Englewood, Colorado, August 6, 2007—— The Board of Directors of Adam Aircraft announced today that John D. Wolf has been named company Chairman and CEO effective immediately. Wolf, along with President Duncan Koerbel, joined Adam Aircraft in February to help achieve FAA Type Certification of the A700 as well as to establish world-class manufacturing capabilities for the company.
The hiring of Wolf with his 39 years of experience in aerospace at Fairchild Aerospace, Teledesic Corporation, and McDonnell Douglas Corporation combined with Koerbel's 24 years of experience in certification and manufacturing were part of the transition initiated by the Board earlier this year. This new leadership change helps move the company from a start up to what will become one of the country's premier developer and manufacturer of Part 23 aircraft.
The Adam Aircraft Board offered their highest praise to founder Rick Adam for creating an innovative company with superior products. "Rick's entrepreneurial spirit and vision was the driving force that put Adam Aircraft on the map. We are indebted to his efforts over the past nine years as he grew the company from one employee to over 700 employees currently working at Adam Aircraft. We wish him the best as he pursues his next entrepreneurial adventure."
Wolf began his career in various engineering and project management positions on missiles and space projects in McDonnell Douglas Astronautics Company in St. Louis, Missouri. He was named Vice President, General Manager of McDonnell Douglas Electronics Company and then Executive Vice President of McDonnell Aircraft Company. Wolf became Sr. Vice President of Douglas Aircraft Company in 1989 and was responsible for program management of various commercial aircraft and launch of the MD-95, now the Boeing 717. Wolf served as Fairchild Dornier Corporation's Chief Operating Officer in Oberpfaffenhofen, Germany and was responsible for the development, launch and manufacturing of various commercial aircraft from 30-100 passengers. He has a BSEE, MSEE and Doctor of Engineering (Honoris Causa) from the University of Missouri, Rolla.
"Adam Aircraft is moving consistently toward a complete A700 Type Certificate in 2008," said Wolf. "I look forward to working with the Board, our investors, executive team and our employees to continue to significantly improve the span time, cost and quality of the production process as well as strengthening our relationship with our suppliers. We have an ideal all-composite platform for product line expansion. The company is going to move to high rate production of the A500, be ready to accelerate deliveries of Adam's substantial backlog of A700's, and provide comprehensive customer support to our customers."
About Adam Aircraft
Adam Aircraft is a designer and manufacturer of advanced aircraft for civil and government markets. The company uses computer-aided design, rapid prototyping, advanced manufacturing techniques, and carbon composite materials to produce high-performance aircraft at attractive prices. The A500 twin-engine piston aircraft has been Type Certified by the FAA, and the A700 AdamJet, which is currently undergoing flight test and development, will carry seven people and feature the best people-to-price performance ratio of any VLJ. Adam Aircraft headquarters are based at Centennial Airport (APA) in Englewood, Colorado, with additional facilities in Pueblo, Colorado, and Ogden, Utah. To learn more about the company, visit www.adamaircraft.com.
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