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Cirrus Announces Executive Changes

Written by thomas · Filed Under Aeronautics News 

December 21, 2008

thomas

Duluth, MN (December 19, 2008) Alan Klapmeier, Chairman of Cirrus Design Corporation,
today named Brent Wouters to the post of Chief Executive Officer effective February 1,
2009. Currently President & Chief Operating Officer, Mr. Wouters had served as Executive
Vice President and Chief Financial Officer of Cirrus from early 2002 until March 2008.
Alan Klapmeier noted, “For some time now much of my effort and energy has been focused
on important aspects of Cirrus outside of day‐to‐day operations in Duluth. In addition to the
strategic direction of the company, I continue to be very involved in wider efforts to
promote growth in General Aviation as well as spending even more time within the Cirrus
customer community to learn how we can better serve current and future Cirrus owners.”
“In that light” Klapmeier continued, “Brent’s transition to CEO continues our efforts to build
a strong and capable management team. It also reaffirms our long‐term commitment to our
customers, to our employees, to our vendor and government partners and to our
shareholders. With both broad and in‐depth experience in business and aviation, Brent will
continue to build upon Cirrus’ strong success to date in his new role.”
Prior to Cirrus, Mr. Wouters was the Chief Financial Officer of International Payment
Services, where he was instrumental in completing 11 acquisitions. Mr. Wouters previously
was an award‐winning equity analyst, an information technology consultant, and an aircraft
engineer and flight simulator engineer. Mr. Wouters holds an M.B.A. from Georgia State
University, an M.S. in Aerospace Engineering from Iowa State University, and a B.A. in Math
and Physics from Iowa’s Graceland University.
Kevin Keough, Director ‐ Portfolio Management Group at Arcapita, Inc., Cirrus’ private equity
partner based in Atlanta, noted, “As Cirrus’ ownership partner, we strongly support Alan’s
appointment of Brent to CEO. Cirrus has seen its most rapid growth in the last decade as it
has delivered over 4,000 new airplanes in more than 50 countries around the world.”
Keough concluded, “Cirrus stands poised to repeat its success in the emerging personal and
light jet market with its “Vision Jet”. Cirrus enjoys strong and steady financial commitment
and operational support from Arcapita and with such a positive outlook across all its aircraft
programs, we are excited that Alan will continue to provide overall company direction as
Brent takes the reins of day‐to‐day leadership“.
Alan Klapmeier, who founded Cirrus along with his brother Dale, will continue to serve as the
Chairman of the Board of Directors of Cirrus and Dale remains Vice Chairman. As its Chief
Executive since inception, Alan guided Cirrus from its modest beginnings in 1984 through the
development and production of the industry‐leading SR20 and SR22 piston aircraft. Today
the SR22 is the world’s best selling aircraft model and it has held that position for nearly
seven consecutive years.

About Cirrus
Cirrus is a recognized global leader in manufacturing of personal aircraft. The industry‐leading SR20
and SR22 composite airplanes incorporate innovative advanced technologies into their design as
standard equipment, including the unique Cirrus Airframe Parachute System (CAPS™) and state‐of‐theart
avionics and control systems. In an advanced development stage, the single‐engine Vision Jet
incorporates those same advanced features ‐ including CAPS ‐ in the 300 knot, 5+2 passenger personal
jet. Cirrus has a direct sales force in North America with sales centers across South America, Europe,
China, Australasia, South Africa, Mexico, and the Caribbean. For additional information on Cirrus and
its products please visit: www.cirrusdesign.com.
About Arcapita
Founded in 1997, Arcapita is a global corporation that operates out of four offices in Bahrain, Atlanta,
London and Singapore. As of 30 June 2008, the Bank had $7.5 billion in assets under management, $5.1
billion in total assets on its balance sheet and an equity capital base of more than $1.3 billion. Arcapita
reported a net income of $362.2 million in FY08, representing a cumulative average growth rate of
over 40% since inception. Arcapita has completed investments with a total transaction value of over
$27 billion in its four lines of business, corporate investment, real estate investment, asset‐based
investment and venture capital and has an investment grade credit rating of BBB/A‐2/Stable from S&P.
In its analysis of Arcapita, S&P highlighted the Bank’s strong profitability, good capitalization, sound
liquidity, satisfactory diversification of its investment portfolio and loyal investor base. For more
information, please visit: www.arcapita.com.

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