Story ID: 138Jan17
Marenco Swisshelicopter Founding CEO 'Retiring'
By: Mark Huber
Caption: Martin Stucki is reportedly being replaced at the Swiss startup helicopter manufacturer by former Airbus Helicopters senior executive Andreas Lowenstein.
Word Count: 374
The founder and CEO of Marenco Swisshelicopter (MSH) resigned at a December 5 board meeting. Martin Stucki is being replaced by former Airbus Helicopters senior executive Andreas Loewenstein. Founded by Stucki, Marenco is now largely funded by Russian billionaire Alexander Mamut, whose interests on the board are represented by Marina Gronberg. Bruno Gubser, Marenco chief operating officer, is assuming Stucki's responsibilities until Loewenstein formally begins with the company this month.

Marenco unveiled the $3.5 million SKYe SH09 single-turbine utility helicopter in 2009 but the program has been beset by repeated delays and schedule slippages. The first prototype did not take flight until 2014. Flight-testing was halted while the main rotor head and rotor blades were redesigned and fitted to the second prototype, which then took flight this past February. Meanwhile the certification timetable slipped from 2014 to 2016 to 2018. A third prototype is currently under construction and is expected to fly next year. Marenco has 150 employees and says it has letters of intent from customers for 90 helicopters.

Loewenstein is a former executive with the precursor companies of Airbus Helicopters, Aerospatiale and Eurocopter, and their parent corporation EADS (now Airbus Group). Since 2010 he has served as executive vice president for strategy partnership and innovation and a member of the management Board of DCNS, a provider of naval defense systems and energy based in Paris. Loewenstein holds a Master of Laws (LL.M.) degree in Air & Space Law and Economics from Canada's McGill University and an MBA from France's HEC. He is trilingual in German, French and English.

In a statement issued December 7, Marenco said, “The Board of Directors expressed its gratitude to Martin Stucki for his visionary ideas, relentless efforts and entrepreneurial spirit that led MSH from a most respected engineering bureau to the brink of becoming a full-fledged player in the helicopter industry. In his role, Martin Stucki has brought significant contributions to the helicopter industry in Switzerland. The Board of Directors is convinced that Andreas Loewenstein together with the MSH management and employees will accelerate the transition from a technology pioneer to the first Swiss global helicopter provider and manufacturer.” The company added that it is currently “engaged in the construction of new facilities” in Switzerland.

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