Air T, Inc. | A Diversified Holding Company | NASDAQ: AIRT
An experienced and committed team.
Leadership – Air T Executives
Nick Swenson – CEO and Chairman
Nick Swenson has been Chairman of Air T, Inc. since September 2013 and CEO since February 2014.
Nick is the general partner (through AO Partners LLC) of AO Partners I, L.P. (largest shareholder of Air T with 28.3% of the common stock).
Nick was founder and portfolio manager of the Whitebox Hedged High Yield Fund operated by Whitebox Advisors, LLC. He was also a co-portfolio Manager of the Whitebox Combined Fund and Pandora Fund. Nick was portfolio manager for the Whitebox Hedged High Yield Fund for seven years from inception in January 2002 through February 2009, where he grew assets under management from $10 million to $1.65 billion.
Previously, he was a distressed debt analyst at Varde Partners, a hedge fund focusing on investments in bankrupt companies. Nick’s background also includes capital markets experience at Piper Jaffray and Lehman Brothers.
Nick earned a BA, Magna Cum Laude, Phi Beta Kappa, in History from Middlebury College in 1991, and an MBA in Finance from the University of Chicago in 1996.
Brett Reynolds – SVP and CFO
Brett Reynolds joined Air T, Inc. on May 9, 2018, as Senior Vice President and Chief Financial Officer. Brett brings to the Company over 25 years of experience as a results-oriented senior financial executive with significant public company and mergers, acquisition and integration expertise.
He most recently served as SVP and CFO of Cogentix Medical, Inc., a publicly-traded medical device manufacturer that was purchased by Laborie Medical Technologies for $239 million in April 2018. Cogentix was formed in March 2015 through the merger of publicly-traded companies Vision Sciences and Uroplasty. Mr. Reynolds joined Uroplasty as SVP and CFO in August 2013.
Brett previously served for seven years as CFO of Synovis Life Technologies, Inc., a publicly-traded medical device manufacturer purchased by Baxter International for $325 million in 2012. Prior to Synovis, Mr. Reynolds served in executive financial positions at Chiquita Processed Foods, LLC, Imation Corp. and Deloitte & Touche LLP.
Candice Otey – CAO
Candice Otey was appointed Chief Accounting Officer of Air T, Inc. and CFO of Air T’s wholly-owned Mountain Air Cargo, Inc. and CSA Air, Inc. air cargo subsidiaries on May 9, 2018.
She previously served as CFO of Air T since joining the diversified holding company in November 2014, bringing to the Company financial operations management experience from the likes of Time Warner Cable and at KPMG, where she worked with several Fortune 500 companies.
Over the past 11 years, Candice has developed expert qualifications in all facets of finance, accounting, auditing, and regulatory affairs. She has become a transformational leader who inspires trust, works with cross-disciplinary teams to drive corporate objectives, successfully implements cost reductions and process improvements, leads strategic and M&A initiatives across multiple business units, and provides research & analysis as well as due diligence on potential acquisition opportunities.
Candice possesses demonstrated financial leadership and growth discipline in her focused efforts to marshal Air T, Inc. resources, reduce effective tax rates, and drive capital allocation efficiency for the Company and its subsidiary operations – employing more than 680 people across all companies – through five core industry segments, including (1) overnight air cargo, (2) ground equipment sales, (3) ground support services, (4) printing equipment and maintenance, and (5) leasing.
Her wide-ranging scope has included: financial operations management, FP&A, M&A due diligence, financial forecasting and modeling, banking relationship management, financial statement analysis and approval for Company subsidiaries, investor presentations, audits, earnings releases, compliance, budgeting, accounting, and corporate insurance.
Prior to Air T, Inc., Candice was with Time Warner Cable, at the time the nation’s 2nd largest cable company, where as a Senior Tax Associate was responsible for Audit Defense and Controversy Support, Transaction Tax Compliance, State/Local Taxation Research, Sales & Use Tax Reserve Preparation, and Transaction Tax Reconciliation. Previously, she was a Senior Tax Associate for KPMG with responsibilities including Sales and Use Tax Reverse Audits, Compliance Returns, State and Local Tax Preparation, Scenario Modeling, and Tax Decision Matrices Preparation for several Fortune 500 companies.
Candice holds the following credentials: CPA (Licensed in North Carolina); member of AICPA; member of the Financial Executives International (FEI); and member of North Carolina Association of Certified Public Accountants (NCACPA). She holds an MBA from Radford University.
Leadership – Air T Subsidiaries
Craig Bentley – CEO of Mountain Air Cargo, Inc. and CSA Air, Inc.
Craig joined the Air T family as the CEO of MAC and CSA in August of 2017. Craig brings over eighteen years of airline industry leadership experience this role. Craig is a collaborator and builder of teams inspiring growth and performance through empowerment and accountability.
