Irish-based lessor Avolon has nominated Andy Cronin as chief executive, succeeding Domhnal Slattery who is stepping down from his position.

Cronin is the chief financial officer of Dublin-based Avolon, and has been unanimously appointed as chief executive designate by the board.

Slattery was the founding chief of the leasing firm, which emerged in 2010, and has served in the top post for 12 years.

Over the period the lessor has expanded significantly, acquiring leasing firm CIT in 2017, and becoming a prominent brand, with an owned, managed and committed fleet comprising more than 850 aircraft.

Avolon says Slattery elected to step down to pursue “a range of other interests” in a non-executive capacity.

Slattery Avolon

Source: Avolon

Slattery is the founding chief of Avolon

“Our ambition was to build a global leader with a team which would be recognised as the industry’s best,” Slattery says. “We have achieved that.”

He will work with Cronin – who was also part of the founding team, and became president in July last year – over the next few months to ensure a smooth transition.

Avolon has named its chief commercial officer, Paul Geaney, to the role of president with immediate effect.