Botelho resigns as chairman of Embraer

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Former Embraer CEO Maurício Botelho has resigned as the company's chairman.

In a statement the Brazilian airframer said Botelho stepped down for personal reasons.

Botelho was responsible for Embraer's quick acceleration into the regional jet market and spearheaded the company's business jet strategy.

"As president and CEO of Embraer, from 1995 to 2007, Maurício Botelho led the restructuring, growth and internationalisation process of the company, after its privatisation," said Embraer.

He joined Embraer as an aerospace outsider after serving as top executive of Odebrecht, a Brazilian engineering conglomerate even larger than Embraer.

Vice-chairman of Embraer's board of directors Hermann Wever will assume chairmanship until the date of an extraordinary general assembly to elect a new chairman, which Embraer said would occur in the near future.