Jordan Hansell has stepped down as chairman and chief executive officer at NetJets with immediate effect. He has been replaced by Adam Johnson, a long-time employee of the US-headquartered fractional ownership provider.

Hansell took over the NetJets reins from David Sokol in 2011. He helped steer the company through the crippling economic crisis that hammered sales of fractionally owned aircraft and led to the demise of many smaller, yet established fractional ownership ventures such as CitationAir and Avantair.

Under Hansell’s stewardship, Berkshire Hathaway-owned NetJets placed orders and options for nearly $10 billion of aircraft from the Bombardier and Cessna stables – continuing a 10-year top-to-tail revamp of the company’s 700-strong business jet fleet that began during Sokol’s 18-month reign.

These acquisitions included 275 Challenger 350s and 650s, for which NetJets is a launch customer.

Hansell’s last public appearance was at the European Business Aviation Convention and Exhibition last month, when he took delivery of the first super-midsize Challenger 350 for NetJets Europe.

However, his reign has also been marred by industrial disputes with the company’s pilots, who earlier this year staged a protest at Berkshire Hathaway’s annual meeting for better pay and conditions.

In a press statement Hansell says: “NetJets is very well positioned for future success and to grab hold of the opportunities before it.”

Fellow former employee Bill Noe, who has been reappointed to his previous position as president and chief operating officer, will join Johnson on the senior management team.

Source: Flight International