Embraer has hired a corporate aircraft finance executive to become the next president and chief executive of the Executive Jets division on 1 March, replacing Marco Tulio Pellegrini.

Michael Amalfitano joins Embraer Executive Jet after a 35-year in the aircraft leasing business, including leadership positions at GE Capital and Stonebriar Commercial Finance.

Amalfitano inherits a division that has transitioned since last year from a decade-long pursuit of multiple development projects to a production operation with a broad portfolio of light and midsize jets, along with VIP derivatives of Embraer’s commercial regional jets.

“I´m honored to assume the executive position Marco has held,” Amalfitano says in a statement, “and leverage our highly valued portfolio of aircraft to the benefit of our customers and shareholders globally.”

Pelligrini will assume a new leadership position that will be announced later, Embraer says.

Pelligrini, a veteran Embraer employee, assumed his current role on 1 January 2014, succeeding Ernest Edwards.

In appointing Amalfitano, Embraer returns to form in bringing in an external candidate to lead the Executive Jets division. The division was founded more than 15 years ago by former Brook Group consultant Sam Hill, who later became chief executive of general aviation aircraft manufacturer Quest, before retiring from the company in early February. Hill was succeeded by in 2005 by Edwards, who came in from Swift Aviation Group and is now the chief commercial officer for supersonic jet developer Aerion.

Source: FlightGlobal.com