World Air names Towe CFO, receives Nasdaq hearing date
Peachtree City, Ga.-based World Air Holdings, parent company of charter cargo and passenger airline World Airways, has appointed Michael W. Towe as its chief financial officer, with immediate effect.
Towe was the chief executive officer of Duluth, Ga.-based Roper Industries.
At the same time, the Nasdaq Listing Qualifications Panel has set a hearing date of May 11 for the continued listing of World Air’s common stock on the exchange. The company has delayed filing its 2005 annual report with the Securities and Exchange Commission, which was due March 16.
The stock exchange has already given World Air three extensions following similar delays to quarterly results, which the company attributed to the acquisition of passenger carrier North American Airlines last April.
World Air also owns insurance subsidiary World Risk Solutions.