News Formal

CAE’s chief executive to step down as company looks to get defence business back on track

  • 📰 globeandmail
  • ⏱ Reading Time:
  • 44 sec. here
  • 12 min. at publisher
  • 📊 Quality Score:
  • News: 56%
  • Publisher: 92%

Company Nyheter

Cae,Executive,Defence

Aviation training company’s revenue nearly doubled during Marc Parent’s tenure and share price has more than tripled, but firm has hit some turbulence of late

CAE Inc.’s chief executive is set to step aside after a 15-year run as the Canadian aviation training company tries to get its defence business back on track on the heels of a shaky financial performance in recent quarters.

“Marc’s lasting impact on CAE and global aerospace is unanimously recognized by the board,” CAE Chairman Alan MacGibbon said in the statement. “As we continue our succession process for the next CEO of CAE, we are fortunate to benefit from the considerable leadership depth he has built across the organization.”

The executive leading defence left CAE shortly afterward and another executive, Nick Leontidis, took on the newly-created position of chief operating officer overseeing defence and civil aviation. In August, chief financial officer Sonya Branco left the company to pursue other interests. In tandem Tuesday with the CEO announcement, CAE reported adjusted earnings per share of $0.24 on revenue of $1.14-billion. That beat analyst forecasts. The company largely maintained its previous financial guidance for the year, also surprising analysts.

 

Tack för din kommentar. Din kommentar kommer att publiceras efter att ha granskats.
Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:

 /  🏆 5. in SE

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

Attack on Turkish aviation company leaves 3 dead, several wounded, interior minister saysSmoke raises as emergency rescue teams and police officers attend outside Turkish Aerospace Industries Inc. on the outskirts of Ankara, Turkey, Wednesday, Oct. 23, 2024. (IHA via AP)
Källa: CBCNews - 🏆 2. / 99 Läs mer »

CAE chief executive Marc Parent to leave company in August 2025Parent, who has spent 15 years as president and CEO of the Montreal-based company, will remain in the position until next summer’s annual meeting
Källa: globeandmail - 🏆 5. / 92 Läs mer »