David N. Siegel, the former CEO of Gate Gourmet Group Inc. and US Airways Group, Inc., has been named president and CEO of XOJET.Mr. Siegel has been a member of XOJET’s board of directors since 2007. Having successfully led the company since its inception two years ago, Paul Touw, the company’s founder and chief architect, will take on the role of executive chairman, strengthening the leadership team as the company enters an exciting new phase of growth.
“We are enormously excited to have Dave Siegel join our team as chief executive,” Mr. Touw said. “As a member of the XOJET board, Dave and I have become close friends and I have grown to admire the leadership skills that have made him one of the aviation industry’s most well-respected executives. He is a world class CEO with a wealth of experience managing companies, from start-ups to multi-billion dollar commercial airlines to global transportation enterprises. We are both humbled and excited by his decision to join XOJET as we build on our significant accomplishments and look toward the great future ahead of us as we continue to change the way people fly private.”
“XOJET is at a unique inflection point in its short, but stunningly successful history,” said Mr. Siegel. “The company is poised for dynamic growth in a market segment demanding air travel experiences distinguished by superior customer service and outstanding operations. I am excited to join Paul Touw and the rest of the team to execute on a strategic plan destined to secure XOJET’s future as the nation’s premier private aviation company.”
“Through our unique hybrid business model that combines private jet ownership, leasing and on-demand travel with a singular focus on providing outstanding customer service, XOJET has emerged as an industry leader in each of these categories,” continued Mr. Touw. “More importantly, XOJET has set a new standard for what private jet travel should be - an experience that is personal, seamless and stress-free.
“Having recently secured $2.46 billion in financing, the company is now well-poised to execute our expansion strategy and capitalize on the rapidly growing demand for private jet travel,” he added.
Mr. Siegel, age 46, was named chairman and chief executive officer of Gate Gourmet Group Inc., the world’s largest independent airline catering and logistics provider, in 2004. Under his leadership, the company underwent an operational and financial restructuring that tripled enterprise value. He also oversaw a strategic growth plan to build a best-in-class portfolio of in-flight products and services through acquisitions and investments resulting in the 2008 formation of gategroup, the umbrella brand for 11 aviation services companies. Prior to Gate Gourmet, he was president, chief executive and a member of the board of US Airways Group, Inc. and US Airways, Inc., the airline operating unit. Before that, he was chairman and CEO of Avis Rent A Car System, Inc.
Earlier in his career, Mr. Siegel served in various senior management roles at Continental Airlines and Continental Express. As CEO of Continental Express, he negotiated the largest aircraft order in regional airline industry history for 275 jets as the launch customer for the Embraer 145/135 regional jet program - part of Continental Express’ ambition growth plan that produced five-fold revenue growth from approximately $200 million to more than $1 billion within only a few years. He also previously served as director of corporate planning at Northwest Airlines. A magna*censored*laude graduate of Brown University, he earned a master’s degree in business administration from Harvard Business School.