Craig is a former SVP at Cape Air where he led the flight operations team for over eight years. Craig has a vast depth of experience in airline operations, flight training, systems integration, FAA interface and pilot development programs. Craig holds an ATR42/72 type rating, a Commercial Single Engine land and sea certificate, and a Flight Instructor certificate with airplane single and multiengine instrument ratings. He has accumulated over 9000 flight hours and 3000 hours of dual given.
Craig earned a BS in Aeronautical Science from Embry Riddle Aeronautical University and an MBA in Applied Aviation Management from Daniel Webster College. Craig is a member of numerous Industry Advisory Boards serving many colleges and universities, and he is also a member of the Aviation Accreditation Board International.
Brad Osborn – CEO of Global Aviation Services, LLC
Brad Osborn is CEO of Global Aviation Services, LLC and has over 30 years of experience in the aviation industry. Seeing a need in the industry for a high quality maintenance provider for ground support equipment, Brad founded the company in September 2007.
He began his career in airline industry with Minneapolis-based Mesaba Airlines. Brad held various positions in his 23-year tenure at Mesaba, most notably were 10 years as Hub Director overseeing operations at its hub in Minneapolis and 6 years as Director of Corporate Services overseeing non-aircraft purchasing, properties and facilities for the airline.
Michael Moore – CEO of Global Ground Support, LLC
Michael Moore was appointed CEO of Global Ground Support in 2012 and has over 30 years of senior leadership experience in the aerospace industry. Michael is also recognized as a turn-around management leader of organizations, such as Honeywell and Thales, as well as having an extensive background in executive management and a focus on operations.
Michael developed a global business perspective by being trained in lean manufacturing techniques by Kawasaki in Osaka, Japan, and he gained further experience in leading international operations for Thales in Europe. He earned both a BS in Management and an MBA from Eastern Illinois University.
Leadership – Air T Board of Directors
John Andrew Reeves
John Andrew (Andy) Reeves has more than 23 years of experience in leading successful operations at all levels of the aviation industry, including being a commercial pilot, and serving as the head of operations overseeing a more than $400 million revenue base and 8,000-plus employees across the globe in more than 85 locations.
Reeves joined Silver Airways as Chief Operating Officer of the airline in March 2015 where he directed all aspects of Silver Airways’ day-to-day execution of the operational side of the airline, including airports, flight operations, inflight, OCC and technical operations with a heavy focus on further improving Silver’s operational performance, reliability and customer service. Reeves left Silver Airways in April 2017 and now serves as a Realtor in South Florida for Coldwell Banker and Jonathan Keith and Associates.
Before joining Silver Airways, Reeves served as Senior Vice President of Operations and Sales for North America for Aircraft Service International Group (ASIG), one of the world’s largest into-plane fueling and ground handling operators. He also served as Director for ASIG Holdings, Inc. His previous ASIG experience also includes serving as Vice President Operations and Sales for North America and Vice President of Technical Services. Prior to ASIG, Reeves served as Director of Technical Services and Procurement of Signature Flight Support. Reeves joined Air T’s board in August 2013.
Gary S. Kohler
Gary S. Kohler, MBA, has been Chief Investment Officer, Portfolio Manager and Managing Partner of Blue Clay Capital Management, LLC since January 1, 2012. Kohler served as a Portfolio Manager and Partner of Whitebox Advisors, LLC, an investment management firm, from January 2000 to December 2011.
Kohler has experience in investing and managing investments in a wide variety of businesses during his over 25-year career in the field of investment management services. He spent 13 years at Okabena Company and Okabena Investment Services as Vice President and Portfolio Manager from 1984 to 1997. He was associated with ChoiceTel Communications, Inc. He served as Chairman of the Board at Printware, Inc. He has been a Director of Destron Fearing Corp. since September 1998.
Kohler has been a director of Air T, Inc. since September 2014. He served as a Director of Audio King Corp., since March 1992; Printware, Inc., since 2000; Echo Therapeutics, Inc., from 1989 to February 22, 2007, and ACI Telecentrics Inc., since 2003. Kohler has earned an MBA at Cornell University’s Johnson School with concentrations in both Marketing and Finance and a BA with majors in Psychology from the University of Minnesota.
Seth Barkett joined Groveland Capital, a hedge fund manager, in February 2011. His responsibilities include investment research, trading, and portfolio management. Prior to joining Groveland Capital, Seth was a co-manager at Vela Capital, a long/short hedge fund focused on small-cap stocks.
Previously, Barkett was an associate at Storm Lake Capital, a merchant banking affiliate of Whitebox Advisors that invested in privately-held distressed automotive suppliers. At Storm Lake Capital, he pursued management buyouts, recapitalizations, and corporate restructurings. He was also involved in sourcing deals, executing due diligence, and working closely with company executives to improve operating performance.
Barkett began his career as a financial analyst at Resource Land Holdings, a private equity firm with alternative investments in natural resource-related assets and businesses. He graduated with a BA in Business and Economics from Wheaton College (IL) and has served on the Board of Directors of Air T, Inc. since August 2013.
