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| Another Change in Mooney Leadership | Oct '06 |
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| By Karen Di Piazza |
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In late September, Mooney Airplane Co. announced its third CEO within a 36-month period. Dennis E. Ferguson was appointed CEO after Gretchen L. Jahn's resignation. She resigned as CEO and president, and as a member of the board of directors of its parent company, Mooney Aerospace Group Ltd., effective Oct. 1.
Until 2003, Ferguson worked with SCORE, a nonprofit organization that offers counseling to small business owners through the Small Business Administration.
From 1994 to 2003, he served as president of AirShow Inc., an avionics manufacturer that provides integrated information systems and services for business jets and commercial airlines. During that period, from 1998 to 2002, he also served as VP at Dynatech/Acterna Corp.
Ferguson, a graduate from the U.S. Air Force Academy in Colorado Springs, Colo., earned a BS in engineering science in 1967. In 1978, he earned his MS in systems management from the University of Southern California in Los Angeles.
Mooney Chairman Steve Karol said Ferguson has a history of running successful companies.
"Dennis brings a strong background in the aviation industry and experience in transitioning a small, entrepreneurial company into a significant force in the marketplace," Karol said.
Jahn became CEO of Mooney in November 2004, following J. Nelson Happy's departure, after production and employee count sunk to the bottom. Through her leadership, aircraft deliveries in 2005 more than doubled, to 85—something that hadn't happened for the company in a decade. In July 2005, she became president of Mooney Aerospace Group.
Perhaps Mooney's seemingly insurmountable debt, incurred long before Jahn arrived, prompted her to resign when she did. Speaking after her resignation, Jahn said she's ready to move on.
"My passion is to get companies up and running," she said. "I've successfully achieved that goal at Mooney."
When asked if she would remain in the aviation industry, Jahn replied that she couldn't yet say. She did reveal that her next venture wouldn't be in Kerrville, Texas; she plans to move away from the area.
"In honoring my commitment, I can't announce my next gig," she said. "Timing is everything. But I'm very excited about my next move."
Jahn will attend this year's NBAA convention in Orlando, Fla., as her involvement with Mooney is paramount to the company's successes in the certification of the Acclaim, a 280-hp turbo-normalized, single-engine piston airplane. She's been working with the Federal Aviation Administration on certification of the Acclaim, and has agreed to see the company through the certification process, as a paid consultant.
Karol said Ferguson has experience in "lean manufacturing" principles. Jahn implemented those principles nearly two years ago, after discovering the plant was in chaos.
If Ferguson continues to increase aircraft production, and Mooney's parent company can convince stockholders and lenders that the company can make a lasting comeback, maybe it will survive.
For more information on Mooney, visit www.mooney.com.
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