Sten Gustafson resigns from Era Group as CEO

The Era Group announces the immediate resignation of Sten Gustafson as CEO.

Era Group has announced that Sten Gustafson has resigned as chief executive officer and as a director of the company effective 29 August 2014.

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The company‚Äôs board named Christopher Bradshaw, Era’s executive vice president and chief financial officer, as acting chief executive officer.

Era Group has began identifying a permanent chief executive officer to replace Gustafson, while Bradshaw will also continue as chief financial officer.

Charles Fabrikant, chairman of the board, said: “On behalf of the entire Board of Directors, I would like to thank Sten for his meaningful contribution to Era in connection with its spin-off from SEACOR Holdings Inc. and during the critical early days as an independent public company and wish him well in his future endeavors. The Board and the management team led by Chris Bradshaw are fully committed to the continued implementation of Era’s strategy.”

Gustafson said: “Since I joined Era, we successfully separated Era from SEACOR, executed on our objective to develop and implement corporate strategies specific to Era’s business and have made tremendous progress in setting a course for the company as it commenced its journey as a stand-alone enterprise. I am honored to have brought Era to this point, and I wish the company and its people, whom I respect greatly, every success.”

Bradshaw said: “I have full confidence in the ability of Era’s employees and management team to achieve the goals laid out for the company. My colleagues and I will continue to drive execution and results in full collaboration with our Board of Directors, for the benefit of our shareholders, customers and employees.”

Terry Spruce

Terry is Senior News Editor and writes for both Corporate Jet Investor and Helicopter Investor. He is also responsible for our helicopter guides. Terry has been an aviation enthusiast since the early 1970s. He is a lapsed Private Pilot and ex-Piper Cherokee owner. He has flown a number of light aircraft and is comfortable sitting in the co-pilot's seat or the back of any aircraft. Before moving to journalism he was a banker for 20 years. You can contact him at: terry@corporatejetinvestor.com or follow him on twitter @Terry_Spruce

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