HALIFAX,
NS, Sept. 14, 2022 /CNW/ - The Board of
Directors of Chorus Aviation Inc. ('Chorus' or the 'Company') (TSX:
CHR) announced today that Joseph (Joe)
Randell plans to retire as President and Chief Executive
Officer, in the first quarter of 2023, following the Company's
reporting of its 2022 year-end results. His retirement will
follow a 37-year leadership career in regional aviation. Upon Mr.
Randell's retirement, Colin Copp,
currently the Chief Operating Officer, Chorus and President, Chorus
Aviation Services, will be appointed President and Chief Executive
Officer of Chorus.
"I am delighted to announce Colin
Copp as our next CEO," said Paul
Rivett, Chair of the Chorus Board of Directors. Mr. Rivett
continued, "Chorus is fortunate to have a CEO successor in
Colin Copp, with such an in-depth
knowledge of the business and its culture. Colin has played
an instrumental role in Chorus' evolution, displaying a proven
ability to think strategically, to communicate his vision and to
successfully execute on the intended plans. The Board looks forward
to working with Colin and is confident in Colin's ability to guide
Chorus through the next exciting chapter of growth and
diversification."
Mr. Copp has been the Chief Operating Officer of Chorus and
President of Chorus Aviation Services, including Jazz Aviation and
Voyageur Aviation, since March 2019. Previously, he was the
President of Jazz Aviation. He has been with the Company and its
predecessors for over 30 years, with leadership experience in key
roles across operations, administration, and labour relations.
Colin holds a Masters' Degree in Business Administration, is
a Certified Negotiator and Chartered Mediator and holds a
designation from the Institute of Corporate Directors (ICD.D). He
is currently a Board member of the Air Transport Association of
Canada and the Aerospace
Industries Association of Canada.
"Colin has been an integral member of my leadership team for
almost two decades and has proven to be an exemplary leader with
demonstrated skills in handling complicated change management
issues and multi-stakeholder negotiations," said Joe Randell. "He has built strong relationships
across the aviation industry and elevated Jazz and Voyageur to new
levels of performance. I am confident Colin will adeptly and
successfully lead Chorus through the next transformative phase, and
I look forward to working closely with Colin, and the rest of the
executive team, as he transitions to the CEO role."
Mr. Randell's regional aviation career spans four decades. He
was the founding President of Air Nova, having started the
Atlantic Canada-based airline in
1986 with two aircraft serving five destinations. He will
retire having built a global company with approximately 5,000
employees, which includes the largest regional airline in
Canada, a market leading aircraft
asset management company and the world's largest aircraft lessor
solely focused on the regional segment. Mr. Randell has provided
stable leadership and successfully executed a long-term vision for
Chorus through the most challenging periods for the aviation
industry. In 2020, he was inducted into the Canadian Aviation
Hall of Fame in recognition of his significant contribution in
advancing Canadian aviation.
"Joe is widely recognized as the founder and builder of regional
aviation in Canada," said Mr.
Rivett. "He has been a true visionary, continuing to re-invent the
business through various cycles and trends in the industry.
Joe is equally respected for his ethics and integrity, which
has resulted in many strong industry and community relationships
and partnerships. His own personal values have shaped an
award-winning corporate culture. On behalf of the Board and
the employees of the Chorus companies, I thank Joe for his
long-standing dedication and commitment, including his support
through the upcoming transition."
About Chorus Aviation
Inc.
Chorus' vision is to deliver regional aviation to the world.
Headquartered in Halifax, Nova
Scotia, Chorus is an integrated provider of regional
aviation solutions, including asset management services. Its
principal subsidiaries are: Falko Regional Aircraft, the world's
largest asset manager and aircraft lessor focused solely on the
regional aircraft leasing segment; Jazz Aviation, the sole provider
of regional air services to Air Canada; and Voyageur Aviation, a
provider of specialty air charter, aircraft modification, and parts
provisioning services to regional aviation customers around the
world. Together, Chorus' subsidiaries provide support services that
encompass every stage of a regional aircraft's lifecycle,
including: aircraft acquisition and leasing; aircraft
refurbishment, engineering, modification, repurposing and
transition; contract flying; aircraft and component maintenance,
disassembly, and parts provisioning.
Chorus Class A Variable Voting Shares and Class B Voting Shares
trade on the Toronto Stock Exchange under the trading symbol 'CHR'.
Chorus 6.00% Senior Debentures due December 31, 2024, 5.75%
Senior Unsecured Debentures due December 31, 2024, 6.00%
Convertible Senior Unsecured Debentures due June 30, 2026, and
5.75% Senior Unsecured Debentures due June 30, 2027 trade
on the Toronto Stock Exchange under the trading symbols 'CHR.DB',
'CHR.DB.A', 'CHR.DB.B', and 'CHR.DB.C' respectively.
www.chorusaviation.com.
Forward-looking
information
This news release contains 'forward-looking information'.
Forward-looking information is identified by the use of terms and
phrases such as "anticipate", "believe", "could", "estimate",
"expect", "intend", "may", "plan", "predict", "potential",
"project", "will", "would", and similar terms and phrases,
including references to assumptions. Forward-looking information
involves known and unknown risks, uncertainties and other factors
that may cause actual results, performance or achievements to
differ materially from those indicated in the forward-looking
information. Actual results may differ materially from results
indicated in forward-looking information for a number of reasons,
including the factors identified in Chorus' public disclosure
record available at www.sedar.com and the risk factors
identified in Chorus' Annual Information Form dated February
16, 2022 (as updated by the risk factors identified in Chorus'
Management's Discussion and Analysis of Operations and Financial
Condition dated May 5, 2022). In particular, it is possible
that the executive changes described in this news release fail to
materialize on the terms currently contemplated or at all.
Statements containing forward-looking information represent Chorus'
expectations as of the date made (or as of the date they are
otherwise stated to be made) and are subject to change after such
date. Chorus disclaims any intention or obligation to update or
revise such statements to reflect new information, subsequent
events or otherwise, unless required by applicable securities
laws.
SOURCE Chorus Aviation Inc.