BOC Aviation Limited announced Steven Townend will be appointed as Managing Director and Chief Executive Officer effective Jan. 1, 2024, replacing Robert Martin who will step down from the role on Dec. 31. Martin will remain as a non-executive Director of the Board.

Wu Jianguang will be appointed Chief Financial Officer effective Jan. 1, 2024, replacing Townend in the role of CFO.

Following a thorough review, the Board of Directors has appointed Townend, a 22-year veteran of the firm and currently Deputy Managing Director and CFO, to the position of Managing Director and CEO. Townend has more than 30 years of leasing and banking experience in aviation. Prior to his appointment as CFO, Townend had previously held Chief Commercial Officer roles with BOC Aviation in both London and Singapore for over 16 years.

“On behalf of the Board I would like to thank Martin for his leadership through the key moments in the company’s history and for leading the company to unbroken profitability through both good times and more challenging times for the industry,” said Chairman Liu Jin. “I congratulate Steven on his new role, he brings a deep knowledge of both the company and the industry. I am very pleased that our careful succession planning means that we have an excellent successor, who will drive the continued success of the company through its next phase of growth.”

“Robert has steered BOC Aviation for the last 25 of its 30-year history,” said Townend. “His influence on both BOC Aviation and the aircraft leasing industry has been profound and our best wishes are with him for the future. We have worked closely together for many years to develop this leading global aircraft leasing business and an excellent management team that will continue to build on the strong foundations that we have established.”

Jianguang has been in the role of Deputy Chief Financial Officer since November 2022. At that time, he transitioned from Bank of China after a 30-year career, where he was most recently General Manager of the Financial Management Department. Wu will oversee Accounting and Reporting, Financial Planning, Financial Control, Tax, Treasury and Settlement Departments.