Seabury Advisors Holdings LLC Executive Management Promotions & Reorganization

John McCulloch, Former CEO oneworld alliance Named Senior Principal
May 9, 2011
Seabury Capital Announces the Transfer of Shannon Attari, Investment Banking Division
September 30, 2011

Seabury Advisors Holdings LLC Executive Management Promotions & Reorganization

NEW YORK, November 7, 2011—Seabury Capital LLC, a global investment banking, management advisory and investment management firm, today announced the promotion of several executives of its principal subsidiary, Seabury Advisors Holdings LLC, and the resultant reorganization of its management group.

Michael B. Cox has been appointed Vice Chairman of Seabury Advisor Holdings LLC (“SAH”) and its operating companies and will devote the majority of his time to global sales while he continues to nurture and develop the global restructuring practice. In this role he will partner with the Chairman, President, and CEO, John E. Luth, on global marketing and will provide the senior management presence globally to support the regional executives. He will also continue to remain active in the airline restructuring group as a senior advisor.

Mr. Cox joined the Seabury Capital as a partner in April 1998. He has over 25 years of airline and aviation-related experience. At Seabury, Mr. Cox has advised numerous airline clients on a variety of projects, including airline treasury, corporate finance, and airline restructuring. His engagements have included leading the Seabury team in successfully restructuring the aircraft debt/lease restructuring efforts for the successful reorganization efforts at US Airways, Air Canada and Northwest Airlines. Mr. Cox led the successful out-of-court restructuring of South African Airways resulting in a profitable fiscal year ending March 31, 2008 after losing over 1 billion ZAR the year before. Mr. Cox also advised Frontier Airlines in its Chapter 11 reorganization efforts.

Marty R. Kuehne has been promoted to Chief Operating Officer. Mr. Kuehne will assume day-to-day operational responsibility over Seabury’s three divisions – Consulting, Investment Banking and IT/ Consulting and Software Development. Mr. Kuehne will be responsible of marketing, execution and accountability across all of our practice areas. More specifically, he will ensure that all units are operating profitably and hitting their financial and longer-term business development goals, and will continue to assist regional and divisional executives in identifying resources and training requirements. Mr. Kuehne will also retain a certain amount of direct management responsibilities with a focus on developing the Human Capital practice across additional industry groups and financial investors.

Mr. Kuehne has extensive expertise in maximizing the potential of people, business processes and human resource programs to produce superior business results. With over 25 years of experience in a variety of human capital fields, he facilitates large-scale organizational change, including merger and acquisition integration, financial turnarounds, IPO’s, bankruptcy, and restructurings. His work helps clients create the context to achieve and sustain organizational effectiveness and alignment through strategic consulting in the selection and development of high performance senior management teams, executive coaching, and succession planning coaching and facilitation.

In an effort to greater streamline leadership and decision making, Mr. Luth has formed the Office of the Chairman to include Messrs. Cox and Kuehne as a means of streamlining operational management, driving global sales and developing key relationships for the firm.

As a result of these promotions, Mr. Luth will focus his efforts on developing Seabury’s global business practices through strategic initiatives (including global partnerships) as well as continuing to focus on building Seabury’s Investment Banking, Structured Finance and IT practice areas.

As a means of supporting these initiatives, a number of executives are being asked to step up to broader management responsibilities.

David Spurlock , as one of the newly appointed members of Seabury’s Executive Committee, has been promoted to Global Head of Consulting. Mr. Spurlock’s experience spans corporate strategy and commercial activities with emphasis on fleet, network and revenue management. Mr. Spurlock’s assignments at Seabury include advising a large North American network carrier on its competitive tender for a large order of new widebody and narrowbody aircraft. He was also instrumental in advising a North American flag carrier on its development of a five-year financial plan. Mr. Spurlock combines executive airline experience and deep industry knowledge with generalist strategy consulting skills. Mr. Spurlock joined Seabury in 2009, and formerly was chief executive officer of Eos Airlines, and an executive with British Airways and the Boston Consulting Group.

Jim Bohlman and Lorie Beers will assume roles as co-heads of global Investment Banking and Restructuring.

Mr. Bohlman will be responsible for aviation investment banking and aviation restructuring as well as the Corporate Advisory practice areas and will continue to have certain Consulting responsibilities including, Aerospace. Mr. Bohlman joined Seabury in 2011 as Managing Director responsible for the firm’s consulting activities in the Americas and lead the firm’s Expert Practices globally. He has over 20 years of management consulting and investment banking experience in a variety of industries, with a focus on aviation, aerospace and defense. He has structured commercial negotiation strategies in mediation, commercial workout and litigation settings for transactions exceeding $6 billion in aircraft and A&D-related matters. Additionally, he has led virtually every aspect of turnaround and performance improvement efforts for companies, and has advised buy-side M&A clients on deal structuring, target assessment and post-acquisition matters for significant transactions in the aviation and A&D sectors. Prior to joining Seabury, Mr. Bohlman was partner with Oliver Wyman and a managing principal of their transactions practice. Previous to that Mr. Bohlman was a senior manager in Ernst & Young’s consulting division. Mr. Bohlman started his career with IBM consulting.

