Bombardier Announces Leadership Change | WebWire

Bombardier (TSX: BBD.B) announced these days that ric Martel has been appointed President and Chief

Bombardier (TSX: BBD.B) announced these days that ric Martel has been appointed President and Chief Executive Officer, and a member of the Bombardier Board of Administrators, powerful April six, 2020.

ric Martel joins Bombardier from Hydro-Qubec, the place he has served as President and Chief Executive Officer since July 2015. With revenues of about $10 billion (USD), Hydro-Qubec is one particular of the largest producers of hydroelectricity in the entire world. Prior to signing up for Hydro-Qubec, ric Martel held a amount of management positions at Bombardier, together with President of the Company Aircraft Division and President of the Customer Products and services and Specialized Aircraft Division.

Eric is the ideal chief at the ideal time for Bombardier, as the organization is completing its turnaround approach and focusing on increasing its foremost small business aviation franchise. He is an participating builder with a deep knowing of our corporation and solution portfolio as very well as of the world small business plane market. He has relished fantastic achievement in his profession through operational excellence, restricted administration of complicated producing procedures and a individualized solution towards consumers, mentioned Pierre Beaudoin, Chairman of the Bombardier Board of Administrators.

ric Martel holds a bachelors degree in electrical engineering from Laval College and is a member of the Ordre des ingnieurs du Qubec. In addition to his previous knowledge with Bombardier, he has held management positions at Pratt & Whitney, Rolls Royce, Procter & Gamble and Kraft Food items. He sits on the Board of Administrators of the World wide Sustainable Electric power Partnership and chairs the Strength Group of the Environment Economic Discussion board (Davos).

I am really psyched and honoured to be equipped to rejoin Bombardier as it begins an fascinating new chapter. I have generally been passionate about Bombardier, its workers and goods, and I glimpse forward to building a very thriving, agile and targeted organization, able of giving unmatched provider to consumers, entire world-course options to workers and generating price for our shareholders, stated ric Martel.

With the five-year turnaround approach nearing completion, the Board, together with Mr. Bellemare, unanimously concluded that it was the suitable time for a new chief to get the helm of the corporation.

On behalf of the overall Board, I would like to thank Alain for his management over the previous five a long time, stated Beaudoin. He oversaw a significant and complicated transformation addressing underperforming assets, main software troubles and equilibrium sheet worries even though positioning Bombardier for achievement as a targeted small business aviation organization. We are grateful for Alains contributions to Bombardier and wish him the really finest in his upcoming endeavors, concluded Beaudoin.

It has been a privilege to direct Bombardier through its transformation, mentioned Alain Bellemare. I am incredibly proud of the do the job our proficient staff has finished addressing several worries and setting a potent basis for upcoming achievement. With the turnaround chapter closed, it is a organic time for me to shift on. I thank Pierre and the associates of the Board of Administrators for their unwavering assistance over the previous five a long time throughout our complicated transformation. Im self-confident that the upcoming is vibrant for Bombardier and I glimpse forward to viewing all that the Enterprise will realize in the a long time ahead, concluded Bellemare.

About Bombardier

With over sixty,000 workers across two small business segments, Bombardier is a world chief in the transportation market, generating impressive and match-shifting planes and trains. Our goods and solutions provide entire world-course transportation encounters that set new specifications in passenger comfort and ease, power performance, dependability and basic safety.

Headquartered in Montral, Canada, Bombardier has manufacturing and engineering web sites in over 25 international locations across the segments of Aviation and Transportation. Bombardier shares are traded on the Toronto Inventory Exchange (BBD). In the fiscal year finished December 31, 2019, Bombardier posted revenues of $15.8 billion.

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