Canada’s Cargojet has named two long-time members of its C-suite team as co-chief executives, with current CEO Ajay Virmani to become executive chairman.
In what Cargojet called on 13 November a “significant leadership transition”, the Ontario-based freight carrier’s chief corporate officer Pauline Dhillon and chief strategy officer Jamie Porteous will become co-CEOs effective 1 January.
Virmani has been Cargojet’s CEO since it was founded in February 2002, overseeing its listing as a publicly traded company in 2005 and growth in recent years as a major operator of widebody freighters.
Dhillon and Porteous are also founding members of the company who have worked as “integral executive members of the Cargojet team since its inception 22 years ago”, the company says.
”Their complementary skill sets, long-standing dedication to our organization along with unwavering focus on our team, customers and stakeholders makes them the ideal strategic successors to lead us into a new era of innovation and growth,” says Virmani.
Dhillion currently oversees global ground operations for Cargojet, and has previously overseen marketing, human resources, legal, facilities and operational efficiency for the company.
Porteous has been “instrumental in helping grow Cargojet from a start-up to air cargo leader”, the carrier says. He has worked in sales, customer relations, commercial strategy, operations, network planning and investor relations.
“We are excited and humbled by this opportunity,” Dhillon says. “Our focus remains on safely delivering excellence in air cargo solutions for our customers while staying true to our corporate culture and founding principles.”
Operating nearly 40 Boeing 757s and 767s converted for cargo, Cargojet has headquarters near Toronto and an operational base at Toronto-Hamilton International airport.
It recently reported a third-quarter profit of C$10.5 million ($7.63 million) – compared with C$83.4 million of profit during the same period last year – amid a dip in demand for air cargo.