CFO Keith Rabin is being promoted to President of 2021 start-up Volato as it prepares for a SPAC IPO.
According to the announcement, “This action is being taken just two years after the company took delivery of its first HondaJet and is part of the company’s long-term strategic plan to more than double its fleet in the next two years.”
The company is preparing for an IPO.
In August 2023, it entered into a definitive merger agreement with PROOF Acquisition Corp I (“PACI”) (NYSE: PACI), a special purpose acquisition company, that upon close would result in Volato becoming a publicly traded company listed on the NYSE.
Matt Liotta, Co-Founder and CEO of Volato, stays in his current position.
In the press release, he noted, “As a rapidly scaling company, it’s tempting to focus solely on meeting the immediate demands of growth. However, we understand the importance of maturation alongside expansion. Today’s announcement demonstrates our commitment to evolving our business structure, optimizing operations, and setting new benchmarks for excellence in private aviation.”
CFO Keith Rabin moves into the role of President.
He held similar positions from 2008 through 2017 at JetSuite and JSX.
At the same time, Volato has established a commercial team.
Gary Waldman, Executive Vice President of Fleet Performance, brings over 30 years of experience in both private and commercial aviation to Volato.
His prior experience includes executive roles at XOJET, JetSuite, and Jet Edge, where he focused on scaling aviation utilization and advising on technology development.
Brian Coulter, Executive Vice President of Fleet Operations, was previously a General Duties-Pilot in the Royal New Zealand Air Force and Boeing-737 Captain and Director of Safety at Air South Airlines.
He has held positions in flight operations and flight standards at WinAir Airlines, JetBlue Airways, and JSX, including authoring flight operations technical publications and JetBlue’s pioneering use of electronic flight airbags.
Executive Vice President of Sales Norm Katz leads the sales team.
He is a veteran of Marquis Jet, JetSuite, and Sentient Jet.
James Cuff, Vice President of Marketing and Business Development, has 25 years of experience in global consumer brand marketing.
His resume includes developing national advertising campaigns for Australia’s top beer brands, managing the A Diamond is Forever campaign for De Beers, and overseeing key strategic and creative projects for global fashion brand Tommy Hilfiger.
Finally, Clinton Holmes, President of Volato Aircraft Management Services, is a graduate of the US Military Academy at West Point and holds an MBA in Finance from the University of Houston Bower School of Business.
He is an Airline Transport Pilot with over 6,000 hours of flight time and has served as a Chief Pilot, FAA Check Airman, and operational manager of GC Aviation, which encompassed 16 aircraft ranging from Gulfstreams to King Air 250s prior to its acquisition by Volato.
Holmes has experience in managing a fleet of diverse aircraft and has earned ARGUS Platinum and IS-BAO Stage 3 Safety ratings.
The company is currently searching for a CFO to fill Rabin’s spot.
“This is a transformative period for Volato, one that promises to redefine private aviation and set new standards in operational excellence and customer service,” Rabin said.
Until the new CFO is appointed, Rabin will continue to fulfill those responsibilities.