NEW YORK--(BUSINESS WIRE)--Air Lease Corporation (NYSE: AL, “Air Lease”, or “the Company”) has announced that John L. Plueger has been appointed as Chief Executive Officer and President effective July 1, 2016. Steven Udvar-Hazy will act as Executive Chairman of the Board and Gregory Willis has been promoted to Executive Vice President and Chief Financial Officer, also effective July 1, 2016.
KBRA believes the changes reduce key-man risk related to Mr. Udvar-Hazy, who will remain deeply involved in the business, by expanding the roles of key members of the management team. As Mr. Udvar-Hazy and Mr. Plueger have worked together for many years, KBRA views the succession as well planned and expects a smooth transition. In December of 2015, KBRA affirmed the issuer/senior unsecured debt ratings of A- with a stable outlook for Air Lease Corporation. The ratings are based on KBRA’s Finance Company Rating Methodology, published on April 1, 2013. The ratings and supporting rationale are available at www.kbra.com.
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