IAI restructuring to combine aviation groups before CEO steps down

Israel Aerospace Industries (IAI) will combine four of its business lines to establish a single aviation group for all its related businesses, as proposed by IAI’s president and CEO, Joseph Weiss. Weiss, who has led IAI in his current positions for six years, also announced his retirement once a new CEO is appointed.

IAI’s new aviation group will focus on four business lines: aircraft development and manufacturing; aviation assembly development and production; aircraft conversion and enhancement; and aircraft maintenance. Yossi Melamed, who currently serves as general manager of IAI’s MRO and conversion arm, Bedek Aviation Group, was named general manager of the new group.

The change in business structure is meant to help IAI capitalize on the 5 percent to 7 percent annual growth in the global civilian aviation market “while focusing and leveraging the synergies between the various fields of operation to adjust our operations to the global markets,” said Weiss, who added that the restructuring is a necessary step to improve IAI’s competitiveness.

IAI cited his approaching retirement age as the reason for Weiss’ departure from the company, and said Weiss will stay with IAI “as long as necessary to ensure smooth transition” under a new CEO.