Wed, Mar 16, 2011
Resignation Effective March 24
Philip Trenary, President and CEO of Pinnacle Airlines Corp.has
decided to resign his position effective March 24 to pursue other
interests outside the company. Pinnacle Board of Directors Chairman
Donald J. Breeding will assume the role of Interim CEO until a
search can commence and a permanent replacement is found.
With the full support of the Board, Phil plans to stay on as a
consultant to Pinnacle Airlines Corp. for one year after his
resignation and assist in the seamless transition to a new CEO.
"Phil has presided over a period of significant growth for Pinnacle
and built a strong foundation anchored by a spirited group of
dedicated employees. He has positioned the airline to realize
great success. We wish Phil the very best as he moves forward
to other challenging ventures," Breeding said.
"I'll always cherish my time and friendships at Pinnacle. It has
been without a doubt the most meaningful chapter in my career,"
said Trenary. "Pinnacle Airlines Corp. is positioned well to own
our future."
Under Trenary's leadership, Pinnacle has grown from a $78
million turboprop-only airline with a fleet of 36 aircraft, to a
regional powerhouse with revenues over $1 billion and a fleet of
nearly 300 aircraft. Trenary oversaw the acquisition and
integration of Colgan Air in 2007 and Mesaba Airlines in 2010,
helping to grow Pinnacle Airlines Corp. into one of the largest and
most versatile regional airlines in the world.
Phillip Tenary
Trenary assembled a skilled management team focused on
cutting-edge safety leadership, creating opportunity for employees,
effectively serving the world's largest major air carriers, and
earning profitable returns for shareholders. Most recently, Trenary
and his management team secured long-term agreements with labor to
effectively and reliably serve its major carrier partners for the
long term.
No substantive changes to current operations are planned under
Interim CEO Breeding. Plans enacted under Trenary's leadership,
including the company's planned headquarters relocation to downtown
Memphis, are proceeding on schedule.
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