AerCap has announced that their President and Chief Commercial Officer Philip Scruggs will retire effective March 2021. Mr. Scruggs will be succeeded as Chief Commercial Officer by Peter Anderson.
On Monday (February 1, 2021), AerCap Holdings N.V. announced that their President and Chief Commercial Officer, Philip Scruggs, will retire after 26 years with the company in March 2021. Mr. Scruggs will be succeeded by Peter Anderson who will become the company’s Chief Commercial Officer. During his long career with AerCap, Philip Scruggs held various positions including lawyer, leasing executive, Chief Commercial Officer and President. Over the last decade, he led the company’s commercial business, managing a fleet over 1,000 aircraft which generated an average of over $4 billion annually. Additionally, he oversaw the purchase of more than $27 billion in new equipment from Airbus, Boeing and Embraer.
In Monday’s announcement, AerCap’s Chief Executive Officer, Aengus Kelly, said,
“Through his leadership, his customer relationships and his acute commercial acumen, Phil has played an integral role in establishing AerCap as the world’s leading aircraft leasing company. I would like to thank Phil personally and on behalf of the AerCap team for his outstanding service over the past 26 years and for his role as an architect of our company. His legacy will not only be the successful aircraft leasing platform he helped create but also the leaders whom he has mentored and developed throughout his career.”
Also commenting on his pending retirement, Mr. Scruggs, added,
“The strength of AerCap is its people. They set a high standard for the industry. I am proud to have worked alongside them. There is no perfect moment to retire, but I leave knowing that the leadership of AerCap is strong and that the company’s best days are ahead of it.”
With Philip Scruggs’ retirement, Peter Anderson will be promoted to Chief Commercial Officer. Mr. Anderson brings two decades of global leadership experience in aircraft leasing and structured finance, having worked in Dublin, Singapore, London and Sydney. He is a member of AerCap’s Group Executive Committee and is currently responsible for the company’s leasing activities across Europe, the Middle East and Africa. Prior to his current position, Mr. Anderson opened and developed the Asia Pacific office of AerCap’s predecessor ILFC, later transitioning to Head of Asia Pacific after AerCap’s 2014 acquisition of the company.
Speaking on Mr. Anderson’s appointment to Chief Commercial Officer, Mr. Kelly said,
“We are fortunate to have someone of Peter’s caliber to lead our commercial team. Peter has been a leader within AerCap for many years, both in EMEA and APAC, and has proven himself a worthy successor to step into Phil’s shoes. He has extensive experience and deep knowledge of the industry, which will be of great value to AerCap in his new role as Chief Commercial Officer.”
Commenting on his elevation to Chief Commercial Officer, Peter Anderson added,
“I am honored to take on the responsibility of Chief Commercial Officer at AerCap. I look forward to leading the AerCap team as we navigate the industry’s current challenges and position the company for continued success in the years to come. I thank Phil for his leadership and friendship over the last decade – working alongside him has been a privilege.”
AerCap Holdings N.V. (NYSE: AER) is the global leader in aircraft leasing and maintains one of the most attractive order books in the industry. The company serves around 200 customers in 80 countries with comprehensive fleet solutions. AerCap is headquartered in Dublin and maintains offices in Shannon, Los Angeles, Singapore, Amsterdam, Shanghai, Abu Dhabi, Seattle and Toulouse.
Source: AerCap