Press

ORLANDO, FL. – The search for the next Chief Executive Officer of the Greater Orlando Aviation Authority (GOAA) reached an important milestone today. After considering presentations and interviews of the four finalists at a special morning meeting, the GOAA Board voted 6-1 to select Florida Secretary of Transportation Kevin Thibault as the preferred candidate to succeed the retiring Phil Brown. The next step will be for the Authority to negotiate an agreement with Mr. Thibault before officially naming him CEO.

“Today we concluded a thorough and deliberate process of selecting a candidate to be our next Chief Executive Officer, who will serve a growing, diverse and energetic community, while leading one of the region’s top economic engines,” said Carson Good, Chairman of the Greater Orlando Aviation Authority. “We look forward to our next CEO building on success, innovating to create new opportunities, attracting new air service and providing economic growth in which all our citizens can participate.”

Following Mr. Brown’s retirement announcement in April of 2021, the Aviation Authority hired aviation specialty recruitment firm Korn Ferry, which developed measurement criteria, marketed the position and vetted qualified candidates. From their national recruitment effort, Korn Ferry presented six recruited candidates to the Board.

On January 7, 2022 the Board selected Thibault, Lance Lyttle, CEO of Seattle Tacoma International Airport; Jackie Yaft, CEO of Austin Bergstrom International Airport; and Mark Thorpe, CEO of Ontario International Airport as its final four.

Acting CEO Options Identified

The Board also approved Chief of Operations (CO) Tom Draper and Chief Financial Officer (CFO) Kathleen Sharman as options to serve as Acting CEO in the event of an absence of the CEO. Following the approval, Mr. Brown named Mr. Draper to fulfill CEO duties while the Chief Executive office is in transition. Mr. Draper will become Acting CEO on January 22, 2022 pending the arrival of the new CEO.

Mr. Draper began his 31-year career at GOAA as a firefighter and was promoted to Senior Director of Operations in 2017 prior to being named Chief of Operations. Ms. Sharman joined the Authority in 2015 as Director of Finance and was promoted to CFO the following year.

GOAA Revenue Bonds Receive Favorable Ratings

The four major bond ratings agencies have released their assessment of the Authority’s upcoming Airport Facilities Revenue Bonds. All four gave GOAA ratings in the AA category on five series of 2022 bonds totaling $280.9 million. Fitch Ratings rated the bonds AA-, Moody’s rating was Aa3, KBRA’s was AA and S&P Global was AA-. The four agencies all agreed the Authority’s outlook was Stable.

The assessment of GOAA’s key ratings drivers included Orlando International Airport’s (MCO) position as a leading origin and destination airport; MCO’s diverse air carrier mix; competitive airline costs; better-than average recovery from the pandemic; and a rapidly diversifying economy.

The information herein is provided as of the dates specified. Due to the outbreak and continuation of COVID-19 subsequent to the date of such information, the information contained herein may differ materially from current operational and financial data.