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FLYHT Aerospace Solutions Ltd. (the Company or FLYHT) has announced that Richard Hayden has resigned his position as a member of the Company’s board, effective Aug. 19, 2014. Hayden will remain with the Company as director of strategic programs and will work with government and industry groups to ensure FLYHT stays in the forefront of discussions regarding global implementation of enhanced aircraft tracking and triggered data streaming, as well as leading efforts to secure several key programs.
Bill Tempany, CEO stated, “FLYHT has evolved over the eight years from an R&D Company to a growth business currently building momentum in the aviation industry and Dick has played an important part in shaping the company we have today. We look forward to Dick’s continued contribution, as it is an essential part of our business. We are confident that Dick’s drive, determination, tenacity and contacts will ensure the best outcome for FLYHT and our shareholders.”
Dick Hayden commented, “When I first was introduced to FLYHT in 2005, I immediately recognized the potential of the integrated aircraft-to-end-user system that FLYHT had conceived and was evolving. I was pleased to join the company in 2008 and be part of the team that has evolved AFIRS and UpTime to its current industry-leading state. I look forward to continuing to contribute to FLYHT’s growth.”
FLYHT Aerospace Solutions Ltd. is very pleased to announce that the board of directors of FLYHT has appointed Barry Eccleston as a director of the Company, effective August 19, 2014. Eccleston is president of Airbus Americas, Inc.
Eccleston currently oversees all efforts of Airbus in North America. He joined Airbus from Honeywell where he served as vice president in different departments and global regions with responsibility for the $1.4 billion business aviation, turboprop, regional fan and military engine businesses. Prior to that, he held increasingly senior positions with Rolls-Royce for 29-years, culminating as president and CEO Rolls-Royce Canada and president and CEO of International Aero Engines, in which Rolls-Royce was a major shareholder.
Tempany stated, “We are very excited to have a person of Barry’s caliber join our Board at this important time in FLYHT’s evolution. The Company is entering a growth phase, and we are confident his contribution will be significant to our success in the coming years. We have worked for years to develop technologies to help the aviation industry improve its financial performance and – with the guidance of our new board members – we hope to increase the adoption rate of our technologies.”
Eccleston commented, “The aviation industry needs to embrace beneficial new technologies and I believe that FLYHT’s Automated Flight Information Reporting System (“AFIRS”) and related products are at the forefront of this movement. I have been impressed with FLYHT’s technology since I first saw it and I am convinced that AFIRS will help all facets of aviation by improving performance, enhancing efficiency and allowing an already extremely safe industry, to become even safer. I joined the board to help FLYHT continue to drive utilization of its industry leading technologies and to give back to an industry that has been good to me throughout my career.”
Eccleston holds a bachelor’s degree in aeronautical engineering from Loughborough University and completed the International Executive program at the Institute of Management Development, Switzerland. Barry is a private pilot, he has served as chairman of the Washington, D.C. branch of the RAeS, and is a past member of the Flight Safety Foundation Board of Governors. He is currently president of The Wings Club, and was a member of NBAA’s Associate Member Advisory Council, and IS a member of the British-American Business Association Board of Directors.
As part of his appointment to FLYHT’s board of directors Eccleston will be granted incentive stock options of the Corporation for a total of 75,000 common shares of the Corporation at a price of $0.40 per share for a period of three years, under the formal stock option plan approved at the Annual General Meeting held in June 2014, subject to regulatory approval. A maximum of 10 per cent of the issued shares are reserved for issuance for the Corporation’s Stock Option Policy. The options vest immediately and are subject to a four month hold period.
This director appointment is made subject to the final approval of the TSX Venture Exchange.
FLYHT Aerospace Solutions Ltd. has also announced that the board of directors of FLYHT has appointed John Belcher as a director of the Company, effective Aug. 19, 2014. Belcher was formerly chairman and chief executive officer of ARINC Incorporated (“ARINC”). He joined ARINC in 1997 and grew it from a $200M business to a billion dollar global company with services in over 150 counties and orchestrated its sale twice during his tenure. Mr. Belcher currently serves on several other boards around the world and is a leading authority in aviation and air transport.
Belcher is deeply involved in his industry and community and is a very welcome addition to FLYHT’s board of directors as the Company expands globally in the aviation industry. Belcher’s prior experience includes positions as president and CEO, Hughes Aircraft of Canada, Ltd.; vice president Hughes Aircraft Company; president and CEO, Thompson-Hickling Aviation; senior vice president, SPAR/PRIOR Data Sciences; executive director, Transport Canada; and director general, Supply and Services Canada.
Tempany stated, “We were delighted when John accepted a position on our board to help steer the Company through what we expect to be a strong growth phase. John’s success with ARINC, his Canadian roots and prior work with Transport Canada and as CEO of Hughes Aircraft of Canada gives him a unique understanding of the challenges businesses like ours face in managing commercial goals in a very rigid regulatory environment. The contacts and knowledge John will contribute to our board of directors will bring invaluable insight and experience that management and our employees will benefit from and help us further drive the success of our growing business collectively.”
Belcher stated, “Technology has been my passion throughout my career and when I was offered a position on the board of FLYHT, it was its industry leading technology that piqued my interest. Aviation needs to move faster in the adoption of new technologies and I see FLYHT as a front runner in that change. I am looking forward to an exciting adventure with FLYHT as its technologies are rolled out globally. “
John presently serves on seven other boards including LandMark Aviation, Signalhorn, NanoVapor, Anne Arundel Health System, World Trade Center Institute, Governor’s Work Force Investment Board, and Cyber Reliant.
He has also received many business leadership awards including the Canadian National Transportation Award.
As part of his appointment to FLYHT’s board of directors Mr. Belcher will be granted incentive stock options of the Corporation for a total of 75,000 common shares of the Corporation at a price of $0.40 per share for a period of three years, under the formal stock option plan approved at the Annual General Meeting held in June 2014, subject to regulatory approval. A maximum of 10% of the issued shares are reserved for issuance for the Corporation’s Stock Option Policy. The options vest immediately and are subject to a four month hold period.
This director appointment is made subject to the final approval of the TSX Venture Exchange.
