Henry Schachar Appointed Executive Vice Chairman
Ken Austin Promoted To President

Schachar, who co-founded Marquis Jet in 2001 and subsequently served as its President, has been promoted to Executive Vice-Chairman.  Austin, who joined the Company in 2001 as Senior Vice President, and most recently served as its President of Marketing & Business Development, has been promoted to the position of President of Marquis Jet, succeeding Schachar.  Both Schachar and Austin will report to Dichter and continue to serve as members of the Company’s Board of Directors.

Said Dichter, “Since our inception in 2001, Marquis Jet has pioneered and become the global leader in private jet cards, and Henry and Ken have been instrumental in these achievements.  Their contributions have been nothing less than pivotal to the extraordinary development, growth and success of Marquis Jet.  As we near the end of our first decade in business, it is imperative that we continue to build upon our entrepreneurial dynamic, our leadership and our vision in order to further strengthen our foundation for the next decade.  Having these outstanding individuals whom we know well and trust in new and expanded positions of responsibility will put Marquis Jet on the right footing to ensure continued success in our collective future.  Additionally, their promotions pave the way for several talented executives within our Company to step into expanded leadership roles.”

Prior to co-founding Marquis Jet Partners in 2001, Schachar held senior management positions with several major commodities trading businesses, and was a principal in a private venture capital firm.  Schachar received a Bachelor of Arts degree from Yeshiva University and a Juris Doctor degree from Brooklyn Law School.

Prior to joining Marquis Jet Partners in 2001, Austin served as Senior Vice President at The Seagram Beverage Company - a division of the former Joseph E. Seagram & Sons, at the time the world’s largest distiller of alcoholic beverages - responsible for domestic sales, regional marketing, finance and operations.  He previously held various management positions with E&J Gallo Winery and Price Waterhouse International Tax Group. Austin received an undergraduate degree from The Binghamton University School of Management, and an Executive MBA degree from Fairleigh Dickinson University.