NetJets CEO Santulli Resigns
Richard Santulli, who 25 years ago created NetJets, a worldwide leader in fractional jet ownership programs, announced Tuesday that he would "step down as chairman and CEO of NetJets, immediately." Acquired by Berkshire Hathaway in the late '90s, Warren Buffet has appointed David Sokol to act as interim CEO. Sokol said he looks forward to "working with this team in building upon NetJets' legacy which Richard created." Santulli explained his immediate departure saying he made the move, "in order to spend some more time with my young family and pursue other interests," and said he expects to stay on with the company for at least a year, serving as a consultant. Santulli grew NetJets out of Executive Jet, which he purchased a quarter century ago. Sokol is chairman of Berkshire Hathaway's MidAmerican Energy Holdings Co.
Last year, NetJets unveiled a $200 million expansion plan that would expand its presence at Port Columbus International Airport and add up to 800 jobs the the company's presence of 2,000 workers in Central Ohio.