Pinnacle Airlines Corp. CEO Phil Trenary to Step Down

v1valarob

v1valarob

Well-Known Member
MEMPHIS, Tenn., March 14, 2011 /PRNewswire/ -- Philip Trenary, President and CEO of Pinnacle Airlines Corp. (Nasdaq:PNCL - News) 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.
(Logo: http://photos.prnewswire.com/prnh/20110112/CL29411LOGO )
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.
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.
About Pinnacle Airlines Corp.
Pinnacle Airlines Corp. (NASDAQ:PNCL - News), a $1 billion airline holding company with 7,700 employees, is the parent company of Pinnacle Airlines, Inc.; Mesaba Aviation, Inc.; and Colgan Air, Inc. Flying as Delta Connection, United Express and US Airways Express, Pinnacle Airlines Corp. operating subsidiaries operate 202 regional jets and 83 turboprops on more than 1,500 daily flights to 196 cities and towns in the United States, Canada, Mexico and Belize. Corporate offices are located in Memphis, Tenn., and hub operations are located at 11 major U.S. airports. Visit www.pncl.com for more information.
This press release contains various forward-looking statements based on management's beliefs, as well as assumptions made by and information currently available to management. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable; it can give no assurance that such expectations will prove to have been correct. Such statements are subject to certain risks, uncertainties and assumptions, including those set forth in our filings with the Securities and Exchange Commission, which are available to investors at our web site or online from the Commission. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove erroneous, actual results may vary materially from results that were anticipated or projected. The Company does not intend to update these forward-looking statements before its next required filing with the Securities and Exchange Commission.
Media Contact: Joe Williams (901-346-6162 / jfwilliams@pncl.com)

Investor contact: Peter Hunt (901-348-4262 / phunt@pncl.com)
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http://finance.yahoo.com/news/Pinnacle-Airlines-Corp-CEO-prnews-3562753322.html?x=0&.v=1
 
He's not a pilot, he's an international airline captain.
 
Ha! I don't know, it depends on what type of game he's trying to run! :)

Old inside joke from NJC years ago!
 
Doug Taylor said:
Ha! I don't know, it depends on what type of game he's trying to run! :)

Old inside joke from NJC years ago!
Click to expand...

Speaking of someone trying to run a game, I took over an aircraft today from a famous JC member who played a game of "fed ride" and apparently passed with flying colors.
 
v1valarob said:
I forget that the Q400 goes to Canada. I think we are losing that flying though. Does his name then revert to Domestic Airline Captain?
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How dare you say "losing!" It was never yours, it all belongs to Continental, I mean United. (Aviation board rules 101).
 
"We fixed it!"

Don't let the door hit you on the way out, Phil.



It's not that pilot's can't run airlines.....of course they can, in fact they do it better than MBA's. HOWEVER, when speaking of Wookiee's it's a completely different game. Everyone knows Wookiee's can't run airlines.


IMG_0331.jpg
 
Not sure this is a good thing. He might be bailing cause he knows something is up. Usually when CEOs quit like this, there's some bad juju coming down the pipeline in a few months.
 
I would venture to guess that it was his time to go. He saw the corporation through two aquisitions as well as a new pilot contract. I think the board members thought that was enough. Maybe I am way off but I cannot think this to be the case when I see some of the names on the PNCL BoD.
 
Uncle Phil is taking a hike

Heard through the grapevine that PT is stepping down...


..."we fixed it?"
 
Re: Uncle Phil is taking a hike

Yeah thought it was weird that it wasn't already being discussed. Didn't see it on the board till after your post.
 
Doug Taylor said:
He's not a pilot, he's an international airline captain.
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I'm flying a trip right now with one of the international airline captain's best buds, former co-worker, former roommate, etc.

The stories just fill hundreds of miles in cruise and keep going. They are . . . interesting!
 
As much as his labor relations skills suck, I do have to give him credit for turning a crappy little Saab operator into a major player in the FFD industry. When Trenary took over Express Airlines 1, it was just a few Saabs with bad paint jobs that Northwest was ashamed of. He came in and really turned things around. Imagine what he could have done if he had actually treated his employees well.
 
Nick said:
I'm flying a trip right now with one of the international airline captain's best buds, former co-worker, former roommate, etc.

The stories just fill hundreds of miles in cruise and keep going. They are . . . interesting!
Click to expand...

They aren't true!
 
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