ANN has learned that J. Nelson Happy has resigned from the board of Mooney Aircraft.

A public statement explains that, "At a meeting of the Board of Directors of Mooney Aerospace Group, Ltd. (the 'Company'), held on July 24, 2005, J. Nelson Happy resigned as the Chief Financial Officer, President, Secretary and Vice Chairman of the Board of Directors of the Company. Subsequent to the foregoing resignation, Gretchen Jahn was appointed as the Chief Executive Officer, President and a member of the Board of Directors of the Company and Barry Hodkin was appointed as the Chief Financial Officer and Secretary of the Company.

From March 2005 to the present, Mr. Hodkin has been the Chief Financial Officer of Mooney Airplane Company, Inc., a wholly owned subsidiary of the Company. From March 2004 to March 2005, Mr. Hodkin served as the Chief Operating Officer of Mooney Airplane Company, Inc. In addition, from October 2002 to March 2004, Mr. Hodkin was the President and Chief Financial Officer of Strojkov Engineering. From March 2001 to October 2002, Mr. Hodkin was the Executive Vice President and Chief Financial Officer of Superstav, a construction equipment manufacturer. From February 2000 to March 2001, Mr. Hodkin was the Managing Director and General Manager of Fermec International, a construction equipment manufacturer. Mr. Hodkin received a B.A. (with honors) in accounting and financial control from Lancaster University, Lancaster, England in 1977.

From October 2004 to the present, Ms. Jahn has been the Chief Executive Officer of Mooney Airplane Company, Inc., a wholly owned subsidiary of the Company. From October 2003 to October 2004, Ms. Jahn served as the President and as a member of the Board of Directors of Knotridge Corporation. In August 1995, Ms. Jahn founded Aegis Analytical Corporation, from August 1995 to October 2003, Ms. Jahn served as the President, Executive Vice President and Chief Executive Officer and from August 1995 to March 2004, Ms. Jahn served as a member of the Board of Directors. Ms. Jahn has previously been on the Board of Directors of Air Race Classic, Inc. Ms. Jahn received a B.A. in psychology (cum laude) from Lawrence University in 1973. Ms. Jahn received a M.A. in experimental psychology from the University of Colorado in 1975."

FMI: www.mooney.com