ATLAS AIR REPLACES SHUYLER AS CEO
Financially troubled Atlas Air Worldwide Holdings said John Blue has replaced Richard Shuyler as chief executive officer on an interim basis.
Blue served as the president Atlas Air Inc. from the company's inception in 1992 through 1995, and who is a director of the company. Shuyler, who became CEO two years ago, also resigned as director of the company and its subsidiaries.
Atlas Air Worldwide Holdings also owns Polar Air Cargo.
Jeffrey Erickson, who has been serving as acting president of the holding company, has become its president and joined the board of directors.
The company also announced the immediate departure of Thomas Scott, senior vice president and general counsel; Fred deLeeuw, senior vice president of strategic planning; and Stanley Wraight, senior vice president of marketing and commercial strategy. John Dietrich, deputy general counsel, will become acting general counsel and others will assume the planning and marketing duties.
'This leadership change is an extremely difficult measure to take, but it is necessary at this time,' Erickson said in a statement.