Ms. Beers joined Seabury Capital in 2009 as Managing Director, Investment Banking and Restructuring, with responsibility for Seabury’s middle market and aerospace investment banking practice. While at Seabury, she has been involved in numerous buy- and sell-side M&A engagements, private placements of debt and equity and balance sheet recapitalizations across many industry segments, especially aerospace. Ms. Beers has more than a dozen years of investment banking experience and more than 20 years of corporate restructuring and insolvency transaction experience. She is familiar with a wide range of industries and has driven both in-court and out-of-court restructuring successes and is credited with developing the Complex Financial Restructuring Program for the American Bankruptcy Institute (ABI).

John R. Kuehne, Managing Director & Chief Financial Officer, will add Human Resources, IT and Administration to his current responsibilities. Mr. Kuehne joined Seabury group in 2008 with responsibility for Workforce Analytics and added the additional duties of CFO for the Seabury group in 2009. Mr. Kuehne has more than 25 years of experience in finance and accounting working with companies in the transportation, communications, manufacturing and gaming sectors. He was formerly a partner with KPMG and has a CPA.

Myles Goeller, Managing Director, Hong Kong, has recently been appointed to Seabury’s Executive Committee. Mr. Goeller is being tasked to continue building out Seabury’s Asia practice in partnership with David Turnbull, who serves as Chairman of Seabury Asia. He will also assume coordination responsibility for the Seabury Cargo consulting practice. Mr. Goeller joined Seabury in 2003, and has over 12 years of experience in consulting, and more than nine years focused on aviation and aerospace. Prior to joining Seabury, Mr. Goeller was a consultant with Bain & Company.

Greg Durst joined Seabury in October 2011 as Executive Director in the Americas’ Consulting region. As part of this new restructuring, Mr. Durst will also assume coordination responsibility for Seabury Human Capital / Workforce Analytics. Mr. Durst has over 16 years experience in executive management, with particular emphasis on international companies in IT/software and financial services companies. Mr. Durst started his career in consulting with Bain & Company and McKinsey.

Jonathan Sullivan, Executive Director based in London, has been appointed head of Consulting for Europe, Middle East and Africa. He will also be global coordinator for Seabury’s Maintenance practice and SGI Holdings BV, a Dutch-based global aircraft advisory firm. Mr. Sullivan has over 10 years experience in aviation consulting.

About Seabury Capital

The Seabury Capital is a global investment banking, advisory and investment management firm providing investment banking, restructuring/corporate recovery, management consulting, IT development, human capital and investment management advisory services. Seabury professionals have in-depth experience in a broad range of industries including aerospace, automotive, asset management, aviation, cargo, consumer products, distribution, financial services, gaming, infrastructure (ports and airports), and logistics, maritime and manufacturing. Seabury has advised on more than 750 client engagements around the world. Seabury’s operations span Africa, Australasia, Asia, Europe, the Middle East, and the Americas with principal offices in New York, London, Amsterdam, Hong Kong, Los Angeles, Minneapolis, and Washington, D.C., and additional representative offices in Dallas/Fort Worth, Houston, and Mumbai.

Seabury is the leading global advisor to the aviation industry, having successfully managed nine of the 13 largest airline restructurings or corporate recoveries in the world, and raised over $30 billion of capital financing, including advising on over $4 billion of equity financings. Seabury’s investment banking and corporate advisory team has corporate restructuring and insolvency experience representing companies on distressed M&A transactions, refinancing, recapitalizations, and debt renegotiations. Seabury offers financial services through SeaCap Partners a strategic advisory and merchant bank focused exclusively on the global investment management industry. Seabury principals have also advised on over $100 billion of new aircraft purchase agreements and related financing agreements.

Landmark assignments include advising Cathay Pacific Airways on strategic planning and a multi-billion new widebody aircraft order (2009-2010); providing comprehensive profit improvement programs for several major African and Middle East carriers (ongoing); completing a highly successful $525 million liquidity raise for US Airways (November 2009); advising United Air Lines on a multi-billion dollar order of new widebody aircraft (December 2009), and completing a Cdn$1.0 billion liquidity raise for Air Canada (September 2009), the restructuring, recapitalization and sale of Frontier Airlines (October 2009), and advising on the restructuring and sale of Midwest Airlines (July 2009). Additional landmark deals include: raising $1.1 billion for US Airways Group, Inc. (October 2008); restructuring and raising over $2 billion of new equity and debt capital for Northwest Airlines (September 2007), for which Seabury was awarded Airfinance Journal’s “North American Deal of the Year”, successfully completing a restructuring and comprehensive corporate turnaround program for South African Airways (2006-2007); and serving as both M&A advisor and raising over $2 billion of equity and debt financing for the merger of US Airways with America West Airlines (2005). For more information, please visit: www.seaburygroup.com