Hawker Beechcraft has announced a new chairman and CEO of the Wichita-based aircraft maker amid a troubled global business jet environment.
Bill Boisture, formerly president of NetJets, Gulfstream Aerospace and British Aerospace Corporate Jets, will assume the company's top position, effective immediately.
Jim Schuster, who presided over the helm of Hawker Beechcraft for two years, announced his retirement in November 2008. His tenure at the company included certificating the Hawker 900XP and first delivery of the composite Hawker 4000.
Mr. Boisture's arrival comes amid a global financial crisis and a struggling business jet market that has seen a sharp rise in aircraft deferrals and cancellations, as well as dropping utilization of business aircraft.
As a result of the turmoil, Hawker Beechcraft plans to eliminate 2,800 jobs in 2009, nearly 30% of the company's workforce.