Learjet Chairman Taylor Steps Down
TUCSON, Ariz. (AP) _ James B. Taylor, chairman and chief executive officer of Learjet Corp., has resigned to pursue other business interests, the company said Tuesday.
The resignation is effective immediately. Learjet spokesman John V. Alexander said Taylor had been ″anticipating doing this for some time.″
Alexander said Taylor’s decision had been prompted by suggestions he make himself available within the aircraft industry, particularly in the marketing field, which is considered Taylor’s forte.
″This led to my decision to resign the chairmanship and see what assistance I can provide to other companies,″ Taylor said in a statement released by the company.
Alexander said Taylor was out of town and unavailable Tuesday.
Taylor was chairman of the board of Westport, Conn.-based Canadair Inc. before he joined Learjet in April 1985 as vice chairman of the board and chief executive officer, Alexander said.
Two months later, Taylor was elected president and chief executive officer. He was chosen chairman and CEO last September.
Upon joining Learjet, Taylor reduced the company’s aircraft division workforce from 3,000 to about 1,200 to improve cost efficiency in the face of weak market conditions, Alexander said.
He also said Taylor built up Learjet’s aerospace division, based in Wichita, Kan., from less than 200 employees to about 800 today.
Alexander said Taylor had not taken a vacation, had been working seven-day weeks and ″wanted to take a lesser role.″
No successor has yet been named.