ATSG appoints former CEO Joe Hete as CEO, succeeding Rich Corrado

Air Transport Services Group, Inc.

Joe Hete, Chairman, appointed CEO effective Nov 6, 2023; replaces Rich Corrado whose CEO role ended Nov 3.
Hete previously served as ATSG CEO from 2003 to 2020; comp includes $750k salary, target bonus up to 115% of base.
Hete receives $1.2M RSU grant vesting after 12 months; eligible for LTIP awards at 300% of base salary starting 2024.
Corrado receives severance: 24 months salary continuation, prorated 2023 bonus, and equity vesting under retirement provisions.

item 5.02 item 7.01 item 9.01

Executive movements

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Departed

Richard F. Corrado

Chief Executive Officer

Air Transport Services Group, Inc.

Effective: 2023-11-03
Successor: Joseph C. Hete
Filed: November 7, 2023, 6:59 PM ET

Mr. Hete succeeds Richard F. Corrado whose position as Chief Executive Officer of the Company and its subsidiaries ended on November 3, 2023.

Appointed

Joseph C. Hete

Chief Executive Officer

Air Transport Services Group, Inc.

Effective: 2023-11-06
Filed: November 7, 2023, 6:59 PM ET

On November 6, 2023, the Board of Directors of the Company (the “Board”) appointed Joseph C. Hete, age 69, as Chief Executive Officer of the Company, effective immediately.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Richard F. Corrado departed as Chief Executive Officer at Air Transport Services Group, Inc..

Action: ended
Role: Chief Executive Officer

Exact text from the filing

Mr. Hete succeeds Richard F. Corrado whose position as Chief Executive Officer of the Company and its subsidiaries ended on November 3, 2023.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Joseph C. Hete was appointed as Chief Executive Officer at Air Transport Services Group, Inc..

Action: appointed
Role: Chief Executive Officer

Exact text from the filing

On November 6, 2023, the Board of Directors of the Company (the “Board”) appointed Joseph C. Hete, age 69, as Chief Executive Officer of the Company, effective immediately.

View on SEC.gov

Source: SEC EDGAR

accession 0000894081-23-000205

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