Aircraft leasing company AeroCentury’s board of directors appointed Michael G. Magnusson to serve as its CEO, effective September 6, 2016.

Magnusson will bring to AeroCentury more than 30 years of experience in the global aviation and leasing industry. From 1982 until 2015, Magnusson was with Saab Aircraft Leasing in positions of increasing responsibility, serving as president and CEO from 1998 to 2015. As CEO, Magnusson oversaw an aircraft portfolio of more than $500 million and a 40 person staff. After leaving Saab, Magnusson was a founding partner of an independent consulting company that he will leave when he joins AeroCentury.

“Michael is well-known and well-respected in the worldwide aviation market,” said Evan Wallach, chairman of the board of directors. “His broad experience with regional aircraft, and his extensive international contacts make him an excellent leader for our team.”

“During my time at Saab and after as a consultant, I worked with AeroCentury on a number of transactions, and was impressed with the professionalism and depth of industry experience of its people. I look forward to joining the AeroCentury team and helping to grow its regional jet and turboprop aircraft fleet by expanding its worldwide airline customer base,” said Magnusson.