PALO ALTO, Calif., April 18, 2022 -- ( BUSINESS WIRE )--Archer Aviation Inc. (NYSE: ACHR) today announced that Adam Goldstein has been named sole CEO, as the company prepares for its next phase. From February 2011 to November 2019 Mr. Goldstein served as Portfolio Manager at Plural Investments and from September 2005 to October 2009 Mr. Goldstein served as a Senior Analyst at Cedar Hill Capital Partners. Stockholders are able to obtain copies of such documents, without charge at the SEC's web site atwww.sec.gov. From April 2013 to July 2017, Mr. Diaz served in a number of roles for Nissan Motor Corporation, including Division Vice President & General Manager North American Trucks and Light Commercial Vehicles, Sr. Vice President Sales & Marketing and Operations, and Division Vice President, Sales & Marketing and Parts & Service. Over the last four years at Archer, the team has worked tirelessly to become a leader in the eVTOL industry. He became chairman of the board in . Brett Adcock, Archer's co-founder and former co-CEO, will remain on the Company's Board of Directors. Archer Aviation - Corporate Governance - Board of Directors - Person Details Person Details Fred Diaz Former President and CEO of Mitsubishi Motors North America Mr. Diaz has served as a member of our board of directors since September 2021. PALO ALTO, Calif., April 18, 2022 - Archer Aviation Inc. (NYSE: ACHR) today announced that Adam Goldstein has been named sole CEO, as the company prepares for its next phase of growth in the fast-developing urban air mobility market. You will then receive an email asking you to validate your email address (click the link in that email to complete the process). If any of these risks materialize or if assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. Mr. Diaz has served as a member of our board of directors since September 2021. Archer is designing and developing electric vertical takeoff and landing aircraft for use in urban air mobility networks. Certain statements made in this press release are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. These nominees will become directors of the combined company following the completion of the proposed business combination of Archer with Atlas Crest. We believe that Mr. Spellacys deep investing and management experience qualify him to serve on our board. Archer. You will then receive an email asking you to validate your email address (click the link in that email to complete the process). All rights reserved. Mr. Spellacy has extensive experience in technology, data and analytics, capital markets and private equity and most recently, was the Global Industry Leader of Accenture Capital Markets while overseeing Accentures Asset Management, Wealth Management and Investment and Trading businesses. With a stellar career in the aviation | 11 comments on LinkedIn Upon closing of the proposed business combination, these nominees are expected to be joined by Brett Adcock, Adam Goldstein and Michael Spellacy, CEO of Atlas Crest, on the board of directors of the combined company. Before joining Uniteds executive team, Mr. Munoz served in several roles at CSX Corporation from May 2003 to September 2015, including President, COO, CFO, and Executive Vice President. Source: Kantar Media. As the worlds only vertically integrated airline company, Archer is designing and developing electric vertical takeoff and landing (eVTOL) aircraft for use in Urban Air Mobility that can carry passengers for a targeted 60 miles at speeds of up to 150 mph while producing minimal noise. The boards of directors of both Archer and Atlas Crest have unanimously approved the proposed business combination, which is expected to be completed in the second quarter of 2021, subject to the . Prior to founding Archer, Mr. Goldstein founded and led Vettery from November 2012 to December 2019. Mr. Spellacy began his role at Accenture in 2017. Before joining Uniteds executive team, Mr. Munoz served in several roles at CSX Corporation from May 2003 to September 2015, including President, COO, CFO, and Executive Vice President. Prior to founding Archer, Mr. Goldstein founded and led Vettery from November 2012 to December 2019. FactSet (a) does not make any express or implied warranties of any kind regarding the data, including, without limitation, any warranty of merchantability or fitness for a particular purpose or use; and (b) shall not be liable for any errors, incompleteness, interruption or delay, action taken in reliance on any data, or for any damages resulting therefrom. Mr. Sharpe received a Bachelor of Science degree from the University of Hull in 1980. Archer and its respective directors, officers and employees may also be deemed to be participants in the solicitation of proxies of Atlas Crests stockholders in connection with the proposed business combination. Mr. Diaz has served as a member of our board of directors since September 2021. Most recently, Mr. Spellacy was a Senior Managing Director at Accenture