Erickson Inc (NASDAQ:EAC) the American helicopter manufacturing and operating company has appointed a new chief financial officer for its operations who assumes office on 13th June 2016. David W. Lancelot will be the new CFO of the company bringing in his 25-year-old experience in the financial sector from a couple of top-notch incorporations that he has worked before his appointment in this company.
David Lancelot is expected to boost the economic status of the company applying his extensive experience in debt financing having worked as the CEO of Outdoor Reservation group, Spirit Airlines, and Atlas Worldwide Holdings.
The new CFO of Erickson is expected to improve the share value of this company by far as he has done in his former position as the Chief Financial Officer of Spirit Airlines where in his capacity; h was able to recapitalize the company with an initial public offering of $187 million.
The letter of contract
Erickson Inc. has entered into an offer letter contract with the company where he will serve as the vice president of the company on top the CFO position and a salary of $330,000 annually. The incorporation’s compensation committee has provided approval to the offer letter has to make it official that he will be serving as the new VP and the CFO of the company.
The incorporation lay off over 150 workers a year ago over what was seen by financial experts as capital strains in the company. From that occurrence, many perceive the move of hiring a new financial officer as a strategy to raise the image, share index and well as gross profits of the company by altering the management which has been there for years now.
However, the Current CFO of the company; Mr. Eric Struik is expected to continue serving in his capacity until 13th of this month when David Lancelot will take over the financial operations of the company. In the meantime, Mr. Struik will receive his monthly salary and health benefits for the remaining nine months of his contract with the company.
June 8, the company officially made a public press release on the appointment of David Lancelot to the general public and shareholders. The net holders of the company are expecting much from a lot from the new Chief Financial Officer, and thus, he has a challenge of bolstering financial operations in the company.