SR Technics has announced Frank Walschot as its new CEO effective Apr. 1.
Walschot will take the reins at the Swiss MRO from the departing Jeremy Ramacha, who is leaving the company as scheduled after Chinese shareholders HNA Group took a controlling stake in the business from previous shareholder Mubadala, the Abu Dhabi state investment fund.
Possessing more than 30 years’ aviation industry experience, Walschot has spent the past year as chief investment of HNA Technic, based in Haikou, where he oversaw the development of its MRO strategy.
His association with Zurich headquartered SR Technics goes back 10 years, having joined the company in 2008 as vice president engine maintenance. He later became head of engine services and then chief operating officer.
HNA Group first agreed to take an 80% stake in SR Technics in summer 2016, adding to its other aviation assets which include a 20% stake in Virgin Australia and a $2.8 billion buyout of airport luggage handler Swissport International, completed in July 2015.
In the past year, SR Technics has expanded its capabilities and customer base, including opening new line stations across Europe and adding new contracts in segments such as cabin interior work.