plc (Accenture) and Global Industry Leader of Accenture Capital Markets while overseeing Accentures Asset Management, Wealth Management and Investment and Trading businesses. Lipper shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon. The Company took this step, which it believes will help simplify its operating structure, to drive its flight testing and certification program on its path to commercialization. Based in Palo Alto and led by co-founders and co-CEOs Brett Adcock and Adam Goldstein, Archer's mission is to advance the benefits of sustainable air mobility and become the leader in the new era of UAM, a $1 trillion plus market, according to leading industry research. (e) On February 7, 2022, the Compensation Committee (the "Committee") of the Board of Directors of Archer Aviation Inc. (the "Company") approved entering into Change in Control and Severance Agreements with each of the Company's executive officers (excluding Brett Adcock and Adam Goldstein, our Co-Chief Executive Officers), whose change in . Archer is creating the worlds first electric airline that moves people throughout the world's cities in a quick, safe, sustainable, and cost-effective manner. He is a nonexecutive member of the board of directors of Gas Plus, an Italian company listed on the Milan Stock Exchange. in Finance and Strategy from USCs Marshall School of Business and an MBA from Pepperdine University. I also want to thank Brett for his partnership and many contributions to Archer along the way.. For this position we are targeting a base pay between $228,000 - $285,000. Ms. Pinelli currently serves on the board of directors of Globant S.A. As Archer scales its operations, Ms. Pinellis international business experience, financial expertise and her extensive experience in advising growth companies will serve as an asset to Archers management team. These statements are subject to a number of risks and uncertainties regarding Atlas Crests businesses and the proposed business combination, and actual results may differ materially. Data may be intentionally delayed pursuant to supplier requirements. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. Mr. Goldstein holds a B.S. Prior to joining Seatankers, he held the position as Partner at ABG Sundal Collier and Director in Nordea. Mr. Klepsland is a Director of Seatankers Management Norway AS. Mr. Munoz currently serves on the board of directors of Univision Communications Inc. as well as an independent trustee on Fidelity Investments Equity & High-Income Fund. From July 2017 to December 2020, Ms. Pinelli led Ernst & Young LLPs (EY) Consumer Products and Retail sector based in the U.S. Southeast. There may be additional risks that neither Atlas Crest nor Archer presently know or that Atlas Crest and Archer currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. Atlas Crest Investment Corp. (NYSE: ACIC) is a special purpose acquisition company formed for the purpose of effecting a merger, stock purchase or similar business combination with one or more businesses and is sponsored by an affiliate of Moelis & Company, a leading global financial advisor to corporate executives, boards, entrepreneurs, financial sponsors and governments. Mr. Diaz served as President, CEO and Chairman of the Board of Mitsubishi Motors North America from April 2018 to April 2020. Statement of Changes in Beneficial Ownership. We believe that Mr. Munozs experience in management and finance in the airline industry qualify him to serve on our board. These risks and uncertainties include, but are not limited to, the early-stage nature of Archer, including its history of losses and the expectation of significant losses for the foreseeable future; Archers ability to manufacture and deliver its aircraft within its current estimated budget, including risks associated with Archers reliance on its relationships with its suppliers and service providers for the parts and components in its aircraft and its ability to successfully develop commercial-scale manufacturing capabilities; risks associated with the United Airlines order constituting all of the current orders for Archer aircraft and that the order is subject to conditions, further negotiation and reaching mutual agreement on certain material terms; risks relating to the uncertainty of the projections included in the model; Archers ability to effectively market and sell air transportation as a substitute for conventional methods of transportation, following receipt of governmental operating authority, including successfully addressing any obstacles outside of its control that may slow market adoption of eVTOL aircraft; Archers ability to compete in the competitive urban air mobility and eVTOL industries; Archers ability to obtain expected or required certifications, licenses, approvals, and authorizations from transportation authorities; Archers ability to achieve its business milestones and launch products on anticipated timelines; Archers dependence on suppliers and