WILMINGTON, Ohio--Air Transport Services Group, Inc. (NASDAQ: ATSG), the global leader in medium wide-body freighter aircraft leasing, air operations, and support services, today announced that its Board of Directors has appointed Joe Hete, current Chairman of the Board and the Company’s former longtime Chief Executive Officer, as ATSG’s CEO, effective immediately. Hete succeeds Rich Corrado, who is leaving his role as CEO of the Company, effective immediately. Hete will continue as Chairman of the Board.
Hete is a well-known, highly respected pioneer in the global air freight industry and brings approximately 40 years of leadership experience in the space. He previously served as CEO of ATSG from 2003 to 2020, and has been a member of ATSG’s Board since 2003. Prior to that, he held various senior management roles at ABX Air, Inc.
Randy Rademacher, Lead Independent Director, said, “After careful consideration by the Board, we determined that Joe is the right leader to accelerate our strategy and capitalize on the long-term opportunities ahead. As Chairman for the past three years and having previously served as CEO of ATSG for 17 years, Joe has extensive knowledge of our business and its competitive position within the industry. He is uniquely qualified to step into this role to optimize our current performance and position ATSG for the future. Under Joe’s leadership, we believe the Company will be well-positioned to continue building on its strong foundation, solidifying its market-leading position, and working to deliver meaningful value for our shareholders.”
Hete said, “ATSG has always proven itself to be a very resilient business, and I am both honored and energized to be returning to the role of CEO. With our strong balance sheet, differentiated business model, diverse customer base and unique competitive position, we believe we are poised to create value for our stakeholders as the world’s premier freighter lessor. I look forward to working closely with our talented management team to drive ATSG’s strategic priorities forward and continue delivering best-in-class transportation solutions for our air carriers, e-commerce leaders, government agencies and other stakeholders globally.”
Rademacher continued, “On behalf of the entire Board, I thank Rich for his contributions and for leading the Company through an incredibly dynamic time in our industry. We wish him the best in his future endeavors.”