Troubled Aviation Names New CEO
Aviation Distributors Inc. said Friday that it hired a new chief executive to anchor its management team and boost investor confidence as it works to recover from charges last fall that it falsified sales figures to get a bank loan.
The Lake Forest airplane parts reseller named Saleem S. Naber, an aerospace industry executive, as president and chief executive. It also hired Gary L. Joslin as vice president and chief financial officer.
Naber replaces company founder Osamah S. Bakhit, who resigned his management positions and his board seat as chairman in November.
Aviation has been struggling to regain its footing since August, when Arthur Andersen resigned as its auditor and withdrew its financial reviews for the last three years.