Arab Today, arab today bombardier ceo steps aside in shakeup
Last Updated : GMT 10:29:20
Arab Today, arab today
Arab Today, arab today

Bombardier CEO steps aside in shakeup

Arab Today, arab today

Arab Today, arab today Bombardier CEO steps aside in shakeup

Bombardier Director General Pierre Beaudoin
Montreal - AFP

The head of Canada's Bombardier stepped aside Thursday in a major shakeup of the world's third largest aircraft manufacturer, after posting a $1.2 billion loss last year.
Pierre Beaudoin will be replaced as chief executive by Alain Bellemare, while he takes on a new role as executive chairman of the board.
The chair was held by his father Laurent. Both are heirs of company founder Joseph-Armand Bombardier.
The change at the top follows a new round of job cuts announced last month -- part of a third turnaround plan since 2013, amid delays in getting its new CSeries jetliners off the ground.
New Bombardier CEO Bellemare -- former head at United Technologies' aerospace division -- once worked for UT's subsidiary Pratt & Whitney, whose engines were selected to power Bombardier's CSeries passenger aircraft.
An engine problem arose in 2013 testing that delayed the CSeries rollout. The first jetliners are now expected to be delivered in mid-2015, said spokeswoman Isabelle Rondeau.
In its annual report, Bombardier said its 2014 losses are mainly due to the manufacturer's decision to suspend its Learjet 85 business aircraft program.
The losses follow a $572 million profit the previous year.
The medium-sized CSeries is Bombardier's entry into airspace dominated by Airbus and Boeing.
Meanwhile the company's stock price has plunged 60 percent since Beaudoin took the reins in 2008.
It fell another 10 percent in early trading in in Toronto on Thursday to below Can$3, after the company posted its financial results.
Its 2014 revenues were $20.1 billion, up nearly 11 percent compared to $18.2 billion the previous year.
Going forward, the company said it expects another tough year in the aircraft business, but is forecasting continued strength in train sales.

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today bombardier ceo steps aside in shakeup Arab Today, arab today bombardier ceo steps aside in shakeup

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today bombardier ceo steps aside in shakeup Arab Today, arab today bombardier ceo steps aside in shakeup

 



Arab Today, arab today Designer Rania Adel reveals her new collection

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 23:13 2017 Sunday ,18 June

New ransomware virus attacking mobiles in Oman
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday