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Company Announces Management Changes
November 23, 2018 | Source: FLYHT Aerospace Solutions Ltd.
CALGARY, Alberta, Nov. 23, 2018 (GLOBE NEWSWIRE) — FLYHT Aerospace Solutions Ltd. (TSX-V: FLY) (OTCQX: FLYLF) (the “Company” or “FLYHT”), today announced the appointment of Jeffrey Rex as the company’s VP of Sales and Marketing. The appointment is effective immediately and Rex takes over for David Perez who will leave FLYHT to pursue other opportunities.
“Jeff is an industry veteran and comes to us through our acquisition of the Panasonic Weather Solutions (PWS) assets from Panasonic Avionics,” said FLYHT CEO Thomas Schmutz. “We welcome Jeff to this new position as VP Sales and Marketing. His aerospace engineering and business development background, work within the commercial aviation industry, and experience at PWS are important to our go-forward strategies and plans. I am delighted that Jeff is stepping into this position and look forward to his contributions to FLYHT.”
As a director at Panasonic Avionics Corporation, with an aerospace engineering background, Rex led the company’s efforts in business and product development for advanced flight tracking, flight-deck communications and aviation weather solutions. Previously, at AirDat (acquired by Panasonic in early 2013), he was responsible for the company’s airline and aviation business, engineering, and product development. His responsibilities also included certification and deployment of weather sensing technology. Before AirDat, Rex held a VP role at L2 Aviation as well as senior program and account management roles at Aircraft Systems & Manufacturing and Dell.
“The products and services we commercialized at PWS and FLYHT’s product portfolio are both complimentary and a good fit for the air transport market,” says Rex. “The combined product portfolio offers many exciting opportunities for FLYHT to capture business and build value for our current and future airline customers. I am eager to work with this outstanding team and the industry-leading technology in the satcom, weather sensing and aircraft fleet health markets.”
As part of his compensation package for joining FLYHT in October 2018, Mr. Rex was granted 10,000 incentive stock options shares of the Corporation by the FLYHT Board of Directors priced at the closing on November 7, 2018, which expire on December 31, 2022, under the formal stock option plan approved at the Annual General Meeting held in May 2018. The options will be subject to the vesting of 1/3 per year on the anniversary of the grant and are subject to a four month hold period.
In addition to this reorganization, Steve Newell (VP Business Development) will also be leaving FLYHT to pursue other opportunities.