease proudly
services some of the largest aviation companies in the world and
carefully safeguards hundreds of millions of dollars in planes and
other property. Aerolease has a pristine reputation for adhering to
Airport rules and regulations, and manages airport hangars for
fortune 500 companies.
Media Contact:
Stuart Pfeifer
LAG Strategy
stuart@lagstrategy.com
(310) 415-6955
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SOURCE Aeroplex/Aerolease Group