CEO Kevin J. Gould Will Take On President's Role, Four Other Senior Execs Promoted

Following the unexpected resignation of Piper President John Becker, Piper Aircraft announced Friday that Chief Executive Kevin J. Gould will assume the company's presidency effective December 1, 2009.  In addition, three other Piper executives have been promoted to vice president positions and one to a senior director position.

Gould will add the president's title and responsibilities to his current position as CEO upon Piper President John D. Becker's resignation, also effective December 1, 2009.  Becker announced that he is leaving Piper to pursue other career goals.

"The expansion of Kevin's responsibilities and the augmentation of his management team directly reflect the strategic investments we're making in Piper's future," said Stephen W. Berger, Piper's Chairman and Managing Partner of Imprimis.  "Kevin has an exciting and aggressive vision for the company that will enhance the owner and pilot experience at every level of the Piper product line.  We will deliver the breakthrough Piper Jet to the market and dramatically expand Piper's global market presence, especially in Asia.  Kevin's team has the experience and commitment to deliver on this vision and help solidify a durable global leadership position for Piper.  We are prepared to support that vision with substantial new capital."

Imprimis, a corporate finance and investment management firm that operates from offices in, Singapore and Brunei Darussalam purchased Piper on May 1, 2009.  Since its acquisition, Imprimis has injected considerable resources into the company, enabling Piper to move forward significantly in several key areas, including market expansion, research and development and ramping up PiperJet development.

"We are at a pivotal point in Piper's history," said Gould.  "Throughout our product line - from our entry-level aircraft to the PiperJet - we are making significant advancements and innovations.  At the same time, we are aggressively expanding our markets globally to meet and exceed the wants and needs of our customers."

"John Becker has been a strong and valued member of the Piper team," Gould added.  "His 20 years with the company have been marked with a dedication to innovation and technological excellence that has made Piper one of the world's leading aircraft manufacturers.  John will be missed, but his contributions and presence will live on in the excellent team he assembled to lead Piper's engineering development and the PiperJet in particular."

In announcing the other appointments to his executive team, which are effective immediately, Gould noted that they are seasoned and experienced executives whose new responsibilities cover every facet of the company.

Jeff Barger, formerly Senior Director of Piper Manufacturing, is Piper's new Vice President of Manufacturing Operations.  An accomplished executive with a proven track record of achieving outstanding results and increasing shareholder value across multiple industries, Barger led the effort to bring to market the award-winning Piper Matrix, which sold out its first year of production with 100 aircraft in 2008 before the first aircraft was delivered. Barger has --  in addition to his experience at Piper - more than 20 years of leadership experience in manufacturing, supply chain and finance roles with companies including Gulfstream, Bridgestone and Texas Instruments.  Barger joined Piper in 2005 as Corporate Controller.  He holds an M.B.A. from Auburn University and a B.B.A. in Finance from Texas State University.
 
Dr. Dennis D. Olcott, formerly Senior Director of Piper Engineering, is the Company's new Vice President of Engineering.  Olcott joined Piper in 2007 and has since held a number of positions of increasing responsibility, including lead development responsibility for the PiperJet and other major product innovations.  Olcott earned his B.S. and Ph.D. (1992) in Mechanical Engineering from Brigham Young University, where he specialized in the dynamic behavior of composite structures.  Prior to completing his doctorate, Olcott worked for LTV Military Aircraft in their Composites Development Group, at AIM Aviation performing structural analysis, and at Cirrus Design, where he was responsible for the design and fabrication of the wing structure on the ST-50 turboprop aircraft.  Olcott was an early employee of Adam Aircraft, and as Vice-President of Engineering helped launch a new company that achieved FAA certification on the A500 push-pull twin-engine piston aircraft. A licensed Professional Engineer, Olcott holds an FAA Private Pilot license with ASEL and glider ratings.  He holds patents for aircraft design, composite processing, and dynamic aircraft seats.  Throughout his career, he has been directly involved in the development of new aircraft configurations, performance analysis, structural analysis, material and process development, loads, and structural testing.

Derek Zimmerman, who joined Piper as Senior Director of Supply Chain in 2006, is the company's new Vice President, Supply Chain and Aftermarket Development.  His duties at Piper were expanded to include Production Control in 2007 and, as Senior Director, Aftermarket Part Sales and Information Technology, in 2009. Zimmerman joined Piper after more than 18 years of experience in supply chain operations with large, high-value-added manufacturing companies operating in a variety of industries. He came from the Harley-Davidson Motor Company, where he was the Supply Chain Operations Manager for the main Vehicle Assembly plant in York, Pa.  In that position his responsibilities included capital budgeting, direct/indirect procurement, new product introduction, supplier chain design, and supplier performance management. Zimmerman received his M.B.A. from Auburn University in 2009 and holds a B.S.B. in International Operations from the University of Minnesota.

Mary Messuti, formerly Piper's Director of Production Engineering, is the company's new Senior Director, Asia - a newly formed position with responsibility for successful development, implementation and management of assigned Asian aviation initiatives. She will be responsible for the distribution of aircraft and parts, ground and flight training, customer service, maintenance, and operations; Messuti will also oversee coordination with governmental authorities and ensure that Piper's Asian aviation initiatives are in compliance with applicable civil aviation regulations and other governmental requirements in the region. Messuti, who joined Piper in 2007, has more than 10 years experience in the aviation Industry and 24 years of business management experience. Before joining Piper, Messuti held senior executive positions with a number of companies, including General Manager, Northeast Division, at GES Exposition Services, Inc.; General Manager, Industrial Tools Strategic Business Unit at Ingersoll Rand; Vice President of Manufacturing Operations at Burns Aerospace.  She holds an M.S. in Operations Management from Rensselaer Polytechnic Institute and a B.S. in Industrial Engineering from West Virginia University.

FMI: www.piper.com