service partners for the parts and components in its aircraft; Archers ability to develop commercial-scale manufacturing capabilities; regulatory requirements and other obstacles outside of Archers control that slow market adoption of electric aircraft; Archers ability to facilitate necessary changes to Vertiport infrastructure to enable adoption, including installation of necessary charging equipment; Archers ability to establish and expand its presence within international markets and into the market segments of defense or logistics/cargo; Archers ability to hire, train and retain qualified senior management personnel or other key employees; risks related to Archers aerial ride sharing business operating in densely populated metropolitan areas and heavily regulated airports; adverse publicity from accidents involving aircraft, helicopters or lithium-ion battery cells; the impact of labor and union activities on Archers work force; losses resulting from indexed price escalation clauses in purchase orders and cost overruns; regulatory risks related to evolving laws and regulations in Archers industries, including data privacy and security laws; impact of the COVID-19 pandemic on Archers business and the global economy; risks related to natural disasters, outbreaks and pandemics, economic, social, weather, growth constraints and regulatory conditions or other circumstances affecting metropolitan areas; the inability of the parties to successfully or timely consummate the proposed business combination, including the risk that any required regulatory approvals are not obtained, are delayed or are subject to unanticipated conditions that could adversely affect the combined company or the expected benefits of the proposed business combination or that the approval of the stockholders of Atlas Crest or Archer is not obtained; a decline in Archers securities following the business combination if it fails to meet the expectations of investors or securities analysts; Archers inability to protect its intellectual property rights from unauthorized use by third parties; Archers ability to defend third-party claims of intellectual property infringement against Archer; Archers need for and the availability of additional capital to pursue its business objectives and respond to business opportunities, challenges or unforeseen circumstances; cybersecurity risks; risks and costs associated with the ongoing civil litigation with Wisk Aero LLC and the federal government investigation; risks related to the dual class structure of Archers common stock, which will limit other investors ability to influence corporate matters; the amount of redemption requests made by Atlas Crests public stockholders; the ability of Atlas Crest or the combined company to issue equity or equity-linked securities in connection with the proposed business combination or in the future, and those factors discussed in Atlas Crests Registration Statement on Form S-4, filed with the Securities and Exchange Commission (SEC) on March 8, 2021 (as amended, the Registration Statement) under the heading Risk Factors, and other documents of Atlas Crest filed, or to be filed, with the SEC. Most recently, Mr. Spellacy was a Senior Managing Director at Accenture plc (Accenture) and Global Industry Leader of Accenture Capital Markets while overseeing Accentures Asset Management, Wealth Management and Investment and Trading businesses. Contacts: For Joby Aviation. Prior to the closing of the business combination, Mr. Goldstein served as the President and Co-CEO of Archer and a member of the Archer board of directors since October 2018. August 4, 2021 | Archer Announces Experienced and Skilled Board Nominees Ahead of Merger with Atlas Crest Investment Corp. Archer rounds out nominations to the combined companys board of directors with diverse and seasoned talent from the aviation, automotive, technology, and finance & consulting sectors, Nominations include Deborah Diaz, former CTO and deputy CIO of NASA, Maria Pinelli, former Global Vice Chair of E&Y and Fred Diaz, former CEO of Mitsubishi Motors North America, Latest announcement comes after Archer announced last week the nomination of Oscar Munoz, former United Airlines Chairman and CEO, to join the post-closing board of directors, Board appointments are set to bolster Archers position as a strategic leader in the eVTOL space. Mr. Diaz also served in several roles for Fiat Chrysler Automobiles (FCA) from 2004 to April 2013, including President and CEO Ram Truck Brand, President and CEO Chrysler Mexico, Head of National Sales, Regional Managing Director of the Denver Business Center, Marketing Communications. Information concerning the interests of Archers participants in the solicitation, which may, in some cases, be different than those of their stockholders generally, is set forth in the proxy statement/prospectus contained in the Registration Statement. Actual compensation offered will be determined by factors such as job-related