Scheeringa Named Permanent Flight Options CEO
Several executive changes at Flight Options have followed in the wake of Raytheon’s recent full acquisition of the Cleveland-based fractional provider. Chief marketing officer Cameron Gowan is out and company leader S. Michael Scheeringa is solidly in. Last Thursday, Scheeringa was named permanent CEO, after serving as the acting CEO since November 2004. Gowan has left, with his duties going to Jim Dauterman, the v-p of sales and marketing. In addition, Ray Bennett has been promoted from Southeast sales director to v-p of sales. Meanwhile, former Flight Options minority shareholder Brantley Capital said last week that it settled litigation with Raytheon over the value of its stake in the fractional provider. Under the agreement Brantley will receive only $900,000 for its original investment of $4.66 million in Flight Options, resulting in a net loss of $3.76 million.