Atlas Air Worldwide has appointed Michael T. Steen, the company’s current EVP and Chief Commercial Officer, as Chief Executive Officer effective June 15, 2023. Mr. Steen succeeds John W. Dietrich, who is retiring after nearly 25 years.
On Thursday (May 4, 2023), Atlas Air Worldwide announced the retirement of their Chief Executive Officer John W. Dietrich after nearly 25 years with the company. As part of long-term succession plans, Atlas’ EVP and Chief Commercial Officer Michael T. Steen will become CEO effective June 15, 2023. Additionally, Atlas has announced that Spencer Schwartz, EVP and Chief Financial Officer, will also retire on the same date. Michael Steen has over 30 years of aviation industry and logistics experience, including 16 years of executive leadership experience with Atlas. He has served as the company’s Chief Commercial Officer since 2007, leading Atlas’ strategy and growing market share, as well as diversifying the company’s roster of blue-chip clients.
In Thursday’s announcement, Atlas Air Worldwide’s Chairman, David Siegel, said,
“Michael’s leadership experience, strong track record of innovation and success, and consistent focus on the company’s customer-centric mission makes him the ideal candidate to lead Atlas forward in its next phase of growth. On behalf of the Board, we look forward to working closely with Michael to execute on Atlas’ strategic growth plans and continuing to build on the Company’s strong commitment to safety, quality and service excellence.
“We thank John for his leadership of the talented Atlas team and the significant contributions he’s made to build Atlas’ position as a global leader in airfreight. Under his leadership as CEO, Atlas navigated one of the most dynamic and challenging periods the aviation industry has ever faced, affirming the essential role Atlas serves in the global supply chain. Additionally, we want to recognize Spencer for his stewardship of the Company’s financial strategy, helping to drive record earnings and supporting the Company’s growth and diversification.”
Also commenting on his upcoming role as Atlas’ CEO, Michael Steen said,
“I am thrilled by the opportunity to lead our incredible Atlas team as we design and execute our vision for growth and embark on new and exciting opportunities as a private company. This is a transformative time for Atlas, and the continued support from Apollo, J.F. Lehman and Hill City will play an important role as we enhance our capabilities and deliver new solutions for our customers. I am grateful for John’s leadership, and look forward to building on this strong foundation of global success. I also thank Spencer for his partnership and contributions throughout his time with the Company.”
Atlas Air Worldwide’s retiring CEO, John W, Dietrich, added,
“I am immensely grateful for my time at Atlas over the last nearly 25 years, and proud of all that our exceptional team has achieved together. Being part of Atlas’ growth and global expansion has been incredibly rewarding. I know that the Company is well positioned to further accelerate its growth and will continue to deliver value for all stakeholders under Michael’s capable leadership.”
Purchase, New York-based Atlas Air Worldwide is a leading global provider of third-party aircraft and aviation operating services. Company subsidiaries include Atlas Air and Titan Aviation Holdings. Additionally, the company owns a majority stake in Polar Air Cargo Worldwide. Together, the Atlas Air family of companies operate the world’s largest Boeing 747 Freighter fleet. The company also offers their customers a wide selection of Boeing 747, 777, 767 and 737 aircraft for domestic, regional and international cargo and passenger operations. On March 17, 2023, Atlas Air Worldwide was taken private by an investment group led by funds managed by affiliates of Apollo Global Management, along with investment affiliates of J.F. Lehman & Company and Hill City Capital.
Source: Atlas Air Worldwide