Wednesday, 6 August 2008

AeroMechanical’s Change At The Top – What’s It Mean!

AeroMechanical Services Ltd., (TSX:V-AMA)

Basic Shares: 81 million

Fully Diluted: 93 million

On August 5th the company issued a news release saying that Dick Hayden had taken over the position of President from company founder Darryl Jacobs.

Mr. Jacobs will be staying on as a director and an advisor to the company and has been offered a senior role in product research for AMA.

Those who have been following the AMA story will remember that we’ve written about Dick Hayden several times in past commentaries due to the strong relationship that AeroMechanical has with Meggitt. Mr. Hayden was a VP with Meggitt until very recently, joining AMA as Director of Business Aviation.

He has been very focused over the past couple of years on the business jet market, which is the fastest growing segment of the airline industry in spite of what’s happening with the rest of the commercial side of the business.

In speaking with AMA management after the announcement, it was made clear to us that what Mr. Hayden has been working on over the past many months is a key growth area. It hopefully will bear fruit in the near future considering the amount of effort that has gone into nurturing potential new and large customers for AMA.

Mr. Hayden has a significant amount of experience, which is best reviewed by reading the news release, click here.