StandardAero Leader Change Signals New Strategy
StandardAero’s August 21 announcement that Rob Mionis has assumed the job of president and CEO of the turbine engine overhaul and business aircraft maintenance firm signaled a change in direction for the Winnipeg, Canada-based company. Mionis, CEO of parent company DAE Engineering, had planned to build the StandardAero division by acquiring more companies, but the current economic slowdown has made that strategy more difficult to pursue, and the new strategy is to expand StandardAero from within. “Rob’s team was set up to buy a whole bunch of StandardAeros and knit them all together,” said Paul Soubry, who was president and CEO until Mionis took over, “and of course that’s not in the cards right now, so there’s no need for two leadership teams.” Soubry, who has worked at StandardAero for 24 years, is now a “strategic advisor” to StandardAero, and he will help the company transition to the new leadership. “I’m going to make sure that any of the things that I was involved with, any deals, any initiatives, any strategy stuff that needs to get completed, I’m going to get that completed,” he said.