Cirrus’s Klapmeier Ends Bid to Take Over Jet; Chairmanship Set to Expire

Cirrus co-founder Alan Klapmeier has suspended his efforts to assemble a group of investors to take control of the Cirrus Vision single-engine jet program. In an unrelated matter, Klapmeier's employment agreement to be Chairman of the Board of Cirrus is set to expire in mid-August. Alan will continue as a member of the board and will have input on the future of the company and its airplane development plans. A new chairman has not yet been named. Cirrus President Brent Wouters said development on the Vision jet continues apace and he regrets that the Klapmeier effort to fund the jet program did not succeed. However, Wouters said one silver lining to the episode was that there is a new group of potential investors who might not have expressed interest in the jet program without the publicity.