Berkshire Hathaway's NetJets names new leaders as contract dispute with pilots drags on

MarketsAssociated Press

Berkshire Hathaway's NetJets unit has named new leaders in the midst of an ongoing contract dispute with its pilots union.

NetJets, which sells partial ownership interests in business jets, said Monday that Jordan Hansell is stepping down as chairman and CEO.

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A group of NetJets pilots protested outside Berkshire Hathaway's annual meeting in May because they object to the concessions NetJets has been seeking since 2013 in contract talks.

Previously, Berkshire's CEO Warren Buffett had praised Hansell's cost-cutting leadership of NetJets since 2011. Buffett didn't immediately respond Monday to questions about the changes.

NetJets said Adam Johnson will become chairman and chief executive of the Columbus, Ohio, firm. Bill Noe will be president and chief operating officer. Both men are longtime NetJets executives.