New Chief Takes Over at Adam Aircraft

AINalerts » August 7, 2007
August 7, 2007, 12:24 PM

VLJ and piston-twin manufacturer Adam Aircraft experienced a shift at the top yesterday, as former Fairchild Aerospace COO and McDonnell Douglas executive v-p John Wolf replaced founder Rick Adam as chairman and CEO. Wolf joined Adam Aircraft in February and has since served on the board as a liaison. Duncan Koerbel, who also joined the company in February, remains president. According to company spokeswoman Shelly Simi, the transition has been part of Rick Adam’s plan for some time. “Rick chose to step down,” Simi said. “This is just part of the transition that had begun back in February. Especially with the company moving from a development company to a production company, it’s the natural transition you go through.” Rick Adam will continue to hold four board seats, as well as remain a large investor in the company. The Englewood, Colo.-based manufacturer has experienced growing pains with certifying its first jet, the twin-engine A700. Full certification is now expected by the end of the year, according to the company. Adam also produces the A500 piston-twin airplane, upon which the A700 is based.

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