Gulfstream Aerospace has restructured its management, with chairman Teddy Forstmann taking on the new role of chief executive. The business jet manufacturer says the new structure positions it "...for the next phase of growth".
Gulfstream was run by a management committee headed by Forstmann. The move to a more conventional structure is aimed at improving control of the company, which has almost tripled its revenues over the past five years.
Source: Flight International