The Board of AVTECH Sweden AB (publ) ("AVTECH" and / or "the Company") today announces that the Board of Directors, following discussions initiated by and in full agreement with the company's CEO Christer Staaf, has decided to as of March 1, 2016 change the CEO of Company. Christer Fehrling, since 2007 Board member and one of the major shareholders of the Company, will effective 1 March 2016 assume the position as the Company's new Chief Executive Officer while Christer Staaf will move into an advisory role. Christer Fehrling will be CEO during the time period when a long-term CEO is recruited.
"We thank Christer Staaf for his excellent work during the two and a half years he has successfully been CEO of AVTECH. During Christer Staaf’s time as CEO of AVTECH, the company has developed and deployed the system to establish the four-dimensional future flight route (4DT- longitude, latitude, altitude and time) which is the base of AVTECH Aventus application. 4DT is also the basis for Europe's future air traffic management systems as well as the UN agency ICAO’s global plan. Aventus creates the conditions to optimize flight paths for users.
AVTECH has established 4DT and optimized approach winds for more than 1.5 million Southwest Airlines flights, sending them directly to the navigational computers of aircraft so that flights can be optimized", says Bo Redeborn, AVTECH's Chairman.
AVTECH new CEO Christer Fehrling says "The goal is to accelerate the implementation of new customers and to deploy new applications based on the 4DT base system. The Aventus system is very stable, with over 99.9% availability. The 4DT data that is established also has the additional use to make air traffic more predictable, efficient and safe", concludes Christer Fehrling.
For more information, please contact
Bo Redeborn, Chairman of the Board, +46 (0) 8 544 104 80
About AVTECH Sweden AB (publ)
AVTECH develops products and services for digital Air Traffic Management (ATM). Its customers include the global aviation industry; e.g. airlines, airports, aviation authorities, technology companies and airline manufacturers. By using AVTECH’s products and services, each individual flight as well as the entire airline operation can be optimized in terms of cost, noise and emission, efficiency, punctuality and safety. The head office is in Stockholm, Sweden with subsidiaries in Toulouse, France and an associated company in Dubai, U.A.E. AVTECH Sweden AB is listed on NASDAQ OMX First North and has appointed Redeye AB, tel: +46 8 545 013 30, as Certified Adviser.