Alan Klapmeier told a Duluth, Minnesota, newspaper that he will no longer be an employee of the company he founded, as of tomorrow. One of two brothers who founded Cirrus in the early 1990s, Alan told the Duluth News Tribune, “This isn’t the end. It’s just the intermission.” Klapmeier’s plans for the immediate future are unclear, and his brother and co-founder, Dale, told the paper, “The difference between the two of us is that Alan is a dreamer, and he’s extremely aggressive in what he wants.” Dale Klapmeier remains with Cirrus as vice chairman. Since 2001, the company has been under the control of majority stockholder Arcapita, a venture capital firm based in Atlanta. Alan Klapmeier recently tried to raise investment money to acquire control of Cirrus’ single-engine jet project but has since abandoned that effort. Cirrus CEO Brent Wouters has said the jet project will proceed but on a “capital dependent” basis.
Alan Klapmeier Will No Longer Be Employed by Cirrus
