Chief executive Jordan Hansell leaves Warren Buffett and Berkshire Hathaway's luxury jet firm NetJets

Catherine Neilan
Follow Catherine
Warren Buffett bought NetJets in 1998 (Source: Getty)
Change is afoot at NetJets, the luxury jet business backed by Warren Buffett's Berkshire Hathaway.
The chief executive and chairman Jordan Hansell, who has been in the cockpit for four years, has stepped down from both roles with immediate effect.
Adam Johnson, who has been at the business for 18 years and is currently president of sales and marketing, is taking his wings.
He said: "We have an exciting opportunity to build on the strong performance the company achieved under Jordan's leadership which included guiding us through the largest fleet refresh in industry history.
"For his hard work and his success in leading NetJets through a very tumultuous economic period, Jordan has earned our sincerest thanks and best wishes for his next endeavors.”
Meanwhile Bill Noe is returning as president and chief operating officer, a role he held from 2006, having left the firm recently.
"Just a few months ago I left NetJets for a ‘can't-say-no' sort of opportunity," said Noe. "The only thing that could have caused me to reconsider that decision was the chance to return to the company where I've worked for 22 years in a role that touches every department, every function and which lets me have a direct impact on our future success. I couldn't be happier to be ‘home' and to add my efforts to fulfilling our mission, vision and values."
NetJets was recently the target of a demonstration by pilot union NJASAP, which picketed Berkshire Hathaway during the annual shareholder meeting in May.
It is not clear what Hansell's next move is – his resignation statement simply praises the company and wishes his colleagues “every future success”.
But NetJets is not unfamiliar with rapid change at the top: Hansell's own rise to the top was facilitated by the surprise departure of David Sokol.
Buffett bought NetJets via Berkshire Hathaway in 1998, having been a customer of the business for several years previous.

Related articles