Dómhnal Slattery, CEO of Avolon, an international aircraft leasing company, will step down from his executive role and the company’s board in 2022. In response, Avolon’s board unanimously appointed Andy Cronin, Avolon’s current president and CFO, to the role of CEO designate. In addition, the board appointed Paul Geaney, Avolon’s chief commercial officer, to the role of president and CCO, effective immediately.

Slattery is Avolon’s founding CEO and has overseen the growth of the business from a private equity backed startup in 2010 to an aircraft lessor with a balance sheet in excess of $30 billion. Having served for 12 years, he has elected to step down from his executive role and will now pursue a range of other interests in a non-executive capacity. Dómhnal will work closely with Cronin over the coming months to ensure an effective transition of leadership.

Cronin has held an array of senior roles across the aircraft leasing sector for more than 20 years. As part of the founding team of Avolon and as Avolon’s CFO for the past 12 years, Cronin has played a central role as a member of the executive committee in building the company to the position it holds today. In addition to his CFO role, he has served as president of Avolon since July 2021.

“We have built Avolon from a startup 12 years ago to become a global industry leader. It has been a privilege to lead the business and serve as its CEO since foundation. Avolon is incredibly fortunate to have an individual of Andy Cronin’s caliber to lead it on the next stage of its journey,” Slattery said. “Our ambition was to build a global leader with a team which would be recognized as the industry’s best. We have achieved that and I would like to thank our TRIBE — both past and present — and all of our industry partners and stakeholders for their commitment to realizing the vision we had in 2010. The legacy of any CEO is the team they build. I am proud to step away from Avolon, leaving the business in a strong financial and competitive position and in the hands of a leadership team which I know will continue to excel.”

“Avolon is a truly great business with an incredibly talented and motivated team. I look forward to leading the company through our next phase of development and building on the success of the past 12 years as we continue to innovate, evolve and grow,” Cronin said. “Dómhnal has led Avolon to become an industry leading business and made an outstanding contribution to the global aviation industry during a career spanning over 30 years. On behalf of everyone at Avolon, I would like to thank him for his commitment to the business as we have navigated our course to becoming an industry leader.”