Magnetic MRO announces changes in its leadership team
Magnetic MRO, Estonia-headquartered Total Technical Care company, recently announced the upcoming changes in its leadership team.
From December 1st, 2016 Risto Mäeots will be promoted from his current Chief Operating Officer position to the Chief Executive Officer position and will resume responsibility for overall company direction.
Incumbent company CEO Jonas Butautis will move to the Chairman of the Management Board position, supporting Risto Mäeots with the transition, also guiding group-level M&A, asset management, and strategic projects activities.
“Over the last three years Magnetic MRO has grown out of a typical hangar-based MRO company into a provider of blended MRO, asset management, and technology solutions. In early 2016 we successfully executed our first M&A project by acquiring MAC Interiors in the UK, which has since become a vehicle of growth in the exciting aircraft modifications market. All these new areas of asset management, M&A activities, and technological solutions, require focus if we expect to excel in them”, says Jonas Butautis, incumbent CEO of Magnetic MRO.
“Thus we made a decision to hand over diverse Magnetic MRO operations to the new CEO Risto Mäeots, thus allowing me and other Management Board Members to focus on areas which add significant strategic value to the business. Risto has grown together with Magnetic MRO and is a natural choice for the new Chief Executive Officer role. He is ready to lead this business over the exciting next few years, positioning the company strongly as the Total Care MRO provider”.
There are no expected changes to Magnetic MRO strategic direction. Having delivered more than 100 percent organic growth over the last year, the company is expected to continue on its path of offering Total Technical Care products and services, thus securing significant strategic growth opportunities for upcoming years.