Michael T. Steen to Become Chief Executive Officer of Atlas Air Worldwide

CEO John W. Dietrich to Retire after Nearly 25 Years in Leadership Roles

CFO Spencer Schwartz to Retire after Nearly 15 Years with Atlas

PURCHASE, N.Y., May 04, 2023 (GLOBE NEWSWIRE) -- Atlas Air Worldwide (“Atlas” or “the Company”) announced today that Michael T. Steen, Executive Vice President and Chief Commercial Officer of Atlas, has been appointed Chief Executive Officer (CEO) of the Company, in line with the Company’s long-term succession plan, effective June 15, 2023. Mr. Steen succeeds John W. Dietrich, who is retiring from the Company after nearly 25 years. Additionally, the company announced that Spencer Schwartz, Executive Vice President and Chief Financial Officer (CFO) is retiring from his role, effective June 15, 2023.

Mr. Steen has more than 30 years of experience in aviation and logistics, including 16 years of executive leadership experience with Atlas. He has served as Chief Commercial Officer since 2007 and has been responsible for leading the Company’s strategy and growing market share, as well as developing and diversifying the Company’s roster of blue-chip customers. In addition to his role at Atlas, he currently serves on the Board of Directors at CHC Helicopters. A new chief commercial officer will be named following Mr. Steen’s appointment as CEO.

“Michael’s leadership experience, strong track record of innovation and success, and consistent focus on the company’s customer-centric mission makes him the ideal candidate to lead Atlas forward in its next phase of growth,” said David Siegel, Chairman of the Board. “On behalf of the Board, we look forward to working closely with Michael to execute on Atlas’ strategic growth plans and continuing to build on the Company’s strong commitment to safety, quality and service excellence.”

"I am thrilled by the opportunity to lead our incredible Atlas team as we design and execute our vision for growth and embark on new and exciting opportunities as a private company,” said Mr. Steen. “This is a transformative time for Atlas, and the continued support from Apollo, J.F. Lehman and Hill City will play an important role as we enhance our capabilities and deliver new solutions for our customers. I am grateful for John’s leadership, and look forward to building on this strong foundation of global success. I also thank Spencer for his partnership and contributions throughout his time with the Company.”