Fri, Jan 13, 2006
Earlier this week,
Mooney Aerospace Group, Ltd. announced its Board of Directors voted
unanimously to appoint Steven E. Karol as Chairman of its Board of
Directors, replacing Walt Catlow.
"My relationship with Mooney is both professional and
passionate," Mr. Karol said. "I recognize the challenges and
opportunities we face as a company. Mooney has made significant
progress in the past two years and I believe that I can help build
upon that momentum."
"At the same time, I can't help but look at Mooney from a
pilot's perspective and I have to say that I'm excited about the
products we're offering and the excellent reputation Mooney enjoys
in the general aviation marketplace," he added. Karol has been a
private pilot since 1975.
Mr. Karol is the Managing Partner and Founder of Watermill
Ventures and Watermill Advisors. He has over 25 years of experience
leading companies in strategy development, acquisition and
revitalization for both Watermill's portfolio as well as client
companies. He also serves as the Chairman of the Board and CEO of
HMK Enterprises, Inc., a privately held investment company which
owns and operates North American based industrial companies.
In addition to now leading the Mooney Aerospace and Mooney
Airplane Company boards, Mr. Karol will also remain a member of the
Board of Directors for StockerYale, Inc. and the J. Walter
Company.
Mr. Catlow said upon leaving, "I have enjoyed our professional
relationship during 2005 ... taking Mooney to unparalleled stature
in the field of personal air transportation. I wish all of you
continued success and the best for the company with its wonderful
products and powerful brand."
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