William R. Foudray
William R. Foudray, also known as Bill, co-founded Vantage Financial, LLC in August 2011 and has been its Executive Vice President since its inception. Foudray has over 17 years of experience in the financial services industry in all facets of operations and financial management. He also has experience in the leasing business, including in the equipment leasing business.
Foudray served as an executive officer of a significant operating business. He served in various executive capacities, including as Vice President of Operations, Chief Financial Officer and Executive Vice President of Finance of Fidelity National Capital, Inc., a third-party technology leasing firm and then subsidiary of Fidelity National Financial, Inc., from 1999 to 2009 and as Vice President of Winthrop Resources Corporation from 2009 to July 2011. He oversaw all of the Fidelity National’s finance, operations, and accounting functions. Foudray has been a director of Air T, Inc. since August 2013.
Andrew Stumpf has served as Vice President of Finance for Cadillac Casting, Inc. and 3Point Machine, Inc. since 2010. These companies design, engineer and manufacture metal cast and precision-machined drivetrain and chassis components for the automotive industry. His responsibilities include financial and strategic planning, financial reporting and year-end audit and tax filings. Stumpf is integral to corporate development initiatives including acquisitions and debt and equity financing.
Stumpf is also a partner with Storm Lake Capital, LLC (SLC), a private investment group which provides subordinated debt and equity capital to lower middle market companies. Prior to joining SLC in 2007, Stumpf served as Vice President in the Investment Banking Group at Stout Risius Ross Advisors, LLC (SRR), which he joined in 2000. His investment banking experience includes mergers, acquisitions, divestitures, shareholder recapitalizations, leveraged and management buyouts, and the private placement of senior and subordinated debt. He also provided business valuation and financial advisory services including fairness and solvency opinions and other tax, corporate, and litigation related matters to Fortune 500 and middle-market companies.
Prior to joining SRR, Stumpf worked with Ernst & Young, LLP in its Assurance and Advisory Business Services group in Detroit. Stumpf has been a director of Air T, Inc. since November 2014 and currently chairs its Compensation Committee and Nominating Committee. He earned a BA in Professional Accounting from Michigan State University and an MBA from The Eli Broad Graduate School of Management at Michigan State University.
Peter McClung joined the Air T, Inc. board in December 2017. Peter is an accomplished business executive and expert in developing sales and marketing strategies based on customer insights. He has over twenty years’ experience building and leading teams to grow revenue, profitability and market share in a variety of industries with deep experience in technology, healthcare, pharmaceuticals, financial and consumer packaged goods.
Currently, Peter is CEO and co-founder of The Jump, a technology platform to inspire and celebrate experiences that are positive, meaningful and authentic. He’s also Principal Partner at Welcome to Seven, a full service strategy and branding agency combining great creative with sophisticated strategy and research. Peter has related brand experience with UnitedHealthcare, Novartis, Microsoft, AARP, SSGA (State Street Global Advisors), FPX, and Unruh Furniture.
His corporate experience includes VP Managing Director of Idea Couture; VP Strategy & Marketing UnitedHealth Group; Director Marketing of Novartis Pharmaceuticals; and Director Global Marketing of BASF.
Peter is an expert in developing strategies based on customer insights, and has built and led teams to successfully grow revenue, market share and profits. His strong attention to detail and drive for results are only matched by his appreciation for the people he leads.
Travis Swenson joined the Air T, Inc. board in December 2017, and currently serves as Chairman of Air T’s Audit Committee. Over the course of his 18-year career in professional services with firms like CBRE and Deloitte, Travis has focused on strategic consulting, auditing, tax, corporate finance, the capital markets, and mergers and acquisitions – with a strong focus on the real estate and financial services industries.
Currently, Travis is a Senior Managing Director and Americas leader CBRE’s Investment Accounting and Reporting Solutions group, where he oversees end to end accounting services provided for over 700 clients. He is responsible for the leadership and guidance of more than 900 professionals, representing more than 750 million square feet of real estate.
Previously, Travis was with the Capital Markets Advisory practice of Deloitte & Touche, where he led global financial institutions in the development and implementation of sustainable strategies to drive revenue growth while addressing strategic, financial, operational, regulatory and technology risks. Preceding this role, he was with Deloitte’s Financial Services Audit and Tax practices, serving a variety of institutional asset management, private equity and alternative investment clients.
Travis holds the following credentials: CPA (Licensed in Minnesota and California); Member of the American Institute of Certified Public Accountants (AICPA); Chartered Global Management Accountant (CIMA / AICPA); Certified in Financial Forensics (AICPA); Certified Information Technology Professional (AICPA).
He earned an Executive MBA from the University of Minnesota, Carlson School of Management Master of Business Administration, and from the University of San Diego, a degree from its School of Business Administration Bachelor of Accountancy.