Sokol Wastes No Time in Restructuring NetJets
NetJets’ new chairman and acting CEO, David Sokol, has barely been at the helm of the fractional provider a week, but he isn’t wasting any time in restructuring the company that lost nearly $350 million in the first half of this year. An e-mail sent to employees earlier this week maps out Sokol’s new management team structure, with now-former Executive Jet Management (EJM) president Ben Murray promoted to president and COO of NetJets Inc., making him Sokol’s right-hand man. Also promoted was Bill Noe, the now-former NetJets International (NJI) president, to NetJets North America president, where he oversees EJM, NJI, NetJets Aviation (NJA) and NetJets Large Aircraft (NJLA). Jim Christiansen remains as president of NJA but now reports to Noe; previously, Christiansen reported directly to company founder and former NetJets chairman and CEO Richard Santulli. Mark Booth and Bill Kelly will continue to head NetJets’ European and Middle Eastern divisions, respectively. Meanwhile, a knowledgeable source told AIN that Sokol is moving forward with plans to consolidate NJA, NJI and NJLA operations at NJA’s facility in Columbus, Ohio. NJI’s current operations center is in Okatie, S.C.; NJLA has two ops facilities in Connecticut. According to the source, this consolidation will result in layoffs. However, a NetJets spokesperson told AIN that NJI’s ops center will stay in Okatie and said NJLA is “already in Ohio.” The spokesperson also confirmed that NetJets’ headquarters will be moving from Woodbridge, N.J., to Columbus.