From: Vern Raburn
Sent: Monday, July 28, 2008 6:57 AM
To: _All Employees
Dear Fellow Eclipsers:
It is with a very heavy heart and disappointment that I must send you this letter today. Effective immediately I will be stepping down as President and CEO and our Chairman, Roel Pieper, will become Acting CEO. As you can imagine, this development came as quite a surprise to me and it saddens me more then I can tell you to have to leave Eclipse. I think you know that I am no quitter. But I have not had any choice but to accept the terms of an agreement that provides Eclipse the first funds in a new round of financing that will take the company to a cash flow positive position. My departure was required under the terms of the agreement that was made with the debt investors to clear the way to secure the new funds.
I still very much believe in the dream that is Eclipse Aviation. I founded this company with a very big vision--to create a whole new category of aircraft with new technology. The idea is to create new markets and ultimately a new form of air transportation. This company and the people who built it with me are doing just that. Time and again, we overcame the many challenges that confronted us. Today we have delivered more than 230 Eclipse 500s and our next aircraft, the Eclipse 400 has been launched and is in development. This company did what the industry thought was impossible. I am extremely proud of what we have accomplished and created.
To be successful going forward, we have to focus on operational excellence. We must achieve the product development, production and operations goals that we have committed to.
Today marks the beginning of a new phase of growth for the company and new leadership to go with it. Roel is a veteran executive and an extremely competent leader. He has been committed to this vision since 2003 when his company, ETIRC Aviation became our Eastern European partner. Today, after investing in the company and becoming our Western European partner as well, Roel is deeply involved with Eclipse and I am confident he will help grow the company and provide it with the operational excellence required to move forward. I will assume the Vice Chairmanship of ETIRC Aviation and provide counsel to Roel in the global expansion of this effort.
Thank you all for your commitment, dedication and enthusiasm in building this company. It is something we can all be very proud of. And I’ll be with you in spirit as you continue to prove that we can change the world of aviation.