knowledge, skills, and experience.Archer is proud to be an Equal Opportunity employer committed to diversity and inclusivity in the workplace. Prior to Bridgewater, Mr. Spellacy was a Partner and Managing Director at the Boston Consulting Group from 2003 to 2009 where he helped guide the firms global Alternative Investments Practice providing strategic business advisory services to global asset managers, sovereign wealth funds and asset owners. From January 2001 to April 2003, Mr. Munoz served as CFO of Consumer Services at AT&T. Prior to Accenture, Mr. Spellacy was a Senior Partner, Asset and Wealth Management, at PricewaterhouseCoopers from 2015 to 2017 and prior to that role, Mr. Spellacy was a Partner at Broadhaven Capital, an industry leading independent investment bank and private equity investor servicing the financial services and technology sectors from 2013 to 2015. Sources: CoinDesk (Bitcoin), Kraken (all other cryptocurrencies), Calendars and Economy: 'Actual' numbers are added to the table after economic reports are released. Archer Aviation - Corporate Governance - Board of Directors - Person Details Person Details Oscar Munoz Former Chairman and CEO of United Airlines Mr. Munoz has served as a member of our board of directors since September 2021. Before that, Mr. Munoz served as SVP of Finance and Administration at U.S. West from July 1997 to December 2000. Munoz, a seasoned aviation executive, served as CEO of United Airlines from 2015 to 2020 and, prior to this, served on the board of United Airlines' parent company United Continental Holdings. These forward-looking statements include, but are not limited to, statements regarding future events, the proposed business combination between Atlas Crest and Archer, the estimated or anticipated future results and benefits of the combined company following the proposed business combination, including the likelihood and ability of the parties to successfully consummate the proposed business combination, future opportunities for the combined company, and other statements that are not historical facts. Prior to joining the Archer Limiteds board of directors, Mr OShaughnessy served as Executive Vice President, Chief Accounting Officer and Corporate Controller of Axis Capital Holdings Limited since March, 2012. Mr.OShaughnessy is an Irish, British and Bermudan citizen, residing in Bermuda. If the Merger does not occur during a period of time determined by the Board of Directors of Archer (the "Archer Board") in its . Ms. Diaz brings decades of experience with industry and international organizations overseeing large operational staffs and budget, ESG implementation, and global business joint ventures. Accordingly, undue reliance should not be placed upon the forward-looking statements. Copyright 2023. Commenting on the appointments, Brett Adcock, co-founder and co-CEO of Archer, said We couldnt be more grateful that such an accomplished and distinct group of individuals have chosen to join us as we embark on this remarkable journey to change the future of transportation for generations to come.. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Prior to Accenture, Mr. Spellacy was a Senior Partner, Asset and Wealth Management, at PricewaterhouseCoopers from 2015 to 2017 and prior to that role, Mr. Spellacy was a Partner at Broadhaven Capital, an industry leading independent investment bank and private equity investor servicing the financial services and technology sectors from 2013 to 2015. All rights reserved. He Served as Executive Vice President of Shell for over 10 years, with responsibility for managing Shell upstream investments in well construction and maintenance globally. I am fully committed to the success of Archer, said Brett Adcock. Forward-looking statements generally are accompanied by words such as believe, may, will, estimate, continue, anticipate, intend, expect, should, would, plan, predict, potential, seem, seek, future, outlook, and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Copyright 2023 Surperformance. Mr. Munoz has served as a member of our board of directors since September 2021. From April 2013 to July 2017, Mr. Diaz served in a number of executive roles for Nissan Motor Corporation, including Division Vice President & General Managerof North American Trucks and Light Commercial Vehicles and Sr. Vice President Sales & Marketing and Operations. To get the latest updates from Archer via email, please enter your email address in the field below, select which categories of information you would like to receive and click submit. Prior to joining Stellantis, Ms. Pilarski was employed at FCA US LLC (FCA) since 2009, having served as Head of Business Development for the North America region from March 2019 to February 2021, Head of Human Resources for the North America region from September 2017 to March 2019, and Head of Business Development for the North America region from June 2009 to September 2017. 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