Air Transport Services (ATSG) Picks Mike Berger as President
Air Transport Services Group, Inc. ATSG announced that its board of directors has promoted Mike Berger as president of ATSG. He commenced his duties from Oct 1, 2023. He was previously the chief strategy officer of ATSG.
In his new role, Berger will continue to lead ATSG's transformational growth as the market leader in freighter leasing and air operations. He will be responsible for aligning the business operations with the company's long-term strategic plans. He will still continue to report to Rich Corrado, chief executive officer and a director of ATSG.
Corrado stated, “Mike is a visionary business leader with a proven record of success. His keen understanding of the global air freight industry and his ability to forge strong relationships with key customers have been, and will continue to be, decisive factors in ATSG's emergence as the world's premiere freighter lessor.”
Berger joined ATSG back in 2018 as the chief commercial officer and president of the company's Airborne Global Solutions subsidiary. He was promoted to chief strategy officer in 2022.
Prior to joining ATSG, he held senior leadership positions at major air express companies including DHL, TNT in Europe and Dicom Transportation Group of Canada. He started his career with Airborne Express. He has a bachelor's degree in business management from Temple University.
The news of these changes is likely to have an impact on the stock of Air Transport Services. Investors may view the promotion of Mike Berger, the new president with a strong background in the transportation industry as a positive move for the company.
Zacks Rank
ATSG currently carries Zacks Rank #3 (Hold).
Key Picks
Some better-ranked stocks for investors interested in the Zacks Transportation sector are GATX Corporation GATX and Ryder System R.
GATX, which presently carries a Zacks Rank #2 (Buy), has strengthened its railcar leasing operations. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
For third-quarter and full-year 2023, GATX’s earnings are expected to register 36.6% and 14.3% growth, respectively, on a year-over-year basis.
Ryder, which currently carries a Zacks Rank #2, is benefiting from its consistent efforts to reward shareholders through dividends and share repurchases.
Despite weak market conditions, Ryder reported better-than-expected earnings in second-quarter 2023. In fact, the company has an impressive earnings surprise history. R has surpassed the Zacks Consensus Estimate in three of the last four quarters (missing the mark once), the average beat being 11.2%.
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Air Transport Services Group, Inc (ATSG) : Free Stock Analysis Report
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