Gogo announced on March 5 that Oakleigh Thorne has been named President and Chief Executive Officer of Gogo, effective immediately. Prior to his appointment, former President and CEO Michael J. Small and the Gogo Board of Directors mutually decided that Small step down from his position and as a director of the company.
Thorne has approximately 30 years of operational and financial leadership experience, including numerous senior management positions and the role of Chief Executive Officer at two public companies. According to a March 5 press release, Thorne currently serves as CEO of Thorndale Farm LLC, the largest Gogo shareholder with approximately 30 percent of Gogo's outstanding common stock.
"I am excited to work with the Gogo team as we move forward with urgency to execute on four strategic priorities: driving quality for airlines and passengers, sharpening our operational focus, achieving profitability with the money we have in the bank, and driving shareholder value," said Thorne in a statement. "We are highly confident in our ability to achieve our strategic and financial objectives as we improve execution and realize our significant growth opportunities."
Ronald T. LeMay, Chairman of the Gogo Board of Directors, also commented: "With our best-in-class technology and capabilities, the Board believes that Gogo has a clear path to achieving our objectives and that now is the right time to transition leadership. After a comprehensive search process, the Board determined that Oak is the best person to help Gogo achieve our next phase of growth. Oak is a seasoned executive with a strong track record and his interests are aligned with all shareholders. Oak has made significant contributions to Gogo as a member of our Board and has a deep understanding of our business, strategy and operations. On behalf of the Board, we also thank Michael for building Gogo into a global leader and we wish him the best."