CDB Aviation Names Chen New CEO, Hannigan to Retire in Early January

Jie Chen was named the new CEO of CDB Aviation, a wholly-owned Irish subsidiary of China Development Bank Financial Leasing, by the company’s board of directors. Chen will replace Patrick Hannigan, who is set to retire in January.

Chen joind CDB Aviation from Air Lease where he served as executive vice president, managing director of Asia and president of ALC Hong Kong, leading commercial and sales efforts in Asia, which included the execution of the company’s long-term strategy and the development of new and existing markets in the region.

“The Board and I are thrilled that Chen has elected to take on the important role of leading the exciting next stage of the platform’s development – this is an opportune moment for CDB Aviation to drive its growth momentum with the industry recovery in full swing,” Madam Hong Ma, chairperson of CDB Leasing, said. “We are highly confident that Chen will steer the organization successfully into the future, and we look forward to providing the support and resources that the talented leaders and colleagues of CDB Aviation will require to continue their efforts.”

Deploying more than three decades of exemplary aviation industry experience, Mr. Chen’s immediate focus will be on advancing collaboration with the lessor’s airline customers, shareholder, and other stakeholders to support the industry recovery while building on the team’s strong relationships and the strength of its full-service, global platform to capitalize on emergent market opportunities.

“I am honored to be given the opportunity to lead CDB Aviation and its remarkable team in advancing the company’s long-term vision, building on a strong track record of business performance and market success, while leveraging the unique capabilities and resources of our shareholder,” Chen said. “With the industry’s rapidly evolving requirements, especially in the area of sustainability, our path forward will focus on delivering innovativeness and stewardship that meet the changing needs of the global airline sector and generate industry-leading shareholder value.”

“On behalf of the Board and the entire company, I’d also like to thank Pat for his immeasurable contributions over the past years,” Ma said. “Pat has proven to be a thoughtful and dedicated leader, whose unfettered determination and commitment to excellence will remain at the core of the business.”

“It has been a great pleasure to have worked with the industry’s best-in-class team in establishing CDB Aviation as a leading global lessor with an increasingly influential role in the marketplace,” Hannigan said. “I am thankful for the opportunity and confidently leave the company in the capable hands of Chen and the execution-driven team to lead CDB Aviation into the future.”

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