Hawker Beechcraft has named Robert S. "Steve" Miller as its new CEO, replacing Bill Boisture, who will remain as a chairman.
Hawker has been struggling since 2008 when a recession reduced sales and forced thousands of layoffs.
Steve Miller has a history of working with troubled companies. He's helped oversee bankruptcies at parts suppliers - Federal Mogul Corporation and Delphi Corporation. He's credited with helping Chrysler rebound in the 1980's after it had to take government loans.
He's a former CEO of Waste Management and most recently the chairman of AIG, which also received a federal bail out in 2008.
The news of Miller's appointment comes the same day as the Wall Street Journal reports Hawker Beechcraft has hired bankruptcy and restructuring lawyers. The article continues to say the hire doesn't mean that bankruptcy is eminent. A spokesperson for Hawker Beechcraft would not comment on the report.
In a press release from the company, Miller says, "I’m honored to join and to help this company navigate through the challenges of the current general aviation market."